As mortgage advisers we get asked a lot if you can get a mortgage if you have bad credit.
Often we are contacted after someone has spoken to their bank and been told that they can’t get a mortgage.
The key things to be successful in getting a mortgage if you have bad credit is to identify and explain the reasons for the credit issues, give the lender comfort that the issues will not repeat and to select the best lender for the given situation. Some of our mortgage advisers specialise in these types of lending scenarios – arranging bad credit mortgages.
Often the major banks will not provide mortgages to people with bad credit, but there are options with some banks and non-bank lenders.
You need to be aware that these are specialist loans and there are often extra costs and higher interest rates.
One of our team of mortgage advisers can do a free assessment and advise on this for you.
