Mortgage Light

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New Homes Hotline – 01908 870017
01908 597655
New Homes Hotline – 01908 870017
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Home / Mortgages / Bad Credit Mortgages
Bad Credit

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Bad credit mortgage advisors and brokers with offices 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!!

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

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Who We Can Help

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Which Mortgage is Right For You?

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Mortgage Light Head Office

1 Whittle Court,
Knowlhill,
Milton Keynes,
MK5 8FT

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Free Initial Consultation

All of our brokers deal with the whole of the mortgage market. It doesn’t matter what the question or when you want to speak to us, we have brokers available on the phone or face to face seven days a week. Whether you are just thinking of buying a home and have no idea where to start, a seasoned investor or someone looking to better your current mortgage product, we are happy to help andchat over ideas free of charge.

So we can give you plain and simple advice we will run through some basic questions to help us tailor products to suit your needs. Upon us taking your application forward we will write to inform you that we have given you advice and give you a Key Facts Illustration breaking down the important elements of the product and the fees involved.

For us to take your application forward to a lender we charge an upfront administration fee of £349. For our returning customers looking to renew their mortgage product this fee reduces to £199. We also receive commission from the lender.

A fee of £349 is payable on application of the mortgage. We will receive commission from the lender in addition to the fees you pay. Your home may be repossessed if you do not keep up repayments on your mortgage. You may have to pay an early repayment charge to your existing lender if you remortgage. As with all insurance policies, conditions and exclusions will apply.
Covering Milton Keynes.

Registered Office: Mortgage Light Ltd Church View Chambers, 38 Market Square, Toddington, Dunstable LU5 6BS. Registered Company Number: 8184773. Registered in England & Wales.

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