Bad Credit Mortgages for people in Cheshire
Getting a mortgage can be difficult not only due to increased house prices but also the tighter criteria imposed by lenders since the 2008 market crash. No matter what size of deposit you have, or the nature of the property you wish to buy, if you have a poor credit rating, the number of lenders willing to grant you a mortgage is limited. Aspire Financial Services can help you with bad credit mortgages.
Having a mortgage application rejected will worsen your overall credit score. Therefore, if you feel you may struggle to obtain a mortgage due to issues with your credit history, you should seek advice from a mortgage broker before making an application.
Among the factors that contribute to your credit score, some of the most common reasons people have poor credit ratings include:
- Missing a loan, credit card or mortgage payment
- Defaults and CCJs
- Having an ongoing loan with a payday loan provider
- Being declared bankrupt or entering into an individual voluntary arrangement (IVA)
It’s also worth noting that if you have never taken out credit, you might find you haven’t yet built up a record of credit, so your score could be low.
There are a number of tools online that can be used to measure your credit score, but the nest one to look up before applying for a mortgage is ChekMyFile. . Further information about this can be located on our FAQs.
Looking after yourself
At Aspire Financial Services we treat every client as an individual and aim to make it easier for those with adverse credit to secure a mortgage, whether you’re a first-time buyer or a homeowner looking to remortgage or move.
We have good relationships with lenders who are more understanding of adverse credit and we will start with financial advice to explain which lenders will work with you at this time.
If you have adverse credit and are struggling to secure a mortgage, we can help.
Book a free 30-minute consultation and start your journey to solving your mortgage needs.