Poor or Bad Credit Mortgages

What is a bad credit mortgage?

If you have had CCJs, bankruptcy, arrears or defaults in the past bad credit mortgages may still be available and we can advise you on the options available, and we won’t charge you anything for our service.

Most lenders take into account evidence of a poor credit history. This means that some will not be prepared to offer you a mortgage if you have a bad credit record. However, there are specialist lenders who will consider lending to you, even if you have examples of arrears, defaults or even bankruptcy in your past. You may have to pay a slightly higher rate than someone with good credit history, as the lender will see it as a larger risk to lend the money. With First Mortgage you can find the best possible deal and minimise the penalty for bad credit history.

Other types of mortgage…

You can find out more about other types of mortgage through First Mortgage. Even if you have a bad credit history, we may be able to help you arrange one of the following deals:

  • Debt consolidation mortgages – Help alleviate financial pressures by consolidating your debts
  • 90% mortgages – mortgage deals that lend up to 90% of the value of the property
  • Family shared ownership – Family members can take an equity loan in the property
  • Equity release mortgages – Use the value of your home to release cash in a lump sum, or instalments
  • Self-certification – A different way to arrange a mortgage if you are unable or unwilling to prove income
  • Shared equity mortgages – The lender receives a share of the equity and receives a percentage of the on-sale of the house
  • LIFT – Scottish Government scheme to help people on a low income afford a house
  • Right to Buy – An initiative that allows you to buy your council home at a discount price

Call us on 0345 603 1525 for a FREE consultation with one of our friendly and experienced team. We are happy to discuss your situation and help you choose the best option.