Bad Credit Mortgage Broker Nottingham
​The majority of our customers think that because they have bad credit they won't be able to get a mortgage and that's where our specialist mortgage advisors prove them wrong. We help many people with different types of bad credit get a mortgage on a regular basis.
As specialist in adverse credit, we have years of experience helping customers navigate the sometimes complicated mortgage process when you have bad credit. When we carefully assess your circumstances and review the type of bad credit you have, we will be able to give you the best advice and what the likelihood of securing a bad credit mortgage is.
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We can help secure a bad credit mortgage if you have had any missed payments across your credit agreements, Defaults, County Court Judgement (CCJ), Debt Management Plans (DMP), Individual Voluntary Agreements (IVA) and even if you've been bankrupt.
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We work very closely with bad credit mortgage lenders that allow all categories of adverse credit. When our advisors know what type of bad credit you have, we will know what mortgage lenders to approach to get you the best mortgage possible.​
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What are bad credit mortgages?
Bad credit mortgages (also known as subprime mortgages) are home loans designed for borrowers with lower credit scores or limited credit history. Traditional lenders, such as banks and mortgage companies, typically reserve their best rates and products for individuals with strong credit ratings. However, for people with low scores or bad credit getting approved for a standard mortgage can be challenging and that where our bad credit mortgage brokers can assist you in finding your next mortgage.
How do I get a bad credit mortgages?
Securing a bad credit mortgage can be more challenging than obtaining a conventional mortgage, but it’s definitely possible with the right bad credit mortgage broker assisting along the way. Rather than you approaching many different banks and mortgage lenders, having lots of mortgage appointments ending in them refusing to lend due to your bad credit, have just one appointment with our professional adverse credit mortgage advisors and let them do the rest. With our years of expertise in this area, we have helped many people with bad credit secure a mortgage. Whether that be a purchase application or remortgage. We have many bad credit mortgage lenders on our panel that specialise in all types of adverse credit.
What is bad credit?
Bad credit refers to a low credit score or a poor credit history that indicates to lenders, banks, and financial institutions that a borrower is at higher risk of defaulting on their loans or credit obligations. Different types of bad credit are bankruptcy, IVA’s, County Court Judgements or also commonly known as CCJ, defaults and missed payments on your credit commitments. Don’t worry if you’ve had any of the above situations though, contact our bad credit mortgage brokers and let them find you the best mortgage today.
What is a Credit report
A credit report is a detailed record of your credit history compiled by credit reporting agencies (also known as credit bureaus). It provides information about your borrowing behaviour, repayment history, and current credit status. Lenders, creditors, and other entities use this report to assess your creditworthiness—essentially, how likely you are to repay borrowed money or manage financial obligations responsibly.
There are three major credit bureaus in the United States:
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Equifax
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Experian
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TransUnion
Each of these agencies collects and maintains your credit information independently, so your credit report may slightly differ among them.
Key components of your credit file
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Personal information – Name, DOB, NI number, addresses etc
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Details about your current credit commitments – Providers, type of commitment loan/credit card, amount you borrowing, term etc.
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Past credit commitments
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Public records - If you’ve ever been bankrupt or have a county court judgement.
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Payment history – List of any missed/late payments, arrears etc
How difficult is it to get a bad credit mortgage
Securing a bad credit mortgage can be challenging, but it is not impossible. The difficulty largely depends on factors like the severity of your credit issues, the type of mortgage you're applying for, and your overall financial situation. Our bad credit mortgage advisers are specialists with adverse credit, they will review your bad credit and know if it would potentially fit with a subprime / bad credit mortgage lender.
Can you purchase a property if you’ve got bad credit
Absolutely you can purchase a property even if you have bad credit, however you will need to consult with one of our bad credit mortgage advisors because the process is a little more challenging. As experts in adverse credit, they will know what bad credit mortgage lenders you would potentially fit with depending on the type and severity of your bad credit.
Are there different types of bad credit mortgages
Yes, there are different types of bad credit mortgages, the difference between them would depend on the type of bad credit you have on your credit file and that would determine the interest rates you would be able to secure. Having a couple of missed or late payments opposed to someone that has been bankrupt would influence the products you have available. Our bad credit mortgage broker would be able to explain this further.
Can you remortgage with bad credit?
