Adverse credit mortgage broker help

corncob82
corncob82 Posts: 26
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edited 14 December 2023 at 3:52PM in Mortgages & endowments
I am currently in the  middle of selling my family home following a separation. My children and I have moved into rental accommodation until it is finalised, I will then be looking to purchase our own home with around a 27% deposit. However, the first month I moved out, my ex partner paid the mortgage 2 days late and this was reported on my credit file as a missed payment (our mortgage lender report anything that is paid in the following calendar month) and now I’m worried I will struggle to get a mortgage as many avenues I’ve gone down online have basically claimed they are unable to help. Any recommendations for an adverse credit lender?

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  • ACG
    ACG Posts: 23,624
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    Speak to a broker. 
    It might be possible to avoid adverse lenders. 
    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.
  • Thanks, I usually go through London and Country so I'll get in touch with them
  • You'll want to use a decent broker, rather than L&C. Your case is likely to need some consideration rather than just banging in an application.
  • lemliss
    lemliss Posts: 81
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    Unsure if ACG takes clients from here but (he? She? They?) Have always been helpful.
    I'm happy to recommend my broker if you need a different recommendation as they've gone above and beyond for me.
    NATIONWIDE FTB -
    Full application- 8th July 2020
    Hard credit check - 19th July 2020
    Physical Valuation carried out - 5th August 2020
    Valuation received by Nationwide - 7th August 2020
    Offer via text message - 18th August 2020
    Message via text saying revised mortgage offer - 13th November 2020
    Exchanged contracts - 16th December 2020
    Completed - 18th December 2020

    VIDA HOME MOVER SOLE MORTGAGE
    Full application - 29 November 2023
    Requested more documents - 
    4th December 2023
    Offer subject to Valuation- 6th Dec 2023
    Valuation booked - 6th December 2023
    Physical Valuation carried out - 7th December 2023
    Underwriting 11th December 2023
    Mortgage offer - 20th December

  • chanz4
    chanz4 Posts: 10,852
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    corncob82 said:
    I am currently in the  middle of selling my family home following a separation. My children and I have moved into rental accommodation until it is finalised, I will then be looking to purchase our own home with around a 27% deposit. However, the first month I moved out, my ex partner paid the mortgage 2 days late and this was reported on my credit file as a missed payment (our mortgage lender report anything that is paid in the following calendar month) and now I’m worried I will struggle to get a mortgage as many avenues I’ve gone down online have basically claimed they are unable to help. Any recommendations for an adverse credit lender?
    try mortgagesuccess.co.uk
    Don't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.
  • As others have said, look for a decent broker who deals with adverse credit. A broker like L&C don't give it enough time in my opinion. You might need to pay them a little but if they get you the mortgage it's probably worth it.
  • ACG
    ACG Posts: 23,624
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    chanz4 said:
    corncob82 said:
    I am currently in the  middle of selling my family home following a separation. My children and I have moved into rental accommodation until it is finalised, I will then be looking to purchase our own home with around a 27% deposit. However, the first month I moved out, my ex partner paid the mortgage 2 days late and this was reported on my credit file as a missed payment (our mortgage lender report anything that is paid in the following calendar month) and now I’m worried I will struggle to get a mortgage as many avenues I’ve gone down online have basically claimed they are unable to help. Any recommendations for an adverse credit lender?
    try mortgagesuccess.co.uk
    I have heard they are pretty good  :D
    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.
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