Struggling with Bad Credit? You Can Still Get a Mortgage
Getting a mortgage with adverse credit isn’t impossible – it just depends on the detail. Missed payments, defaults, CCJs or even more serious issues don’t automatically mean rejection. What matters is what happened, how recent it was and how things look now.
We help people who’ve had a rough patch with money and need a realistic route forward. Specialist adverse credit mortgage lenders look beyond your credit score and assess the full picture, which is where the right approach makes all the difference. Lenders will look closely at how recent the issue was, how severe it was and how your finances have been managed since.
In many cases, this does mean putting down a larger deposit, often starting from around 15% depending on the situation, but it opens up options that most people don’t realise are still available.
As a leading adverse credit mortgage broker, we can help you understand what’s possible and guide you through it, without any pressure or judgment – we’re proud to have helped many hundreds of clients just like you. It’s not about having a spotless credit record – it’s about finding a way forward. We’ll work through it, together.
What Counts As Adverse Credit For A Mortgage?
Adverse credit can mean different things depending on the situation, but lenders will usually be looking at things like:
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Missed or late payments
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Defaults
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County Court Judgments (CCJs)
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Debt management plans
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Individual Voluntary Arrangements (IVAs)
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Bankruptcy or previous repossession
Some of these are more serious than others, and the impact depends on how recent they were and how they’ve been handled since.
Not Sure Where You Stand?
If you’re unsure whether your credit history will affect your chances, we can talk it through and give you a clear, honest view of what’s possible – without any pressure.
We’ve helped many clients in similar situations find a way forward.
Adverse Credit Mortgages Available For:
- Defaults / late repayments /missed repayments
- County Court Judgment (CCJ) and Individual Voluntary Agreement (IVA) cases
- Discharged bankruptcy cases
- Debt management plans (DMPs)
- Repossession/ liquidation cases
- Absence from electoral rolls (or no credit history)
- Running out of credit on your cards/credit lines
- Using payday loans and other personal loan products
- Other poor credit cases
If you’re wondering how to get a mortgage with bad credit, you probably already know that it’s not exactly an easy task. Lenders often tend to turn poor credit mortgage applications down as a matter of policy, leaving applicants with no feasible credit options. No credit means that your commercial / investment ventures become hamstrung, making it almost impossible to break out of the rut. This is exactly why adverse credit mortgages are so important – they give you a fair shot at setting things right and that’s why we love them so much!
Poor credit is usually an outcome of a combination of events. The most common among these are CCJs, IVAs, DMPs, bankruptcy proceedings, liquidation proceedings, repossessions and defaults. At Commercial Finance Network, we have curated a pool of lenders who specialise in assessing the merits of such cases, improving your chance of getting approved for an adverse credit mortgage.
As the UK’s leading whole-of-market mortgage broker, we make getting a mortgage with adverse credit a stress-free reality for clients with all types of bad credit throughout the UK.
Key Features of Our Adverse Credit Mortgage Services
- Specialist adverse credit mortgage broker
- Bad credit mortgages customised to fit your requirements
- We work with all adverse credit mortgage lenders to give widest range of options
- Our lenders service the whole range of bad credit cases
- Quick, hassle-free application (takes no longer than a few minutes)
- A large share of adverse credit mortgages we broker belong to borrowers who have been routinely denied credit elsewhere
- No upfront fees
- No hidden fees
- Decision within 24 hours
- Round-the-clock Case Updates
What is a Bad Credit Mortgage?
Bad credit mortgages are also known as subprime mortgages or adverse credit mortgages. These mortgages, as the name suggests, are geared towards borrowers who have poor credit.
If you’ve ever applied for a loan, you know how important your credit history is. Not many standard residential mortgage lenders are willing to work with borrowers who have bad credit, and the ones who are have to hedge the risk via astronomically high interest rates. Moreover, a rejected mortgage application, in all likelihood, can further deteriorate the credit score.
At any rate, it’s the borrower who has to be at the receiving end of all these issues.
Adverse credit mortgages aim to solve this problem by granting borrowers a fair chance, at the lenders’ discretion. If you’re struggling with bad credit and want to raise funds (preferably for commercial/business purposes), such mortgages can help you turn the corner.
As a whole-of-market broker, we have direct access to the wide range of adverse mortgage lenders – not just the big names. That means we can match you with specialist adverse lenders who consider your full financial picture, not just your credit score. These lenders understand bad credit circumstances so much better than standard mortgage lenders, so they are much better placed to offer you an adverse credit home loan.
Adverse Credit Mortgages vs Regular Mortgages
A regular mortgage is a straightforward transaction based on your credit rating and history of repayments. As long as you bring on board a good credit score, lenders will be happy to lend money to you at market interest rates.