Of course, like mentioned above, depending on the type of bad credit you have would depend what products and bad credit mortgage lenders you have access to. If you are with a high street lender already, our bad credit mortgage advisers would review and see would it be better to remortgage you to a bad credit mortgage lender or can we keep you with your current lender.
Do lenders accept all bad credit?
No absolutely not. A lot of mortgage lenders don’t accept bad credit at all. Some lenders will take the lighter adverse credit for example a couple of missed or late payments on a credit card payments. However, our mortgage advisers will have access to bad credit mortgage lenders that will accept the majority types of bad credit.
Can you consolidate debt with bad credit?
Yes, you can consolidate debt with bad credit. One of our specialist mortgage advisers will know which adverse credit mortgage lenders would accept your bad credit along with what lenders would also allow you consolidate debt.
What deposit do you need for a bad credit mortgage?
Generally, when you have bad credit, bad credit mortgage lenders will put you into risk categories depending on what adverse credit you have and when the bad credit happened. If you bad credit is quite severe then you would be categorised as a high-risk borrower and therefore to get a mortgage you may need a higher deposit to satisfy the lenders. It can vary from person to person hence we always say speak to our advisers who will be able to advise you straight away however to give you a guide, it could be from 10% up to 30% deposit.
Can I get mortgage with default?
Yes, you should be able to get a mortgage with a default. Adverse credit mortgage lenders would assess defaults by;
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When the default was registered
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What the default balance was at the time it was registered
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If you had a default last month opposed to 4 years ago, that would hugely affect your chances of getting a bad credit mortgage.
Can I get mortgage with a County Court Judgement (CCJ)
Yes, again you should be able to get a mortgage with a CCJ. Bad credit mortgage lenders would assess CCJ very similarly to defaults, however they would also want to know if it’s settled or unsettled. Some mortgage lenders require for them to be paid off and within a certain time period. Obviously to get the better rates, the longer ago the bad credit was, the more likely to get a better product and lower interest rate.
Can I get mortgage with missed payments
Missing payments massively depends on what you have missed payments on. Missing payments on a mortgage or a secured loan is a huge red flag for the bad credit mortgage lenders. They will categorise you as high risk and charge you high interest rates. However, being late on a credit card 3 years ago will usually be okay. Circumstances matter. Missed payments on credit cards, personal loans, credit agreements are not as serious as mortgage/secured loans but depending on how many missed payments and when these missed payments happened, would impact the mortgage products you would be eligible for.
Can I get mortgage if I’ve missed payments on my mortgage
As mentioned above, this can be a red flag for the lenders. Missing payments on your mortgage it is possible to get a bad credit mortgage however it depends on when the missed mortgage payment was and if the mortgage is up to date now. The further ago in the past it was, the better chance of getting the mortgage.
Can I get mortgage with if I’m in Debt Management Plan (DMP)
Having a debt management plan or sometimes known an arrangement with your creditor won’t stop you from getting a mortgage providing you have been keeping up to date with the agreement and having no missed payments. Adverse credit mortgage lenders prefer if you’ve been in the debt management plan for at least 12 months, however our advisors do have access to lenders that will be able to consider you if you’ve been in the plan a year.
Can I get mortgage if I’m in IVA or had an IVA in the past?
Individual Voluntary Agreements or commonly known as IVA are when you enter in a voluntary agreement with your creditors to repay your debts over a set period. It’s an alternative to bankruptcy, designed to help individuals who are struggling with their unsecured debts. If you’ve been in an IVA in the past and have stuck the agreement and paid it off, then you should be able to secure a mortgage. Depending on when it discharged, can influence what lenders you would have access to. Now if you are in an IVA currently, there are a limited number of bad credit lenders that can potentially assist and good news is our mortgage advisers have a good relationship with these types of adverse credit lenders. We can speak with them directly and they can assess your situation overall to see if it would be something they would consider.
Can I get a mortgage if I’ve been bankrupt?
Yes it is certainly possible to get a mortgage if you’ve been bankrupt in the past. Like other bad credit but most important it's crucial on how long ago did you file for bankruptcy?. The further it was ago, the more chances of getting a mortgage. This is one of the most severe type of adverse credit. The good thing about Your Mortgage Manager and how we can help you is that we have some great bad credit mortgage lenders on our panel and I’m sure we would find lender that could help you secure a bad credit mortgage after being bankrupt.