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It’s important not to panic if you have bad credit; we have known many customers who are trying to get a mortgage when their credit score isn’t perfect. The good news is that we can assist the majority of these customers in securing mortgages even with a bad credit history.
As a mortgage broker in Bristol, we have partnerships with a variety of lenders, both high street and specialist. As a result, we can search through 1000s of mortgage deals to try and find a product tailored to you.
Most of our clients often attempt to secure a mortgage through their bank or an online price comparison website before speaking to us. What they often overlook is the negative impact of carrying out unnecessary credit checks on their ability to get a bad credit mortgage.
Securing a mortgage with bad credit in Bristol isn’t as straightforward as locating the most affordable interest rate and applying for it. The process calls for a technical and strategic approach; something an experienced mortgage broker in Bristol is adept at handling.
A mortgage broker in Bristol like us will strive to match your situation with the appropriate lender the first time around, thus protecting your credit score from further damage.
Our experienced mortgage advisors in Bristol specialising in bad credit are here to help. They will carefully evaluate your bad credit situation – when the bad credit was recorded, what caused it, whether it’s now resolved, the amount involved, etc., to help chart the most appropriate course of action.
Different forms of bad credit mortgages exist, such as CCJs (county court judgment), DMPs (debt management plan), defaults, delayed or missed payments, IVAs (individual voluntary agreements) and even bankruptcy.
If you are considering getting a new mortgage and are concerned about your credit score, you can speak with one of our mortgage advisors in Bristol today to find out what your mortgage with bad credit options are.
If you’re searching for a bad credit mortgage in Bristol, it’s essential to understand that a deposit of at least 10% is typically required. This deposit can come from your savings or as a gift deposit from a family member or friend.
A common characteristic of nearly all mortgage types, including bad credit mortgages, is that a larger deposit can open up access to better rates.
When it comes to bad credit mortgages, several factors influence the required deposit amount. These factors include the nature of your credit issue, when it occurred, the amount involved, and its current status—whether it is settled or outstanding. Generally, lenders view smaller or older credit issues with less caution than recent or larger ones.
Yes, it is possible to get a debt consolidation mortgage in Bristol even with bad credit. Lenders will assess your financial situation, including the severity and timing of your credit issues, your income, and the equity in your property.
Having a larger deposit or significant equity in your home can improve your chances. Lenders prefer applicants who can demonstrate a commitment to managing their finances, so settling outstanding debts and improving your credit score where possible can be beneficial.
Each lender has different criteria, so speaking to a mortgage advisor in Bristol who specialises in bad credit mortgages can help you find the best options available for your situation.
Indeed, securing a mortgage with bad credit in Bristol is achievable. Specific types of adverse credit that could be considered for such a mortgage include:
– County Court Judgements (CCJs)
– Debt Management Plans (DMPs)
– Missed payments
– Defaults
– Individual Voluntary Arrangements (IVAs)
– Bankruptcy circumstances
– Poor or low credit scores
– High debt levels via personal loans and credit cards
When you’re ready, arranging your free mortgage appointment to speak to a professional can provide clarity and answer any pressing questions. Remember, every situation is unique, so personalised advice will benefit your decision-making process the most.
Yes, securing a mortgage with a county court judgement in Bristol (CCJ) can be achievable, even for mortgages with up to 95% loan-to-value (LTV). While having a CCJ poses unique challenges, several tailored bad credit mortgage options are available.
Whether your CCJ is satisfied, partially satisfied, unresolved, set aside, or expired, your approval chances more often than not will depend significantly on the size of your deposit.
Yes, securing a mortgage despite previous missed or late payments can be possible. The process can be made much easier with the help of a mortgage broker in Bristol.
In evaluating your eligibility for a bad credit mortgage in Bristol, lenders will consider certain aspects such as:
In the event of a history of missed payments, securing a mortgage with a bad credit score in Bristol might be more challenging. But remember, it’s usually not impossible, especially when you’re working with a mortgage broker in Bristol.
Yes, obtaining a mortgage with a default on your credit record in Bristol is possible. Although a default can complicate the mortgage process, many lenders offer products specifically designed for individuals with adverse credit histories.
Lenders will assess the details of your default, including its amount, how long ago it occurred, and whether it has been settled. Older and smaller defaults are often viewed more favourably than recent or significant ones.
There are plenty of mortgage options available for home buyers over the age of 50, even for those with bad credit. Whether you’re interested in acquiring a new property, remortgaging, capital raising, or navigating some more complex circumstances, our dedicated team of later-life experts is at your service seven days a week.
Options available for over 50s mortgages include the usual range of mortgages, retirement-interest-only mortgages, equity release mortgages, and typical interest-only mortgage products. As a bad credit mortgage applicant over 50, you may want to speak to our dedicated team to identify which of these options best suit your financial circumstances and future plans.
Our Customers Love Us
5.00 Rating5 Reviews
Adam
Worth their weight in gold. Helped navigate a complex mortgage enquiry, we would have fallen at the first hurdle if we were applying on our own. Excellent response times and always kept us informed. Was on the fence about going with a broker at all...
