An bad credit mortgage, sometimes called an adverse credit mortgage, is a type of loan specifically designed for individuals with a history of financial issues, such as missed payments, defaults, or even bankruptcy. These mortgages cater to borrowers who may not qualify for standard loans due to their credit history. Specialised lenders assess each case individually and may offer mortgages at higher interest rates or require larger deposits.

Adverse credit information typically stays on your credit report for six years. This includes missed payments, defaults, County Court Judgments (CCJs), and bankruptcies. While these marks impact your credit score, they will gradually have less influence over time, especially if you work on improving your financial habits.

Yes, it is possible to get a mortgage with a poor credit score. While mainstream lenders may be hesitant, some may take minor defaults and then there are specialist lenders who are more flexible and willing to work with individuals with poor credit. We can help you explore these options, find the right lender, and negotiate the best possible terms based on your current financial situation.

In many cases, yes. Lenders often ask for a larger deposit, typically around 15% to 30%, to offset the risk associated with bad credit. However, this can vary depending on the lender and your specific credit history.

Interest rates for bad credit mortgages are usually higher than standard mortgages, reflecting the increased risk for lenders. We can help you compare different lenders and available mortgages and negotiate to secure the most competitive rate available for your circumstances.

Yes, remortgaging with bad credit is possible, though the options may be more limited. You might need to work with specialist lenders who cater to borrowers with poor credit, but these lenders will often consider each case individually. However, you should be prepared that they may offer mortgages at higher interest rates or require larger deposits.

Several types of credit issues can affect your mortgage application, including missed payments, defaults, County Court Judgments (CCJs), Individual Voluntary Arrangements (IVAs), and bankruptcies. The severity and recency of these issues will influence your eligibility. However, many specialist lenders consider your current financial stability and ability to make repayments, not just your credit history.

Improving your credit score by paying off outstanding debts, avoiding missed payments, and demonstrating responsible financial management can improve your chances. Saving for a larger deposit can also make you a more attractive candidate to the right lenders.

While it may be challenging to secure a mortgage immediately after bankruptcy, some lenders may consider your application once you’ve been discharged for at least 12 months. The longer it has been since your bankruptcy, the better your chances of finding a lender, especially if you've worked on improving your credit score during that time.

Yes, it’s possible to secure a buy-to-let mortgage even if you have adverse credit, though the criteria may be stricter. Lenders will focus heavily on the potential rental income from the property, along with your credit history and deposit amount.