Ever heard the phrase ‘Time heals’. Well it’s certainly true in the world of mortgages. Adverse credit history is usually defined by defaults and County Court Judgements (CCJ) for debts. If you have either of these then the mortgage market will be opening up to you more and more over time. We will potentially be able to help after as soon as 6 months have passed since your Default or CCJ, the market will continue to open up every 6 to 12 months that pass, with rates improving each time.
It is possible to get a mortgage with poor credit history. It’s important to make sure that any accounts that are in arrears are up to date before you apply. The first thing a mortgage broker will ask for is a copy of your credit report, it’s really important that your broker knows everything in order to be able to make their recommendation.