9 months ago
James
Malcolm and his team are so helpful, from the first call I had to discuss options all the way to getting my mortgage offer today. Any query I've had they answered immediately and offered to talk through my options, my case worker Lizzi was...
11 months ago
Jessica
Very responsive even in late evenings! Answered all of the questions that I had, explained the whole process through out and made the house buying process so much easier!
2 years ago
Anonymous
Helen was lovely to chat with, she booked me in for an appointment with a broker within minutes of me sending an email enquiry on a Sunday and explained everything about the process really well.
2 years ago
Eamonn
Spoke to several Mortgage Brokers about my situation and having talked to Malcolm, he fully understood my views and gave me his honest opinion. A very professional, friendly, and efficient service that enabled us to the best mortgage on the market.
4 years ago
Every customer can benefit from a free mortgage appointment with one of our mortgage advisors in Bristol.
During your appointment, your designated mortgage advisor in Bristol will request information concerning your earnings and outgoings to work out your borrowing capacity.
After your free mortgage appointment, your mortgage advisor in Bristol will try and find a mortgage deal that aligns perfectly with your unique financial circumstance.
If you want to proceed with the chosen mortgage product, it's time to start working on preparing your mortgage application.
Preparing and submitting your mortgage application is a crucial step towards acquiring your dream property. To bolster your application, you will need to provide supporting documents that support your income and affordability.
At this stage of your journey, you will be paired with a dedicated case manager. Their task is to guide you through every stage of the process, ensuring you're kept informed and updated.
Now that your application is ready, we can send it off to the mortgage lender. All that is left to do is to await their response!
Whilst we wait for the mortgage lender's response, we will evaluate your insurance options with you, making sure that you and your family are protected in a situation where you cannot make your mortgage payments.
Speaking to a mortgage advisor in Bristol is free! All you need to do is book a date and time online or give our team a call.
During your free mortgage appointment, we will take a look at your personal and financial situation to try and determine what sort of mortgage products you may be able to access.
Your mortgage advisor in Bristol is not just focused on delivering a mortgage solution that meets your current needs but also one which benefits your long term financial health.
Our team can access to thousands of mortgage products from a wide range of lenders. This extensive selection allows us to find the most suitable mortgage tailored to your unique financial situation and needs.
Whether you're dealing with bad credit, looking for a specific mortgage type or seeking the most competitive rates, trust us to help you secure a tailored product for you.
Given the uniqueness of every home buyer's financial circumstances and credit history, sometimes getting mortgage advice in Bristol is required.
Don't hesitate to contact us if you have a question. Our team would love to answer your mortgage questions and take the stress away from getting a mortgage with bad credit in Bristol.
We understand that your time is valuable, which is why our dedicated team is available 7 days a week. This flexibility ensures that you can get the support and guidance you need at a time that suits you best.
Whether you have questions, need advice, or want to discuss your mortgage options, our team is here to help whenever you need us. Trust in our commitment to being there for you every day of the week, making your mortgage journey as smooth and convenient as possible.
One of the most important steps when looking for a bad credit mortgage in Bristol is to seek help early from a specialised mortgage broker in Bristol.
A bad credit mortgage broker has the expertise and knowledge to navigate the complexities of the mortgage market, especially for individuals with adverse credit histories.
By consulting with a broker early in your mortgage journey, you can get tailored mortgage advice in Bristol, access to a wider range of products, and support in improving your credit profile.
Understanding your credit score is crucial when applying for a bad credit mortgage in Bristol. Your credit score reflects your financial history and plays a significant role in a lender’s decision-making process.
It is essential to know your credit score and be aware of any negative marks, such as late payments, defaults, or County Court Judgements (CCJs).
By understanding your credit score, you can take steps to improve it, such as paying down existing debts, avoiding new credit applications, and ensuring timely payments on current obligations. A better credit score can lead to more favourable mortgage terms and a wider range of product options.
Understanding how much you can borrow on a bad credit mortgage is essential for planning your home purchase in Bristol.
Lenders assess several factors, including your income, deposit size, credit history, and existing financial commitments, to determine your borrowing capacity. Typically, having a larger deposit can improve your borrowing potential and the terms offered.
It’s important to get a clear picture of your financial situation and consult with a specialised mortgage broker who can provide a realistic estimate of how much you can borrow.
This knowledge will help you set a budget and focus your property search on homes within your financial reach.
Obtaining a mortgage agreement in principle (AIP) is a crucial step when applying for a bad credit mortgage in Bristol.
An AIP gives you an estimate of how much you can borrow based on your financial situation and credit history, without a full credit check.
Having an AIP can strengthen your position as a serious buyer when negotiating with sellers and estate agents. It provides you with a clearer understanding of your budget and demonstrates to lenders that you are a committed applicant.
An AIP can also help identify any potential issues early in the process, giving you time to address them before submitting a full mortgage application.
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Bristolmoneyman.com & Bristolmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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Bristolmoneyman.com & Bristolmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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