We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Best adverse credit lenders

Can anyone suggest what mortgage lenders to use right now with adverse credit? We are using a broker but wanted to get some advice on here. 

Thanks 

Comments

  • ACG
    ACG Posts: 24,952 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    There are not too many in the market at the minute, but there is no "best" it comes down to your circumstances. 
    We do a lot of adverse, most of our applications (around 70%) are going in to a little building society. 


    I am a Mortgage Adviser
    You 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.
  • Depends on what ltv you are looking for and what kind of adverse you have 
  • _AandL_
    _AandL_ Posts: 88 Forumite
    10 Posts First Anniversary Name Dropper
    We have a 75% LTV. My partner has two defaults from 2015 & 2017. Then I have a ccj from 2018.  
  • haras_n0sirrah
    haras_n0sirrah Posts: 1,339 Forumite
    1,000 Posts Name Dropper
    If the defaults and the ccj are satisfied there should be options without crazy interest rates. It will depend on the amount of the default and when it was settled. Best thing to do is speak to a broker. If you dont have one already many of us brokers who post here are independent brokers. We are not allowed to approach forumites but most of us are happy to respond to pm's. Why not read the boards and pm a broker you feel can help. 
  • ACG
    ACG Posts: 24,952 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    As above, if all have been satisfied I would like to think normal rates or near normal rates.
    If they have not been and you can get to 30% deposit, I would still like to think normal(ish) rates.

    Worst case scenario would be around 4-4.5%.

    Rather than asking vague questions, why not find a broker? You will probably need one when it comes to it so just let them do the graft for you.
    I am a Mortgage Adviser
    You 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.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 354.3K Banking & Borrowing
  • 254.4K Reduce Debt & Boost Income
  • 455.4K Spending & Discounts
  • 247.3K Work, Benefits & Business
  • 604K Mortgages, Homes & Bills
  • 178.4K Life & Family
  • 261.5K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.