Bad Credit Mortgage

Trying to get a mortgage or remortgage with bad credit

The adverse credit mortgage sector - for people with some form of bad credit registered against them - is one of the fastest-growing and most competitive areas of the mortgage market. With borrowing at an all-time high in the UK, it is inevitable that many people, often through no fault of their own, will have some form of bad credit registered against them - and in these cases, a bad credit mortgage could be the answer.

Obtaining a remortgage or mortgage with bad credit on your credit file can be an uphill struggle, but it's a struggle that more and more people in the UK are having to face. Many high street lenders may refuse your remortgage or mortgage application if you have any adverse credit at all – even if your credit file only shows one small missed payment.

This can be especially frustrating because the lenders will often refuse to consider your individual situation.

Many High Street lenders may refuse to lend to you if you have any adverse credit at all, even if your credit file only shows one small missed payment. This can be especially frustrating because they will often refuse to consider your individual situation.

Adverse credit mortgages

Help may be at hand though - with an adverse credit mortgage, also known as a bad credit mortgage. Away from the High Street, many other lenders will tailor their service and loans to your individual situation and look sympathetically at any adverse credit you may have. In contrast to the impersonal attitude you may have encountered on the High Street, they understand that the problems you may have had in the past don't necessarily point towards further problems in the future - and they could be willing to offer you a bad credit mortgage.

The adverse credit mortgage loan market is now highly competitive: as specialist brokers, we have both the access to the whole of this market, and the knowledge and experience to back it up.

How much will a bad credit mortgage cost me?

Assessing what is the cheapest option can be complicated when it comes to adverse credit mortgages. We can advise you on the lenders' policies and help to ensure that you end up with the mortgage which most suits your individual needs.

Who qualifies for an adverse credit mortgage?

People from all walks of life with various kinds of bad credit on their files could benefit from an adverse credit mortgage. You may like to talk to one our mortgage brokers about this option if, for example, you've got a poor credit record, with the credit reference agencies that most lenders use - Experian and Equifax. You might even have a low credit rating if, for example, you've just missed a couple of credit card payments.

There's a CCJ on my file, can I still get a bad credit mortgage?

Having a County Court Judgement (CCJ) on your file doesn't necessarily mean that you won't be able to get a mortgage. Lenders consider a number of factors, including whether you've satisfied the CCJ or not. Once our mortgage brokers have your details, they'll be able to source the whole of this area of the market, using their expertise and excellent relationships with CCJ lenders to offer you a range of competitive bad credit mortgages.

Can I use a bad credit mortgage to consolidate my debts?

If you are juggling many different repayments each month, it may be possible to use a bad credit mortgage to refinance, by consolidating all your debts into one affordable loan.

With the bad credit mortgage refinance market now so competitive in the UK, you can choose from a wide range of products from specialist lenders.

It may even be possible to secure a flexible adverse credit refinance mortgage which allows you to pay back the additional debts - aside from your mortgage - you've consolidated, over a shorter term, while paying interest at a much lower rate. The pros and cons of debt consolidation mortgages can be found here.

What about getting an adverse credit mortgage after bankruptcy, mortgage arrears or IVAs?

There are now a number of UK lenders who'll consider an adverse credit mortgage after IVAs (Individual Voluntary Agreements), defaults, mortgage arrears - and even after bankruptcy. Here, lenders will offer tailored products to clients with a wide range of personal circumstances.

Sub prime mortgage lenders have different criteria to satisfy in each case - with this sector of the market now so competitive, it's vital that you obtain the best possible advice.

Further information

If you'd like more information on securing an adverse credit mortgage, please consult the relevant pages of our website, or call one of our mortgage brokers.

Poor credit mortgages	Refinance with bad credit
Mortgages with CCJs	Mortgages after bankruptcy or IVAs

Please click here for a mortgage quote. All enquiries will be forwarded to LIMA Financial Services LTD: LIMA Financial Services LTD have access to the following lenders and Insurers Residential Lending:
Abbey	GMAC	Preferred
Accord	Halifax	Principality
Advantage	Infinity Mortgages	Progressive
Alliance & Leicester	Intelligent Finance	Royal Bank of Scotland
Bank of Scotland	Kensington	Scottish Widows
Bank of Ireland	Leeds	Skipton
Birmingham Midshires	Lloyds TSB	SPML
Bristol & West	Mortgage Express	Standard Life Bank
Buildloan	Mortgages Plc	The Mortgage Works
Capital Home Loans	Mortgage Trust	TMB
Chelsea	Nationwide	The Mortgage Business
Cheltenham & Gloucester	Natwest	The One Account
Coventry	Northern Rock	UCB Homeloans
Dunfermline	Norwich & Peterborough	Ulster Bank
Edeus	Paragon	West Bromwich
First Active	Platform	Woolwich
First Trust	Portman
Lenders accessible through The Packagers:
Amber	Future	Money Partners
Beacon	High Street Homeloans	Rooftop
DB Mortgages	I Group	Scarborough
First National	London & Scottish	Swift
Freedom Lending	London Mortgage Co	Unity and Victoria Mortgages
Commercial Lenders:
BOI	Heritable	Northern Rock
BOS	Interbay	RBS
Chase UK	Natwest	TBMC
Fiducia
Overseas Property:
Blevins Franks	Conti Financial Services	Fidentia Group
Life Insurance Providers:
Axa	Friends Provident
Bupa	Health-on-line and Standard Life