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Bad Credit Mortgage Advisors & Brokers in Milton Keynes
Having a less-than-perfect credit history does not mean you can’t get a mortgage to buy your dream home. If you or your partner have had arrears, defaults, County Court Judgements(CCJs), Debt Management Plans or have been made bankrupt in the past 6 years, there are still mortgage options available - even if a lender has turned you away in the past, it still may be possible for you to obtain an ‘adverse credit mortgage’ or ‘bad credit mortgage’.
The good news is that the UK mortgage market is vast and there are deals out there for all kinds of borrowers - from those with clean credit to customers whose record is less than perfect. Here at Mortgage Light we are able to research the whole of the market to find the deal that is right for you and this can even be done with without the need for a hard credit search - so relax...we are here to help as your bad credit mortgage advisors!
What are bad credit mortgages?
Bad credit mortgages follow the same principle as any other mortgage, however they are designed specifically to help people with a history of poor credit get on the property ladder – this includes those who are employed and self-employed and with both high and low incomes.
With these types of mortgages, it usually means that you may have to pay a slightly higher interest rate than you would get with some of the other high street lenders, as the lenders who specialise in these mortgages will deem you to be a higher risk.
The Good News
If you keep up repayments on a poor credit mortgage, your credit rating should improve, and this could enable you to move to a standard mortgage at a lower rate after a few years. By talking to us we can help guide you through the process step by step, and advise of the best course of action to get you on the property ladder.
Bad credit mortgages
Most Common Questions
- How do I apply for a bad credit mortgage?
- Can I get a bad credit mortgage with Help to Buy?
- What are my chances of getting a mortgage with bad credit?
- I am self-employed can I get a bad credit mortgage?
- I have missed mobile phone payments, does this mean I can only get a bad credit mortgage?
- What credit reference agencies do mortgage lenders use?
- Can I get a bad credit mortgage with a 5% deposit?
- Can I get a bad credit mortgage with Shared Ownership properties?
- Does having a low credit score mean you can’t get a mortgage?
- Can I get a joint mortgage if my partner has bad credit?
- Can you get a bad credit mortgage and still use a guarantor?
- My credit issues are still not satisfied does this mean I can’t get a mortgage?
- What is a default?
For the answer to these and many more contact us today! Let us take your worries away as your bad credit mortgage advisors.