Credit Impaired

With all standard mortgage applications, the potential lender will take account of your personal credit rating.

Sometimes you may have a ‘poor’ credit rating due to:

•    Late or missed payments
•    Defaults or unpaid debts
•    County Court Judgements
•    Debt management plans
•    IVA
•    Bancruptcy

In these circumstances many mainstream lenders may not be prepared to consider your application for a mortgage.

However, there are alternative lenders who will look beyond a credit score, reviewing your personal circumstances and potentially offer opportunities for lending. In actual fact, these lenders look for a reason to lend rather than a reason not to.

Application process:

These lenders look beneath the surface of your application rather than just examining your credit score and offer a far greater level of flexibility compare to some high street banks. They asses affordability using your income and your current financial commitments.

These lenders can consider multiple types of applications such as; ‘first time buyers’, moving home, remortgages, buy-to-lets and even older borrowers. This enables customers to finance for their needs now and also provides time to correct and improve their credit rating with the goal of remortgaging to a more mainstream lender in the future - who may then offer a more financially competitive option.

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To discuss this further call or email us and we can chat through your personal circumstances and make a plan to help you reach where you want to be.