Adverse Credit Mortgages

Improve Your Chances of Securing a Mortgage

Applying for adverse credit mortgages doesn't have to be stressful. There are practical steps you can take to improve your acceptance chances when working with a reputable mortgage broker in Kent like us.

Build Up Your Credit Score

Start by getting a copy of your credit file & making sure all details are up to date. Look for errors or outdated information, correcting these by contacting the relevant credit agency. Pay all your current credit commitments on time, as this demonstrates reliability to lenders. If you don't currently have any active credit, carefully using a credit facility, for example, a small credit card with manageable spending, can help to show your financial responsibility. Always stay within agreed limits with your bank, such as keeping to your arranged overdraft.

Ask for Help from Family

Enlisting a family member to act as a guarantor may improve your options. If you're buying with a partner, their credit score matters too. Work together to address any weaknesses & strengthen your application.

Explain Bad Credit

Sometimes, bad credit is the result of unexpected life events. Adding a note of correction to your credit file can help lenders understand your individual circumstances, especially if you've taken positive steps to recover financially.

Avoid High Risk

Make sure you can prove your ability to keep up with mortgage repayments. This means having stable income & being able to clearly evidence your finances & outgoings.

Consider a Cheaper Property

Opting for a more affordable home can make it easier for lenders to approve your application, especially if it means you can put down a larger deposit.

Save Up for a Bigger Deposit

Lenders are generally more willing to offer adverse credit mortgages if you can provide a larger deposit, reducing their risk. Ask family if they can help with a gifted deposit.

Be Honest

Being truthful on your application is vital. Mortgage lenders undertake thorough checks, so honesty ensures your application is considered in the best possible light.

Seek Expert Advice

The process is much smoother with a qualified & experienced mortgage broker who understands the adverse credit marketplace. At Mortgage & More, we have access to subprime mortgage lenders & a wide range of options, from remortgages for bad credit to post-bankruptcy mortgages. Our impartial, reliable service gives you access to mortgage products that can help you make a new start.