Get a Mortgage With a Default on Your Credit File
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We're Bad Credit Mortgage specialists with access to the whole of the market!
Have you gone through bankruptcy, a debt management plan, or had a CCJ or default in the last 6 years? You need not worry! We are experts in the mortgage industry and work frequently with bad credit mortgage lenders who specialise in assisting people in your situation.
Can a person with a default on their credit history still acquire a mortgage?
You certainly can.
In order to determine if a potential borrower is creditworthy, mortgage lenders look at their credit records. A person’s credit report is a synopsis of their track record of paying back loans and other forms of credit. It’s similar to a CV in that it describes your track record of handling debt repayment.
Having a default on your credit report might be a red flag to potential lenders, and they may decide not to work with you because of this. On the other hand, they may still lend to you on a higher rate.
However, there are several specialised loan companies who are willing to work with borrowers with poor credit. A broker who specialises in helping people with credit problems is the best person to approach if you find yourself in this situation.
What is a default?
To default means to fail to comply with the terms of a credit agreement, such as making payments on time. This usually happens when a borrower has missed several payments in succession.
Mortgages, credit cards, auto financing contracts, mobile phone contracts, unsecured personal loans, and retail store credit cards are all examples of credit arrangements that you could potentially default on.
Whether you pay off the bill or not, the default will remain on your credit report for six years.
What is a satisfied default?
As quickly as possible, you should make good on your defaulted debts to achieve a satisfied default. After six years, a default (whether paid or unpaid) will be removed from your credit report. Satisfied defaults are preferred by mortgage lenders since they demonstrate that borrowers who have previously defaulted on their payments have since rectified the situation.
4 Reasons why to use us?
We believe that everyone deserves the opportunity to own their own property and recover from an adverse credit history. We put you in touch with a specialist mortgage advisor who has access to the whole of the UK mortgage market and will help you secure the best bad credit mortgage deals for you in your current circumstances.
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We love speaking with our clients. Give us a call, fill in one of our contact form or chat with us on 0330 043 1143 right away!
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We’ll put you in touch with one of our qualified mortgage advisors who will discuss your options and answer your questions.
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With the expert advice you’ll be able to find the best mortgage deal for your particular circumstances.
See what others think ...
Steven Brunning
Aidan and Kayleigh were absolutely brilliant. They were very pro-active throughout and gave us confidence that they were identifying the most appropriate products on the market for our needs! We felt very reassured and are grateful for them helping the transaction to run as smoothly as possible.
Zara Akhtar
From the very start Michael, who I initially spoke with was the extremely helpful and professional. I was struggling to find a lender due to my personal circumstances. Michael was very open and honest with me and actually managed to find a lender who would consider my circumstances. This is something other brokers were unable to do!
I started my mortgage journey thinking I could never get a mortgage, well if I did I would be a long time due to a few mistakes I made back when I was a student. I got speaking to Luke Grosse. After months of searching things couldn’t of gone smoother on his end, he got me a mortgage offer. Easy to talk to, straight forward, explained everything in detail while being patient. Couldn’t recommend this company and Luke in particular any higher as my experience with them was fantastic. Finally completed on my purchase today and now I am a home owner with my fiancé.
This being our first property purchase, we were very unfamiliar with the how things worked. With the support and help by these two fine ladies, we were able to steer in the right direction. We had constant communication throughout the process and communication was key in these purchase too. I definitely speak highly and recommend others the mortgage advisor as they were always willing to help and support us in any way possible.
Speak to one of our specialists
This is relevant to everyone with poor credit, but it’s crucial if you’ve already been denied a mortgage. Contact a mortgage broker who specialises in negative credit mortgages before you apply again and receive another rejection, which will further harm your credit report. They will be able to assess your situation and advise you on which lenders to contact and which to entirely avoid.
Additionally, they will be able to discuss your application with loan representatives and negotiate the best terms and pricing because they will have ties with them.
It’s also important to keep in mind that most specialty lenders would demand an introduction from a trustworthy broker if you need to utilise one.
The brokers in our network have years of expertise assisting borrowers with credit defaults in obtaining mortgages. Contact us and we’ll put you in touch with one of our professionals right away.
Meet our experts
Michael Buckley
Director / Mortgage & Protection Advisor
Aidan Comerford
Sales Manager
Luke Grosse
Mortgage & Protection Advisor
Chris Kenny
Mortgage & Protection Advisor