Life serves up lots of surprises and most people will experience some sort of event that impacts on them financially during their lives. Most lenders now appreciate that this should not be a barrier to home ownership.
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It is highly recommended to regularly review your credit report as this will often be the first time that you notice a blip. This also allows you to promptly challenge anything on your report that you believe to be a mistake.
Whilst there are lots of options for mortgages with poor credit history, you will be restricted to a smaller pool of lenders (and higher rates). For this reason, if you are thinking about buying, it is beneficial to have your credit score fighting fit before an application.
Many approach a house purchase without any previous credit agreements which can make it harder for lenders to assess creditworthiness. This may also be because you have not lived in the UK for long. In either case, this is not a barrier to getting a mortgage.
From a simple missed payment on a credit card due to a direct debit change through to bankruptcy, it would be easy to consider yourself “unmortgageable”. However, with access to several lenders who specialise in this area, we are best-placed to advise on the optimal route towards home ownership.
If you have a history of missed payments, County Court Judgements, IVA, bankruptcy, defaults or Debt Management Plans and want to get a mortgage, click here to start the process.
LEGAL INFORMATION
Latitude Finance Ltd is an Appointed Representative of BrokerSync Ltd, which is authorised and regulated by the Financial Conduct Authority (1031981).
There may be a fee for Mortgage Advice. The precise amount will depend upon your circumstances and will be agreed upon following your initial meeting.
Equity Release, Investments, Pensions, Wills, Trusts, PMI and Estate Planning will be referred to our authorised third-party providers. Latitude Finance Ltd and BrokerSync Ltd are not responsible for any advice received from the third-party providers.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Conveyancing, Wills, and some forms of Buy-to-let Mortgages and Commercial Mortgages are not regulated by the Financial Conduct Authority.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or other debt secured against it.
The guidance and/or advice contained within this website is subject to the UK regulatory regime and is, therefore, primarily targeted at consumers based in the UK.
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