Bad Credit Mortgages

sarahjayne17

Hi there,

Its a long story but I have had a problem with my bank whereby they have said that I am 6 months in arrears on a loan I took out with them and this is now showing on my credit report - which is bad! I have tried every avenue to get this removed and I am still pursuing this, however I am so fed up that I have almost resigned myself to it staying on there. The major problem at the moment is that I want to get a mortgage. We are first time buyers and I only discovered the adverse notation on my credit report when we were turned down by Abbey.
I am getting married in July and want it sorted by then. We have a £40,000 deposit on a £200,000 house and I want to know what the rates are like for 'bad credit' mortgages and which companies are best to speak to i.e. not dodgy!

Many thanks

sarahjayne17

happybroker

80% lending for a first time buyer in the sub prime arena doesn't really exist at the moment unfortunately.

Has this adverse credit been registered in error? If so keep pressing for it to be removed, if it hasn't then I'm afraid it's stuck there and will cause you problems.

Take your credit file to a good whole of market broker for some advice on the best way to proceed.

Sorry I can't be more positive