We know which lenders might give you the green light
We work closely with the major providers to bring you the right deal. Get access to well-trusted mortgage providers without the hard work. Plus, we work with over 80 lenders to ensure you find the most suitable option for your needs.
Accord Mortgages
Pepper Money
Barclays
Principality Intermediaries
Bluestone Mortgages
Buckinghamshire Building Society
Buy-to-Let by Foundation
Kensington
Metro Bank
Newcastle for Intermediaries
The Nottingham Building Society
Mansfield Building Society
Your home may be repossessed if you do not keep up repayments on your mortgage.
Bad credit mortgages - what you need to know
Many lenders now offer products for customers with a low credit score or an bad credit history. If you are having difficulty with your current lender then it makes sense to look at the whole of the market.
Missed or late payments on your commitments can impact your credit score which may make it more difficult to find the right mortgage deal. We can also advise you on how to repay any CCJ’s or IVA’s which may be able to help your credit profile.
Mortgage Wise work with many lenders who are not available on the high street. Save yourself time today by speaking with one of our team who will find the right deal for you.
What our customer say
Discover what our customers have to say about their experiences with us. Hear from those we've assisted in making their property and financial dreams a reality, and see how our commitment and expertise have made a difference.
We are with you every step of the way
Compare the market
Call us or send an enquiry to get
the ball rolling.
Complete your application
Our experts will handle all of the admin.
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We will chase everything for you and
keep you updated until completion.
Lender Requirements for Bad Credit Mortgages
Understanding lender requirements for bad credit mortgages is crucial. Lenders consider your credit score, income, employment history, and debt-to-income ratio. Demonstrating stable employment and income can help offset a lower credit score.
A larger down payment is often required for bad credit mortgages. While typical down payments range from 3% to 20%, those with bad credit might need to put down more to reduce the lender’s risk.
Be prepared to explain your credit history. Lenders will want to understand the reasons behind your bad credit and see proof of recent financial stability. A clear, honest explanation can make lenders more willing to work with you.
Call us on 0333 207 0522 or arrange a call back below.
We found Mortgage Wise online after trying unsuccessfully to have our
Lender remortgage our property. MW were helpful and managed to find
a Lender who had a mortgage package which could meet our specific niche
requirements. This Lender then made requests for information which, in our
opinion, were not relative to the mortgage they were offering and we objected
to providing that information to them so after 3 months of effort we were
forced to ask MW to find an alternative way of securing the remortgage of
our property. This took another 2 months to finalise another Lender and a
further 4 months to complete the exhaustive process. Throughout this process
MW kept us updated as to the status of the application. The final guidance
from MW, after the application had been accepted by the new Lender could
have been better, but overall it was acceptable.
Duncan H.
Remortgaging our property
Does my credit score affect my mortgage?
To help a lender assess your application, it is usual that they will use a form of scoring system to decide whether to accept your application. Speak to an adviser today to discuss your options.
How can I look to improve my credit history?
There are a number of ways that you can look to improve your credit score. Request a call back from an adviser today to discuss your options.
Can I get a mortgage with a CCJ?
Disclosing any issues to a lender does not automatically mean the application will be declined – indeed many lenders have provision for this type of business.
FAQs
Here, we answer the most common questions about our financial services to help you make informed decisions. If you need more detailed information, our expert team is always available to assist.
Remortgaging involves switching your existing mortgage to a new lender or deal without moving home. It typically aims to get a better interest rate, reduce monthly payments, or release equity. The process involves applying for a new mortgage and using it to pay off your existing one.
The best time to remortgage is usually when your current mortgage deal is about to end, typically before the end of a fixed or discounted rate period to avoid reverting to the lender's higher standard variable rate (SVR). It’s also beneficial to remortgage if interest rates have dropped, your property value has significantly increased, or you need to borrow additional funds.
Remortgaging can involve various fees, such as early repayment charges (ERC) on your existing mortgage, valuation fees, legal fees, arrangement fees for the new mortgage, and any broker fees if you use a mortgage broker. It’s important to consider these costs when calculating the overall benefit of remortgaging.
The amount you can borrow depends on factors like your property's value, your income, existing debts, and the lender's criteria. Generally, lenders will offer up to a certain percentage of your property’s value, known as the loan-to-value ratio (LTV), and will assess your ability to repay based on affordability checks.
Benefits of remortgaging include lower interest rates, reduced monthly payments, releasing equity for other financial needs, and switching to a more suitable mortgage product. However, risks include incurring fees that outweigh the savings, extending the mortgage term which could increase the total amount paid, and the potential for higher interest rates if you don’t lock in a good deal.
Find your home improvements remortgage solution
Getting a mortgage can be difficult when you have a bad credit rating, CCJs, payment defaults, or bankruptcy on your record– but we may be able to help. Get a quote or request a callback by clicking on the below button.
Speak to the experts
Mortgage Wise team is on hand to speak to you today. Whether you’re looking for a face-to-face appointment or a quick chat on the telephone, we are here to provide the mortgage broker advice you need for your next mortgage.
Let us handle everything
From application to liaising with lenders, solicitors and estate agents - we handle it all.
Our dedicated processing team to ensure your application is handled smoothly until the day you complete.
We provide a lifetime service
We’ve built our reputation on long lasting relationships with our clients. You will recieve regular contact from us beyond your initial application. When it’s time to remortgage, we will be in touch to discuss your options. Let Mortgage Wise take the hassle out of managing your mortgage.
Bad credit mortgage advice
We’ve built our reputation on long lasting relationships with our clients. You will recieve regular contact from us beyond your initial application.
When it’s time to remortgage, we will be in touch to discuss your options. Let Mortgage Wise take the hassle out of managing your mortgage.
*Our lines are open Monday to Friday, between 9:00 am and 7:30 pm.
Let us help you manage and overcome Defaults or County Court Judgments effectively
Achieve financial freedom with our personalized Debt Management Plans, tailored to your needs.
Take steps to improve your low credit score and secure a better financial future.
Our guides
In our our Guides section, you’ll find valuable resources to help you with various financial and property-related decisions. Whether you’re buying your first home, managing bad credit, exploring buy-to-let opportunities, or consolidating debt, we have the information you need. Our guides also cover topics like home improvements, interest-only mortgages, and remortgaging, providing you with the knowledge to make informed and confident choices.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage. Some buy to let mortgages are not regulated by the Financial Conduct Authority.
