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How can i get a mortgage with bad credit?
moneyburner
Posts: 3 Newbie
Hi everyone!!
I'm new to all this and was hoping someone could give some advice. I currently have my debt in a management programme, took me far to long to do, but its done now! As a result of my debt i have a horrendous credit rating, no ccj's but a lot of defaults. I really want to buy a house and have no idea where to start in terms of getting a mortgage. I don't want to approach any of the 'high street' lenders for fear of being laughed at!!! Any ideas?? Thank you
I'm new to all this and was hoping someone could give some advice. I currently have my debt in a management programme, took me far to long to do, but its done now! As a result of my debt i have a horrendous credit rating, no ccj's but a lot of defaults. I really want to buy a house and have no idea where to start in terms of getting a mortgage. I don't want to approach any of the 'high street' lenders for fear of being laughed at!!! Any ideas?? Thank you
0
Comments
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You need to speak to a free whole of market mortgage advisor/broker.
A good deposit would help??0 -
Have to agree with above
All depends on the scenario you are looking at though, as to whether you can achieve the mortgage amount you are looking for.
Bad credit history does not normally mean you cannot get a mortgage, it means that you will normally be charged a higher interest and may need to put down a higher deposit
Get an up to date copy of your credit file (from Equifax or Experian) and then armed with that get in contact with a fee free whole of market adviser - please be careful of companies claiming to be specialist in adverse mortgages only to charge you extortionate fees
HTHI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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