Mortgages For Bad Credit

If you have recently been declined for a mortgage due to a poor credit rating, don’t worry. Here at Breakthrough Mortgage and Financial Services we have specialists with great amount of experience dealing in bad credit mortgages. As well as helping you source the best possible mortgage for you and your current situation we will also be on hand to provide information on how you can start to rectify your poor credit rating.

Having bad credit is one of many reasons you can be turned down for a mortgage loan. Figuring out the reason why you have been rejected is important. You can do this by asking the lenders directly or by checking your credit score. We recommend checking your credit rating on Experian.

Reasons For A Bad Credit Score

The most common reasons for having a bad credit rating include:

• Missing credit card payments
• Missing loan re-payments
• Failure to pay a previous loan
• Filed for bankruptcy in the last 7 Years
• Legal judgments against you such as child support payments
• Taking out “pay day loans”

This certainly does not limit the reasons why, these are just the most common. Having a team of experts on board allows you to receive the best possible mortgage advice in Monmouthshire. Our team are ready to work with you and the lenders to find the best possible mortgage for your current financial situation.

Bad Credit Mortgage Loans

The main difference between obtaining a normal mortgage and one aimed at those with bad credit is how much you will pay. These mortgages come with a higher cost attached and often the deposit required is higher than regular mortgages.

Being honest and upfront with us from the start will make this process a lot quicker. If you are fully aware you have bad credit tell us and we can then contact our lenders who we know specialise in these kind of mortgage loans. We are not here to judge you or your credit history. We are here to help you get the keys of your dream property as soon as possible!

Book Your Free Mortgage Consultation

Contact us today on 01873 831988 to arrange your free no obligation mortgage consultation. During this consultation we will be able to get an understanding of your requirements as well as your current financial situation. This will allow us to work quickly and effectively to get you the best mortgage deal possible.