How can i get a mortgage with bad credit?

moneyburner

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

mr.broderick

You need to speak to a free whole of market mortgage advisor/broker.

A good deposit would help??

herbiesjp

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

HTH