#how to get a mortgage with bad credit
Can I get a mortgage with bad credit?
Mortgages can be a bit of a minefield, and many borrowers with limited experience may not be sure how to get a mortgage with bad credit. Google searches for ‘how can I get a mortgage with bad credit’ often don’t produce any helpful or specific information. Results are often littered with best buy tables for grade A credit scores displaying mortgages that you probably won’t qualify for, and other products that may not apply to you, not to mention the sites selling PPI claim help, and loads of other spam.
Here, we want to make it clear what mortgages you’d have a chance with, give you an idea of cost so you know its within budget or not, and show you the steps to help show how to get a bad credit mortgage.
So, in this article we cover:
- The process for arranging a bad credit mortgage
- Which types of credit issues are acceptable
- Bad credit mortgage costs
- Adverse credit mortgage FAQ
Process for arranging a bad credit mortgage:
To apply for a mortgage with bad credit, and make sure you get accepted for the best deal you can get, there’s a few things to keep in mind along the way.
1) Get your credit files
This has to be step 1. How do you expect to know the best lender for you if you don’t know how severe your credit issues are? The strange thing is, different credit firms and banks report their information back to different reference agencies, and what’s showing with one may not show with another. So, with potential mortgage lenders using the 3 main credit reference agencies Experian, Equifax, and Call credit, if you had just your Experian credit file which says you’re clean credit, but applied to a lender that uses Equifax, you may find yourself being declined and wondering why.
For this exact reason, because the 3 files can differ massively in terms of what is actually registered, it’s vital to have a copy of each.
NOTE: You will NOT be penalised or scored any differently for searching your own credit file with these agencies, credit score is only affected by applications for credit. AND – ITS FREE! Sign up for the free trials below and order your reports now.