What if I have bad credit – can I still get a mortgage?
If you have a bad credit score, don’t feel disheartened as it’s still possible to get a mortgage – if you know where to look. Our expert mortgage advisors at Deal Direct, have plenty of experience in this area and a thorough knowledge of each lenders’ criteria. We know which ones are more approachable and willing to assess applications on a case-by-case basis.
Lenders like to feel reassured and in the absence of a good credit history, and to mitigate the level of risk in approving a loan, they typically look for three things:
- A regular income.
- A larger than average deposit of between 15 – 30%.
- That you haven’t been made bankrupt within the last 6 years.
Interest rates may be higher but most types of mortgage deals are likely to be available, including fixed rate, discounted rates and variable.
Our highly qualified team members at Deal Direct can offer you free, no-obligation and impartial advice on mortgages from across the whole of the market. We’ll make the comparisons for you, so you can clearly see the cost of each offer, as well as the difference the fees and charges make to your monthly repayments. It is essential that this comparison is done to make certain of obtaining the mortgage that perfectly suits your requirements.
Your credit rating may not be as much of an obstacle as you think.
Speak to one of our independent mortgage advisors today on 0800 048 8828.
