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 default on your credit file does not automatically prevent a mortgage. Whether it may be possible depends on the age of the default, its value, whether it has been satisfied, whether you have one or several, and how you have managed credit since. Specialist lenders regularly consider applicants with defaults where high street lenders would decline. Matching the right lender to your case first time is what makes the difference.
Defaults come in many forms. A missed mobile phone bill that turned into a small default is a very different case to a defaulted personal loan for thousands of pounds. Lenders assess the detail: what the account was, how much was owed, when it defaulted and whether it has been settled since.
We regularly help clients with defaults across the whole range, from small telecom or utility defaults through to significant credit card and loan defaults. The specialist market has real appetite for well-explained default cases, and we know which lenders take which view.
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 regularly consider applicants with defaults. It depends on the age, value, type and status of the default, your deposit, income and wider credit conduct. Acceptance can never be guaranteed but broker-led case placement gives you the best chance.
Usually, yes. A satisfied default shows lenders you resolved the debt, which reassures them and widens your choice of lender. Some lenders require settlement before offering. Others will still consider unsatisfied defaults, typically with a larger deposit.
There is no single waiting period. Some specialist lenders will consider you almost immediately, particularly for small or satisfied defaults. Options broaden as the default ages, and it drops off your file after six years.
Yes. Small defaults (under a few hundred pounds) can go through with fairly mainstream lenders. Larger defaults typically need specialist lenders. The specialist market is not usually capped by value.
No. Communication defaults (mobile phones, broadband) are viewed most forgivingly. Utility defaults sit in the middle. Credit product defaults (cards, loans) are assessed more seriously. Secured product defaults are the most serious.
Specialist lenders price for additional risk, so rates typically sit a little higher than mainstream products. The gap narrows as the default ages and your conduct stays clean.
No. An initial conversation and a look at your situation is a soft enquiry and leaves no mark on your 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 default 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.
