If you know, or discover, that you have adverse credit it could impact on any mortgage application you choose to make. But there are lenders that will help, and we can help you find them.
Adverse or ‘bad’ credit can be as a result of several factors, from late or missed payments through to defaults, County Court Judgements or debt arrangements. In fact, it’s quite possible you only find out you have credit issues when it comes time to apply for a mortgage. The problem is, that some lenders won’t lend to you if you have adverse credit.
The good news is that just because one lender rejects you doesn’t mean everyone will. Each lender makes their own assessment and judgement. We usually find it’s the smaller, more specialist lenders who take a more holistic view, diving beneath the credit score to understand your situation more fully.
We don’t give up easily, we’re confident we can find the right lender to help you turn your house buying dreams into fully fledged reality.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend on your circumstances. The fee is up to 1% but a typical fee is £549.
If you are concerned about whether you have adverse credit, then the first step is to obtain a copy of your credit report. This will highlight your credit score and whether there is anything in your history (such as missed payments or defaults) that may concern a mortgage lender.
You can obtain a copy of your credit report from the likes of ClearScore, Experian, Equifax or TransUnion.
At Lucra Mortgages we recommend Checkmyfile where you can see the reports from Experian, TransUnion and Equifax all in one report. This is useful to avoid any surprises as lenders will tend use different agencies.
Checkmyfile offers a free trial, and the subscription can be cancelled at any time. It’s important to note that beyond the 30-day free trial the service is charged at £14.99 per month.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend on your circumstances. The fee is up to 1% but a typical fee is £549.
Complete our form or give us a call. Everyone’s needs are different so we’ll gather all he info we need to help make your application as smooth as possible.
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Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend on your circumstances. The fee is up to 1% but a typical fee is £549.
