Adverse Credit Mortgages | Bad Credit

More and more people are looking for bad credit mortgages in the UK – that’s why Mortgage Buddy exists.

As the experts in mortgages for bad credit, we’re here to give you the information you need to make an informed choice. Our services are designed to help those that have a history of failing to keep up with one or more previous credit agreement, resulting in a bad credit report.

Find out about the bad credit mortgages available and what you should bear in mind when you’re looking for one. We’re also here to get you the right mortgage for your needs. Get started with our simple online quote checker and find your the best bad credit mortgage option for you.

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Can I get a mortgage if I have a bad credit score?

The idea of a bad credit mortgage didn’t really exist before the 2007/08 Financial Crisis. Before the crisis, banks would tend to lend to almost anyone, meaning that mortgages were often given to people who couldn’t realistically afford them. After the crisis, banks became more cautious with their lending, but there were still people who needed mortgages but who had no one to turn to. Many new lenders emerged which had different ways of working from the banks and which were able to offer mortgages to people with adverse credit, when the banks often couldn’t.

What this now means is that there are lots of reputable new mortgage lenders that might be able to lend to you. Each lender is different, however, and so there are many details to consider before getting your bad credit mortgage.

This is why we started Mortgage Buddy. We feel you need a specialist who knows who to approach and take the legwork out of finding your ideal mortgage. Get a quote with our simple online form.

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How to improve your credit score

There are no hard and fast rules when it comes to improving your credit score. It can also be a painful process because any changes you make can take months to have any impact on your score. There are a few things you can do, though, that can boost your credit score:

Register to vote – not only is it your democratic right and duty to vote, being on the electoral roll is a way for lenders to determine your identity. Some lenders might flatly decline a bad credit mortgage application if the applicant isn’t registered. If you’re not already registered you can do it on the government’s website in less than five minutes.
Correct any errors – if you spot anything on your credit file that’s incorrect then you have the right to get it corrected. First, check whether the error is also there on other credit reference agencies’ reports. Then speak with your lender about the error (this is where a mortgage buddy can really help!).
De-link from any bad credit exes – being financially linked to someone who’s had credit issues can affect your own credit score. You can de-link from them by asking the credit reference agencies for a ‘notice of disassociation’.
Keep on top of your credit – this one seems obvious but it’s also really important. Keep up to date with payments for bills and that’ll be one potential credit issue you don’t need to worry about.

If you’re struggling with adverse credit and are looking for a mortgage, get in touch with us using the form below, we’ll get back to you with a quote as well as some free advice on getting a bad credit mortgage.