Adverse Credit Mortgage
Adverse Credit Mortgage
Adverse Credit Mortgage Solutions
Finding the right mortgage with adverse credit, often referred to as bad credit or poor credit, can be challenging. However, it's not impossible. At Bradgate Financial Solutions, we specialise in helping individuals with adverse credit history secure the right mortgage for their needs. Whether you've faced bankruptcy, CCJs, repossession, or other financial difficulties, our team is here to guide you through the process with care and expertise.
With over 20 years of experience and access to the whole mortgage market, we provide personalised advice and tailored solutions to help you achieve your homeownership goals.
How Does an Adverse Credit Mortgage Work?
Adverse credit mortgages are designed for individuals with less-than-perfect credit histories.
Our expertise ensures you receive a clear path to securing a mortgage, even with credit challenges in your past.
- Credit Assessment We begin with a detailed review of your financial and credit history to understand your situation.
- Tailored Recommendations Using our whole-of-market access, we identify lenders who specialise in adverse credit mortgages and find the best deal for you.
- Application Process We guide you through every step of the application, ensuring your paperwork is accurate and complete to maximise your chances of approval.
How Long Each Marker Lasts
Adverse credit is not permanent, and knowing when each item drops off your file often changes the sensible plan — sometimes waiting a few months materially improves what is available.
Most entries remain on your credit file for six years from the date they were recorded, then disappear automatically.
Defaults
run six years from the default date, not from the date the account opened or the date you settled it. A default registered five years ago has one year left regardless of when it was paid.
County court judgments
run six years from the judgment date. Pay one in full within a month and it can be removed entirely; pay later and it is marked satisfied but stays for the six years.
Bankruptcy
is normally discharged after twelve months, but remains on the file for six years from the bankruptcy date. Individual voluntary arrangements stay six years from the start, which is often well after the arrangement itself has completed.
Missed payments
on an account show for six years, though their weight fades markedly as they age.
Repossession
is the most serious and the slowest to move past, particularly where a shortfall remains outstanding.
Two distinctions carry more weight with lenders than borrowers expect. Satisfied is much better than unsatisfied — an outstanding judgment or default suggests an unresolved liability, and many lenders will not proceed at all until it is cleared. And age matters more than amount: a small default from five years ago is generally a smaller obstacle than a larger one from last year.
Preparing Before You Apply
The months before an application are worth using deliberately, and most of what helps costs nothing.
Get your files first
The three main credit reference agencies hold different information, and lenders do not all use the same one. Check every one, because a marker can appear on a single file. Errors are common — accounts recorded twice, settled debts still showing open, addresses you have never lived at. Dispute anything wrong; the agency must investigate.
Clear what you can, and get it marked satisfied
Even where the entry remains visible, satisfied status opens up lenders that would otherwise decline.
Register on the electoral roll
at your current address. It is one of the simplest positive factors and is frequently missing.
Keep everything current for as long as possible
A clean recent run — ideally twelve months with nothing missed — carries real weight, because lenders read the trend as much as the history.
Reduce credit card balances
below roughly half their limits, and close cards you no longer use.
Stop applying
Each application leaves a hard search, and a cluster of them reads as difficulty. This is why using a broker matters with adverse credit: placing the case with a lender whose criteria you actually meet, first time, protects the file. A declined application makes the next one harder, and there is no need to find that out by experiment.
Save a larger deposit if you can
With adverse credit, deposit size is the lever with the most effect on both approval and rate.
Can I Get a Mortgage with Bad Credit?
The short answer is yes. Whether you've experienced bankruptcy, a CCJ, or repossession, it's possible to secure a mortgage. Here are some common scenarios:
- Bankruptcy Even if you've been bankrupt, you can still get a mortgage. The amount you can borrow depends on how long ago your bankruptcy was discharged. The more time that has passed, the better your borrowing potential.
- CCJs and Defaults If you've defaulted on a previous mortgage or have a CCJ, lenders may still consider your application. Factors like illness or redundancy that led to financial difficulties will be taken into account.
- Repossession Having a home repossessed doesn't mean you can't apply for a new mortgage. While lenders will be cautious, we can help find the best deal for your circumstances.
Benefits of an Adverse Credit Mortgage
Choosing Bradgate Financial Solutions for your adverse credit mortgage ensures access to a wide range of lenders, allowing us to find specialised products that cater to individuals with poor credit. Our advisors provide personalised support, taking the time to understand your unique circumstances and tailoring solutions that meet your needs. By presenting your case accurately and effectively, we enhance your chances of securing a mortgage approval. From the initial consultation to the finalisation of your mortgage, we guide you through every step, ensuring the process remains smooth and stress-free.
Our Other Mortgage Solutions
Our extensive range of services ensures that no matter your needs, we have the expertise to assist.
At Bradgate FS we aim to make choosing and applying for a mortgage, protection, loan or insurance as stress-free as possible.
Don't let bad credit hold you back from owning your dream home. Contact Bradgate Financial Solutions for a free consultation, and let us help you secure the right adverse credit mortgage for your needs. With our guidance, homeownership is within reach.
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Common questions
How does bad credit affect my mortgage options?
Bad credit may limit your choice of lenders and require a higher deposit. However, specialised products are available to accommodate these situations.
Can I improve my chances of approval?
Yes, paying off outstanding debts, improving your credit score, and providing detailed financial records can enhance your application.
Will I need a larger deposit?
In many cases, yes. Lenders often require a deposit of at least 10-20% for those with adverse credit.
How long does it take to get approved?
The timeline varies but typically takes a few weeks. We ensure your application is processed efficiently.
Are interest rates higher for bad credit mortgages?
Yes, interest rates are generally higher to reflect the increased risk for lenders. However, we work to find the most competitive rates available.
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