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Yes, you can get a mortgage with bad credit in Liverpool. While it can be more challenging, several specialist lenders offer mortgages for those with a less-than-ideal credit history.
As an experienced mortgage broker in Liverpool, we have access to a wide network of both high street and specialist lenders.
Whether you’re employed or self employed, we work to find options that fit your situation and help you take the first step towards homeownership.
If you have bad credit in Liverpool, securing a mortgage will require careful planning and preparation. Here are some steps to improve your chances:
Several factors can contribute to a bad credit rating, including:
Each of these issues can impact your credit score differently, and lenders will look at the overall picture when considering your mortgage application. Book your free mortgage appointment today to learn more about your options for getting a mortgage with bad credit in Liverpool. With this knowledge, we can recommend the best course of action for you.
The deposit required for a bad credit mortgage is generally higher than for standard mortgages. Typically, you may need to put down between 15% to 25% of the property’s value. This larger deposit reduces the lender’s risk and can improve your chances of approval.
Mortgage options, including those for bad credit, are divided into different bands, each with an interest rate based on the level of risk for the lender. For instance, a 95% loan to value mortgage will have a higher interest rate compared to a 60% loan to value deal, as the lender is taking on a greater risk.
If you have bad credit and want to take out a 95% loan to value mortgage, in some cases it may not be possible. It all depends on how “bad” your credit is and whether the mortgage lender deems you as a reliable applicant who will be able to maintain the monthly mortgage payments.
Yes, getting a mortgage with bad credit is possible. Lenders will evaluate your application on various factors, including:
Age can add another layer of complexity to securing a mortgage with bad credit. However, there are lenders who consider applications from older borrowers. Factors like your income, employment status, and retirement plans will be taken into account. Specialist mortgage advisors in Liverpool can help you find lenders that offer products suitable for your age and financial situation.
Mortgage lenders have specific criteria for what types of credit issues they find acceptable. These include county court judgements (CCJs), debt management plans (DMPs), missed payments, defaults, Individual Voluntary Arrangements (IVAs), bankruptcy, poor or low credit scores, and high debts from personal loans and credit cards.
However, the severity of the credit issue, when it occurred, how much was involved, and the size of the deposit you have available will also play a role in determining what is acceptable to the lender for a bad credit mortgage.
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Anonymous
Very patient crew although we showered them with a lot of questions and frequently asked for updates
1 month ago
Ryan
Would highly recommend done all the leg work thank you Charlie/Jo and the ukmoneyman team
1 month ago
Nicholas
Really good and very helpful
2 months ago
Agnes
Johnathan went above and beyond to help me especially in the last few weeks of the process. I would highly recommend Liverpoolmoneyman-Mortgage Brokers, he definitely went the extra mile for me . Thank you Johnathan.
2 months ago
Marie
From start to completion a most positive experience. The initial advice from Dan and his courteous manner and patience throughout our dealings was exceptional. We were kept informed at every stage of proceedings by himself and Jonathan which...
2 months ago
Jake
Very impressed with the service from Jason! Always there to answer any questions and went above and beyond what we expected! Broke down all the details and technical information to a very easy to understand level, and made the process very simple....
3 months ago
Rebecca
Would highly recommend and would definitely use again! Chris was so helpful with all of our (many questions) and made us feel at ease through the whole process!
3 months ago
Zac
Matt and the team were super attentive throughout, guided me and provided great advice. Very easy to converse with and always ready to help
4 months ago
Paula
Daniel was very helpful. Explained things clearly and new mortgage sorted quickly.
4 months ago
Emma
Amazing. Was really nervous as a FTB but Wayne and Stacey were great and made the whole process really easy. Absolutely recommend.
5 months ago
Nerys
Highly recommend Liverpoolmoneyman , made the mortgage application a smooth process from beginning through to completion. Answered queries, phone calls and emails , and explained every step of the process. A special thank you to Dan who supported...
5 months ago
Nerys
Brilliant experience , highly recommend Liverpoolmoneyman if you are looking to remortgage or seeking advice with no applied pressure.A special thank you to Dan and Jonathan for making our mortgage application go through with ease , they supported...
5 months ago
Clare
Matt our Mortgage Advisor has been super helpful! Me and my partner are First Time Buyers and the help and support Matt and his Team have given us has been fantastic. They are also super responsive! Not only have we secured a mortgage...
