So what are your options if you have a credit history of missed credit card and CCJs?
Contrary to popular myth you can still get a mortgage even if you have bad credit and, in some cases, even if you have been declared bankrupt in the past. However, finding a lender willing to take a risk is much easier if you use the services of a specialist whole of market mortgage broker.
Advantages of using a whole of market mortgage broker
The advantage of using a mortgage broker like us is you have access to more than 140 lenders and while not all of them are willing to consider applicants with bad credit, at least some will and they will even specialise in this sector.
The table below can be used as a rough guide to your chances of getting a mortgage with adverse credit. The table shows that getting a mortgage is possible in as little as 12 months following CCJs, defaults or repossessions.
|Up to 12 Months||1-2 Years||2-3 Years||3-4 Years||4+ Years|
|Reposessessions||no||possibly with a big deposit||possibly with a big deposit||yes||yes|