Getting turned down everywhere due to poor credit? Our Adverse Credit Mortgage broking services may provide you a way out!
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 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 important – they give you a fair shot at setting things right.
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.
Key Features Of Our Adverse Credit Mortgage Services
- Bad credit mortgages customised to fit your requirements
- 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 (Adverse 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 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.
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. A 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 15-25%).
The decision made by lenders will take into account multiple factors such as your overall financial position and extenuating circumstances (if any).
- Adverse credit mortgages feature higher interest rates.
- You may be required to put up a higher percentage of loan/property value as deposit.
Are All Bad Credit Cases Eligible For Adverse Credit Mortgages?
At Commercial Finance Network, we cover almost every common case that leads to poor credit. Of course, it’s ultimately the lenders who decide the merits of each case. In the meantime, you can take some easy to steps that will lead to improvement in your credit rating, thereby increasing your chance of getting a mortgage.
Please refer to the top of this page for the common bad credit scenarios that our adverse credit mortgages cover.
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 Adverse Credit Mortgage Specialists
Step 3 – Get a decision
Why Commercial Finance Network?
At Commercial Finance Network, 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.
“At Commercial Finance Network, our aim is not just to connect you with lenders, but also to make sure that you get the fastest, cheapest and best possible deal.”
Here’s why our bad credit mortgage broking services are 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.
- Our panel of specialist lenders consists of experienced names from across the UK.
- 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.
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.
Our Adverse Credit Mortgage Reviews
Amazing customer service from start to finish! As someone who had past adverse credit issues I thought we had no chance of being able to get a new mortgage until our credit files were repaired fully.
After speaking to Iain he matched us with a mortgage lender and after a quick 3 weeks we had our mortgage offer!!! So glad I got in touch with them and they put us with a lender who took a common sense approach to our situation.
Their support team stayed in touch with me throughout the process. Deal completed swiftly as well.
As expected, another wonderful turnaround
I have had the pleasure to worth with Commercial Finance Service last year and I recently gave their new online platform a fresh go. As expected, top results. I can’t think highly enough of their pool of lenders.
Just about perfect
Helpful team and fluent procedure.