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We’re not a comparison engine. We have real people doing the hard work for you, taking away the stresses and worries surrounding bad credit mortgages.
Award Winning Bad Credit Mortgages
We’ve been recognised for our fantastic bad credit mortgage products but we’re constantly searching for ways to improve.
Our great relationships with our lenders means we have access to multiple bad credit of mortgage deals, including exclusives.
Free, No Obligation Quotes
No hidden charges here. You’ve nothing to lose by letting us find a bad credit mortgage deal that suits you.
Bad credit mortgages do exist and you can still qualify for a mortgage despite a poor credit history. You shouldn’t always be put off because of your past, our bad credit mortgages are tailored toward each individual circumstance.
Bad credit mortgages are much like a standard mortgage. The only real difference is that they assist people with who have perhaps been refused a mortgage in the past for a poor credit rating. Rates are adapted according to each individual circumstance and a deal is then packaged to suit.
A quick solution would be to pay off your debts by increasing the minimum payment or paying a lump sum. This demonstrates positive behaviour to prospective lenders. Consolidating your debts into one manageable monthly payment is another option. Again, showcasing that you’re in charge and on top of your finances, as long as you keep up with payments your rating should improve. This all contributes to building a better credit history through sensible actions.
Bad credit mortgages are designed for anybody with a previous poor credit history or those who have found it difficult to get approved for a mortgage in the past. Understandably, lenders will assess each individual separately before making a decision or approving a bad credit mortgage.
One of the best things about bad credit mortgages are the variety in which they come. Selecting from fixed rate, variable rate or discounted rates, there is a bad credit mortgage deal awaiting. Understandably, the interest rates are likely to be higher than average, because you may be deemed more of a risk to the lender. Like any mortgage, you still need a deposit with a bad credit mortgage. In this case, the bigger the better. As a guide, you should be aiming for around a 15% deposit, to make the transition a lot smoother.
Bad credit can collate through a variety of factors. You can even be judged to have bad credit just because you do not have a credit history. Other factors include a history of late or missed payments on bills or other mortgages, county court judgements (CCJs) or being declared bankrupt. Previously, such factors were seen as flaws and you would be refused a mortgage outright. Today, lenders are more open to assessing each circumstance before making their decision.
A bad credit mortgage is favourable to those who feel as though they deserve a chance to prove that they can sensibly manage their finances by keeping on top of monthly mortgage repayments, despite what may’ve happened in the past. It’s important to assess your own financial situation, and understand it, before applying. This way you’ll be prepared for the scrutiny that lay ahead.
The process of securing a bad credit mortgage can be disheartening. If you find yourself being rejected, there are ways you can improve your circumstances, and some lenders may look at this in a different light. Make sure you do your research beforehand, and ready yourself for higher interest rates and charges. Here at MortgageKey, our industry experts take the time to compare and search through thousands of bad credit mortgage deals from leading providers to present you with the options they believe are right for you and your property.
There are a range of factors you need to consider when thinking about a bad credit mortgage. One of the main ones being a deposit; without one, you’re going to struggle. Another is the financial assessment you will undergoe - make sure your paperwork and evidence is up to scratch. Also, like any mortgage, there are other factors such as: building insurance, removal costs, stamp duty and solicitor’s fees to consider. You should also set a budget aside for any decorating or furnishing you are planning, as well as other essentials you may need.
Firstly, there is no obligation, or fees, for our friendly advice or quotes. Secondly, you can benefit from our years of experience and lasting relationships with a comprehensive range of lenders. Finally, our expertise and knowledge with help you to familiarise with even the most complex mortgage procedures. Our friendly and attentive staff, offer a five-star service from inquest to completion.
Relieving you of the stress and complexities of bad credit mortgages is high on our agenda. We have the people in place to do the hard work for you. The constant changes in our industry mean we always have our finger on the pulse, keeping you are as up-to-date as possible so that you can make the right decision.
By keeping a close eye on the market, and through regular activity with our lenders, we are perfectly poised to identify which providers are best suited to your individual circumstances. MortgageKey firmly believe that each case is different. When it comes to bad credit mortgages, each situation is unique and should be assessed fairly.
Our mortgage advisors are available Mon-Fri from 9am to 8pm, giving you plenty of opportunity to seek a quick overview of what your mortgage deal could potentially look like.
A dedicated team of mortgage experts will answer your questions, queries and provide quality advice for your personal circumstances and the specific mortgage product suited to you.
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