SPECIALIST ADVERSE CREDIT MORTGAGE ADVICE
Worried your credit history could affect your mortgage? Our specialist advisers can help you understand your options.
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A joint mortgage application where one person has adverse credit and the other has a clean file is a common situation, and one that specialist lenders regularly consider. High street lenders often assess both files strictly, which can lead to a decline. Specialist lenders take a more nuanced view, weighing the combined picture rather than the worst score. What may be possible depends on whose credit is affected, how recent the issues are, how much of the deposit each person is contributing, and your combined affordability.
Buying jointly when one applicant has bad credit is not the dead end most people fear. Many couples, partners and friends buy together in exactly this situation every year, matched to the right lender by a specialist broker.
We look at both files together and place the case with a lender whose criteria fit the combined picture. Applying to the wrong lender first can add hard searches to your file and make the next application harder, which is why case placement matters so much for mixed credit joint applications.
We talk through your situation and goals. No obligation, no credit mark.
We assess the specifics and everything else lenders will want to know.
We target the specialist lenders whose criteria fit your case.
We package the case, submit it and guide you through to offer.
Adverse credit mortgages are not a sideline for us. Cases involving CCJs, defaults, IVAs, DMPs and bankruptcy discharges are a core part of what we do, and we have helped thousands of clients through them.
You will work with qualified, named advisors who explain things honestly, including when the timing is not yet right. We would rather give you a straight answer than send you towards a rejection.
In many cases, yes. Specialist lenders consider joint applications where one applicant has adverse credit regularly. Acceptance depends on whose credit is affected, how recent the issues are, whether they are satisfied, your combined income and the deposit. High street lenders often decline mixed credit joint applications automatically. Specialist lenders take a more considered view.
Both files are assessed. Lenders look at the lower score more critically, but the affordability of the higher earner typically drives how much you can borrow. Different lenders weight this differently, which is why the right lender match makes a significant difference to what may be possible.
Sometimes, yes. Rates on specialist mortgages tend to sit a little higher than mainstream products because lenders price for the additional risk. As the adverse credit ages and your combined conduct stays clean, remortgaging onto a better rate later is often possible.
It may be possible once the bankrupt partner has been discharged. Specialist lenders consider discharged bankrupts, often with a larger deposit and depending on how long ago the discharge was. The clean-credit partner’s income and file both count in your favour.
This is rarely the right answer. A single-applicant mortgage means only one income counts, which usually cuts affordability significantly. Both people can still be on the property title (as tenants in common or joint tenants) even when only one is on the mortgage, but the maths often does not work. A joint application with the right specialist lender usually gives more room.
No, gifted deposits are widely accepted, including on mixed credit joint applications. A short gift letter confirming it is a gift not a loan is all that is needed.
No. An initial conversation and a look at your situation is a soft enquiry and leaves no mark on either credit file. A hard search only happens later, with your permission, when you formally apply to a specific lender.
Our office is in Nottingham, at Park Lane Business Centre, NG6 0DW. You do not need to visit. We help joint mortgage clients right across the UK by phone, email and video.
A short, free conversation is the quickest way to find out where you stand. No pressure, no jargon, and no mark on your credit file.
Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.
My Mortgage Specialist Ltd is authorised and regulated by the Financial Conduct Authority under Firm Reference Number 1002905, an Appointed Representative of TMG Direct Limited (FRN 786245) which is authorised and regulated by the Financial Conduct Authority. The guidance contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.
Some types of buy to let mortgages are not regulated by the Financial Conduct Authority. As a mortgage is secured against your property, it could be repossessed if you do not keep up the mortgage repayments.
