Poor Credit Mortgages

If you miss a credit card payment, pay less than is required or forget to pay a parking ticket it all gets added to your credit history. Over time, these small mistakes can lead to your credit score being classified as poor or very poor. Many people these days have poor credit history or no credit history at all. If you want to apply for a mortgage but have a poor credit history we can help you find the best mortgage solution.

Why it’s good to seek help of a professional mortgage advisor? 

When applying for a mortgage with poor credit, it helps to show yourself in the best possible light and choose the right lenders, which is why you should seek the help of a professional mortgage advisor.

Applying for a mortgage with bad credit can require professional help. In these circumstances, choosing the right mortgage lender is very important because it can help you avoid further poor credit ratings from having applications turned down.

We have access to thousands of mortgage deals, including lenders who specialize in offering poor credit mortgages, which means that you don’t need to worry about the stress of your credit situation when acquiring a mortgage. Way Better Finance will also advise you on how to get your poor credit rating up prior to applying for your mortgage.

Applying for a mortgage with poor credit

Getting a mortgage with poor credit is possible but you’ll probably pay higher interest rates and you may need to come up with a larger deposit.

How does it work?

Poor Credit Mortgages work almost exactly the same way as conventional mortgages. The difference is that the lender can demand a larger deposit than they would on a conventional mortgage and you might not be able to borrow as much. Plus, interest rates are likely to be much higher.

What is affecting my credit history?
There are many things that can affect your credit rating these days: you may have missed a few credit card payments, had a County Court Judgment awarded against you, or have previously been made bankrupt. There are lots of reasons you might be left with a bad credit rating.

Schedule a free consultation and speak to one of our specialist advisers right now to find the most suitable mortgage deal.