6 months ago
Meg
Charlie and the team were fantastic at organising our mortgage, and so quick! He was on hand over WhatsApp to answer any questions we had and kept us updated all the way. Would highly recommend.
6 months ago
Rebekah
Everyone has been super helpful. Matt has been amazing with everything and has really helped us with everything we have needed.
6 months ago
Marc
Jason and the team have been so helpful through the process, answered all questions I had and kept me informed through the whole process. Highly recommend you won’t be disappointed.
7 months ago
Anonymous
When dealing with Liverpool Moneyman their agent Jonathan has been most helpful, polite and a pleasure to deal with.I would recommend them for any mortgage related transactions.
7 months ago
Dominic
Excellent service and communication throughout the whole processes
8 months ago
Vivienne
Absolutely excellent! Matt Collinson and Lizzi Roscoe were great! They helped us secure a mortgage in just a few days and were very supportive throughout the process! Can't recommend them enough
8 months ago
Benjamin
10/10 service. The team at moneyman, specifically Charlie and Stacey, provided great support and communication throughout the whole process. The team constantly kept in touch and were patient with my questions and circumstances. Also, the team...
8 months ago
We kick things off with a free mortgage appointment, allowing you to chat with one of our friendly mortgage advisors in Liverpool.
During this meeting, we’ll learn more about your financial situation and explore the mortgage options suited to your needs.
Based on the information you’ve provided, we’ll search the market to find the most suitable mortgage product for you.
With access to a wide range of options, we’ll ensure we find a deal that aligns perfectly with your financial goals.
Once you’ve chosen your mortgage, we’ll handle the entire application process, taking care of all the paperwork for you.
Our team will stay in touch with the lender and keep you updated on the progress of your application.
With your mortgage approved, we’ll work closely with your solicitor to finalise all the legalities.
On completion day, funds are transferred, and you’ll be ready to pick up the keys to your new home or enjoy the benefits of your remortgage.
In case you are facing any difficulties with your credit score, it would be beneficial for you to acquire an updated version of your credit report.
This will help you during your free mortgage appointment, as it will provide us with a better understanding of your financial situation, goals, and potential mortgage options that align with your current status.
We have a wide range of expert mortgage lenders on our panel. Each lender has their own set of criteria that we carefully match to our customers, to help you achieve your mortgage goals.
Our mortgage advisors in Liverpool have accumulated a wealth of knowledge and experience in the industry, enabling them to recommend the best mortgage deal for you based on your current situation.
We are dedicated to delivering exceptional bad credit mortgage advice in Liverpool to help you get a mortgage. We strive for you to move into your new property with a mortgage product that perfectly aligns with your current personal and financial situation.
We have earned a strong reputation for offering open and honest mortgage advice in Liverpool. We are committed to guiding you through every step of your mortgage journey.
Don’t hesitate to reach out and schedule a free initial appointment with one of our dedicated mortgage advisors in Liverpool, 7 days a week!
Yes, it is possible to obtain a debt consolidation mortgage even if you have bad credit. A debt consolidation mortgage allows you to combine your existing debts into your mortgage, potentially reducing your overall monthly payments and making your finances easier to manage. However, this can be a complex process, and lenders will carefully evaluate your financial situation.
Obtaining a mortgage with a County Court Judgement (CCJ) can be challenging, but it is possible. Lenders will look at several factors, such as:
Specialist lenders are more likely to consider applications from those with CCJs. Working with a mortgage advisor in Liverpool can help you find these lenders and navigate the application process effectively.
Can I Get a Mortgage with a Default?
Yes, you can get a mortgage with a default on your credit record. Lenders will assess:
To improve your prospects, focus on paying off any remaining debts and maintaining a positive credit record going forward. Specialist mortgage advisors can guide you to lenders who are more likely to consider your application.
Securing a mortgage with missed or late payments on your credit history can be difficult but not impossible. Lenders will consider:
Improving your credit score and saving for a larger deposit can also enhance your chances. Mortgage advisors in Liverpool with experience in dealing with bad credit can provide valuable assistance in finding suitable lenders.
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Liverpoolmoneyman.com & Liverpoolmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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Liverpoolmoneyman.com & Liverpoolmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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