So, you have found your dream home. But there is a problem! For many people, the hurdle of trying to secure a mortgage with a poor credit rating can turn what should be a happy time into one full of stress and worry.
If you have poor credit, it doesn’t necessarily mean you can’t get a mortgage.
Bad credit mortgages help people with a history of poor credit get on the property ladder or remortgage their existing property. You may have to pay a slightly higher interest rate, as mortgage lenders will deem you to be a higher risk. However, if you keep up repayments on a poor credit mortgage, your credit rating should improve and enable you to move to a standard mortgage at a lower rate after a few years.
Do you have or had in the past 6 years:
- County Court Judgement – CCJ
- Missed loan or mortgage payment
- Debt Management Plan – DMP
- Individual Voluntary Arrangement – IVA
- Discharged Bankruptcy
The good news is that finding a lender that will accept your adverse credit is a very real possibility. However, searching the high street for a lender that will accept your adverse credit may not be easy. Instead of pondering “how can I get a mortgage with bad credit”, RM Mortgage Solutions are here to take the weight off of your shoulders by sourcing mortgages for those with bad credit.
We understand that it can be difficult to find a lender willing to provide a mortgage in these circumstances, but with help from our specialist advisors, you can get access to a potential mortgage with the minimum of fuss.
If you have bad credit and require a mortgage it is important that you obtain sound professional advice. For information and mortgage advice you can trust from a local Birmingham mortgage broker; complete our Mortgage Enquiry Form or the Quick Contact Form.
A mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.