Is it possible to get a mortgage with bad credit?

*DaDa

Hi,

As above really?

Anyone with bad credit ever managed to get a mortgage?

Ive seen a couple of websites who give people with bad credit a mortgage at a high rate?

Anyone ever done this?

Thrugelmir

There are some specialist lenders in the market. The interest rate would reflect your circumstances.

kingstreet

Yes.

Subject to;-

- income
- valuation
- deposit
- age of adverse credit
- value/amount of adverse credit

and the rest of the stuff that goes into the lender's decision-making processes.

*DaDa

Thanks for your helpful advice.

kingstreet

Find yourself a good independent or whole market broker.

Get hold of all three of your statutory credit files;-

Equifax

https://www.econsumer.equifax.co.uk/...erletter.ehtml

Experian

https://secure.wiseconsumer.uk.exper...x.html?data=00

CallCredit

https://www.callcredit.co.uk/stat-re...pl=regPurchase

which you should take along to a meeting with the broker. Ask friends and relatives for a recommendation. Failing that, usewww.unbiased.co.uk remembering to switch off "sponsored ads only" option so you get a full list, not just the paid-for adverts.

The £2 statutory paper files will be fine. Avoid online schemes you have to pay for which give you your inside-leg measurement and call it a "credit score" as this is different to the lender's, the one which actually matters to you...