Adverse credit mortgages are specifically for people with a poor or low credit rating. You may have loans or credit agreements and missed a few payments, have a County Court Judgement (CCJ), have been made bankrupt or been in a debt management plan (DMP). All of these things contribute towards a low or bad credit rating.
The result of a low credit rating limits your finance options and makes it difficult to get a mortgage. Indeed – in some cases you may have applied for a mortgage and had your application refused. This can be particularly frustrating as you may be looking to get onto the property ladder or be a current homeowner wanting to move but your financial situation has changed since taking out your previous mortgage.
The good news is whilst a low credit rating makes it difficult to get a mortgage it is not impossible. By working with a mortgage partner like The Mortgage Xchange your chances of having your application accepted increase because we work with the whole mortgage lending market. We speak the same language as lenders and our experience enables us to understand which lenders are most likely to accept your application.
If you have a low credit rating or have been refused a mortgage feel free to click here to contact us to arrange a free 15-minute consultation. We would be happy to understand your situation and explain what may be possible.
Please Note: The Mortgage Xchange is a partner of Scott & Goose LLP who are directly authorised by the Financial Conduct Authority under reference 661183. Your home may be repossessed if you do not keep up repayments on your mortgage.