This, however, changes when you have bad credit. An adverse credit lender willing to work with you has to bear higher risk, and that reflects in the relatively higher interest rates they offer you. Similarly, you will need to earmark a significant percentage of the mortgage value as initial deposit (usually 10-25%).
The lenders’ decision will take into account multiple factors such as your overall financial position and any potential extenuating circumstances.
In summary:
- Adverse credit mortgages feature higher interest rates.
- You may be required to put up a higher percentage of loan/property value as deposit.
How To Apply For A Bad Credit Mortgage?
Applying for a bad credit mortgage used to be an extremely tedious process not too long ago. It would typically involve multiple in-person meetings and lengthy follow-ups. Thankfully, Commercial Finance Network – a leading whole of market broker in the UK – has changed it all.
All you need to do is follow the simple steps and we will get back to with a decision within 24 hours.
Step 1 – Call us on 03303 112 646 or complete our short Online Form
Step 2 – Speak with one of our specialist Adverse Mortgage Advisors
Step 3 – Get a free quote and Decision in Principle
Why Commercial Finance Network?
We know and understand the frustration you have to go through in a bad credit situation. Much the reason why, we have created a pool of specialist adverse credit mortgage lenders who are willing to judge your application with an open mind and appetite to lend.
“At Commercial Finance Network, our aim is not just to connect you with specialist adverse mortgage lenders, but also to make sure that you get the fastest, cheapest and best possible deal.”
Here’s why our bad credit mortgage broking service is counted among the best in the UK:
- Being truly independent, we research the whole-of-market lenders to find you the best lenders suited to your exacting requirements and needs.
- We work with all the specialist lenders so can be certain to find you the best possible deal.
- We work with lenders to help you get a fully customised bad credit mortgage with some of the lowest interest rates going around. In the long run, it can make a huge difference to your finances.
- The application process is hassle-free and quick. You’ll get the decision within 24 hours – our promise!
- View the very latest status of your application, 24x7x365 using our unique and industry leading “WiiN” customer portal.
FAQs – Adverse Credit Mortgage
Can I get a mortgage with bad credit?
Yes, absolutely!
While the high street lenders might turn you away, there are specialist adverse credit mortgage lenders who specialise in this area and are willing to lend to applicants with poor credit histories.
If you have bad credit, then always speak with an adverse credit mortgage broker who will be best placed to understand your current situation, provide free advice and even find the best adverse mortgage lenders for your particular circumstances.
What is an adverse credit mortgage?
This is a specialist type of mortgage designed for people with low credit scores, defaults, CCJs, or a history of missed payments.
These mortgages are made available via specialist adverse credit mortgage lenders – they focus on your current financial situation, not just your past.
How bad does my credit have to be to need an adverse mortgage?
There is no definitive answer for this, since it depends on so many different factors.
However, as a rule of thumb – if you’ve been refused a standard mortgage due to issues like defaults, bankruptcy, or IVAs, you’re likely in the territory where an adverse mortgage would be needed.
If you’ve been refused a mortgage already – always work with experienced adverse mortgage advisors so they can find you a solution.
Will I have to pay a higher interest rate?
Yes, the rates are usually higher for an adverse credit home loan than standard mortgages, since the lenders are taking on more risk than normal.
However, when your financial situation improves, you may be able to remortgage later on to a standard mortgage with a better interest rate – so think of it as just a short-term stepping stone.
Do adverse mortgage lenders look at more than just my credit score?
Yes, these lenders are specialists in working with clients with bad credit and they invariably take a common-sense approach to lending.
They will look at other crucial factors such your income, current financial stability and the reasons behind your credit issues.
Do I need a big deposit for an adverse credit home loan?
Typically, yes. A larger deposit of around 10 – 30% is typically needed for these mortgages.
The bigger the deposit helps reduce risk for the lender and the bigger your deposit, the higher your chances of approval.
Will applying hurt my credit even more?
Not if done properly and you work with a mortgage broker.
Brokers use soft credit checks in the early stages to avoid unnecessary damage to your score. Only once we’re really confident the lender will accept your application is a hard search completed by the lender.
Can I get a buy-to-let mortgage with bad credit?
Yes, several lenders are available who offer adverse credit buy-to-let mortgages.
The rental income from the BTL property and your overall credit profile will play a big role.
Get In Touch With Us – And We’ll Do The Rest.
Bad credit can pose all sorts of problems to your finances and prove very expensive if you don’t have the right team of experts on your side.
Contact us today and one of our adverse mortgage advisors will call you back right away!