Bad Credit Mortgage Broker

tattybye

Hi there,
Looking into the prospect of a mortgage, i have bad credit on my file due to a previous partner, this went to default but back in 2016.

I realise that this means i need a specialist broker, so could anyone recommend anyone that i can contact that could help with this?

Any help appreciated.
Thanks

Whats_your_forte

There would be no need to go to a specialist broker on this front. Ideally somebody independent and experienced should be able to handle your request without any issues whatsoever.

There are a lot of brokers that advertise themselves as specialists in certain areas but it really is just that - marketing.

The key thing would be to get all your details together including an up-to-date credit file as the dates of adverse credit tends to be the most critical part of such an application and we always ask to see at least two of the main credit files before being able to place such cases you

tattybye

Whats_your_forte wrote: »

The key thing would be to get all your details together including an up-to-date credit file as the dates of adverse credit tends to be the most critical part of such an application and we always ask to see at least two of the main credit files before being able to place such cases you

Just in the process of putting all of this info together today now.
Including the bank statements and wage slips etc.
Printed everything out to show a broker.
Also have details of deposit etc where its been saved..

Thanks for the advice

ACG

Whats_your_forte wrote: »

There are a lot of brokers that advertise themselves as specialists in certain areas but it really is just that - marketing.

I disagree with this. We specialise in the adverse market and it is scary how many times I come across brokers who recommend an adverse/specialist lender yet we manage to place it at normal rates. 90% of what we do is adverse so not only do we deal with defaults/CCJs bankruptcy daily, we also have access to criteria and products that other brokers do not even know about, let alone have access to as they are not published anywhere.

I dont think our OP necessarily needs a specialist broker or lender, but an experienced one will hopefully not just take the cracking a nut with a hammer approach as I would like to think there are normal rates available.

tattybye

ACG wrote: »

I dont think our OP necessarily needs a specialist broker or lender, but an experienced one will hopefully not just take the cracking a nut with a hammer approach as I would like to think there are normal rates available.

How would i know that they are taking the right approach? and not the way that you have mentioned above?

ACG

tattybye wrote: »

How would i know that they are taking the right approach? and not the way that you have mentioned above?

In general you wouldnt.
However after the replies to this post, I think you need t be looking out for what they say/do. If they go straight to specialist lenders you should probably walk away. If they are at least considering normal rates that seems fairly promising.

kingstreet

A single default more than three years ago would normally be placeable at high street rates as ACG and Wyf allude to.

The fees payable should not be at the "serious" end of adverse credit lending.