How much deposit do I need for a mortgage in Bristol with bad credit?

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.

Can I get a debt consolidation mortgage in Bristol with bad credit?

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 most suitable options available for your situation.

Can I get a mortgage in Bristol with bad credit?

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 initial 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.

Can I get a mortgage in Bristol with a county court judgement (CCJ)?

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.

Can I get a mortgage in Bristol with missed/late payments?

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: Payment type: Was the missed payment on a mobile phone bill or a mortgage payment? Payment amount: Was the missed payment a mere £10 or a substantial £1,000? Timestamp of missed payment: Did the missed payment occur a month ago or was it five years ago? Payment status: Have you since settled the payment or is it still due? Reasons for late payment: Was the missed payment due to oversight, promptly rectified or payment was simply unaffordable? 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.

Can I get a mortgage with a default 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.

Can I get a mortgage with bad credit in Bristol if I'm over 50?

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.

Bad Credit Mortgage Advice in Bristol

Getting a mortgage with bad credit in Bristol?

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.

Options for buyers with poor credit.
Options for remortgaging with bad credit.
Age 60+ mortgage options in Bristol
Self employed bad credit mortgages.
In a complex situation?

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.

How to get a mortgage with bad credit in Bristol?

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.

Types of bad credit mortgages in Bristol

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.

Speak to an Advisor

Important information

Your home may be repossessed if you do not keep up repayments on your mortgage.

There may be a fee for mortgage advice. The fee is up to 1% but a typical fee is £495.

Popular Mortgage FAQs in Bristol

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Anonymous

Excellent service, kept up to date and was advised every step throughout the process.

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Anonymous

Dan and Jonathan were both brilliant and kept me informed all the way after helping me find the product that was suitable for me. I wouldn't hesitate to use Moneyman again. We communicated by email and telephone.

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A bit of background - I was coming to the end of an interest only mortgage so sought advice on my options with the UKMoneyman and was introduced to Dan who was very helpful and went through my options of the different products and the pros and cons...

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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...

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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...

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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!

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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.

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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 most suitable mortgage on the...

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Our Simple 4-Step Process

Free Initial Mortgage Appointment

Every customer can benefit from a free initial 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.

1000s of Mortgages

After your free initial 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 Your 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.

Submit Your Application

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.

Reasons to Choose Us For Mortgage Advice in Bristol

Free Initial Appointment in Bristol

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 initial 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.

Search 1000s of Deals

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.

Our Service

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.

7 Days a Week

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.