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Specialist Mortgage Brokers for Buy to Let Mortgages With Bad Credit

Are you looking for mortgage lenders, but have a low credit score? Our team of specialist mortgage advisors are here to show you what can be done.

Your home may be repossessed if you do not keep up repayments on your mortgage. When The Bank Says No is a mortgage broker, and not a lender.

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Bad Credit Mortgages

When your credit record isn’t the best and you’re struggling to find a lender, we can step in so you don’t miss out on your dream home.

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Buy-To-Let

Need help navigating buy-to-let mortgages? With our help we’ll make it easier than you think, even if you have bad credit.

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Looking to get Short-term mortgages for property investors? Our mortgage advisors are here to help you secure the right product for your needs.

Can I get a Buy to Let mortgage with bad credit?

YES! It can be more difficult to get a Buy to Let mortgage with bad credit, and you may have a more limited choice of lenders and mortgage deals. Many lenders are scared away by adverse credit, especially high street lenders. Credit is lowered with every missed payment or inability to meet financial dues.

Despite this, poor credit history doesn’t mean you can’t be approved for a Buy to Let mortgage, and there are many specialist lenders out there who specialise in bad credit mortgages. Your credit file is not the only thing to consider. The specialist lenders we can get you in contact with will take other things about your application into account, such as the projected rental income of your property, your current ability to make the mortgage payments, and things that you’ve done to try and fix your credit history.

Speak to a specialist mortgage advisor to find out more about how you can apply for a Buy to Let mortgage, find adverse credit lenders and invest in property, even when you have bad credit!

 

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Here to reassure.

Bad credit doesn’t scare us, and it doesn’t scare all mortgage lenders either! Achieving a Buy to Let mortgage is perfectly possible with a poor credit report, so stop worrying and start believing in what the future might hold! Whether you’re looking to start the mortgage process and are feeling stressed, or have already been declined by a high street bank, our team will guide you forwards and help you realise the options that are open to you – even with bad credit.

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We can support you and help you to make yourself as attractive to banks as possible, ready for your next application!

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Check your credit file.

In order for us to assess your credit history and suitability for different mortgage products, you will need to check your file.

Finding The Best Buy To Let Mortgage With Bad Credit Deal For Your Circumstances

If you’re looking for a Buy to Let mortgage but have bad credit, you don’t need to fear the worst from mortgage lenders! There is more to your mortgage application than your credit file. Our expert team of Buy to Let mortgage advisors specialise in working with clients with adverse credit scores, helping them strengthen the other areas of their potential mortgage. From arming you with all the information and advice you need to succeed to scouring the market for the most appropriate specialist lenders, we take the stress out of the Buy to Let mortgage process. With us, bad credit or a low credit score doesn’t have to put a dampener on your property investment plans, even if it does lead to you being ignored by high street lenders.

Can I get a Buy to Let mortgage with a CCJ?

CCJ stands for County Court Judgements and it occurs when someone takes legal action against you because you owe them money. Though this is a pitch-black mark on your credit file, a CCJ doesn’t necessarily disqualify you from getting approved for a Buy to Let mortgage with bad credit. Many other factors are taken into account when a lender reviews your application, including the number, severity, and recency of the bad credit incidents. Above all, with the right advice and support, CCJs and other forms of bad credit don’t have to put a stop to all your property investment dreams.Talk to our expert bad credit mortgage advisors today and let’s get your future plans back on track!

Turning Your Nightmares Into Dreams

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When you think you’ve hit that brick wall and have all but given up hope of finding mortgage finance, When the Bank Says No are here to turn your ‘No’ into a ‘Yes’. We have access to a range of specialist lenders who are willing to help those that the High Street banks just won’t touch. Get in touch today and see how we can turn your dreams into a reality.

What deposit do I need to get a Buy to Let mortgage with bad credit?

Most lenders will require a substantial deposit on an interest-only Buy to Let mortgage, even if your credit report is good. If you have bad credit, the deposit required may increase even further, and the deals available will reduce. Typically, a 25% deposit is required, creating a 75% Loan to Value (LTV). There are lenders out there who will stretch to an 80% LTV, though these are usually reserved for those who have previously rented out properties. Regardless, a Buy to Let mortgage with bad credit is possible, so speak to one of our mortgage brokers today.

If I have bad credit will the interest rates on my Buy to Let mortgage be expensive?

Inevitably, the deals available to you will decrease if you have an adverse credit history. This can mean you end up with a deal that has higher-than-average rates. The deals available will vary depending on your credit file, and how long ago your adverse credit began – so the effect could be minimal. With the right team on your side, it’s still possible to get a good deal, even if rates or deposits may be higher. Working with an expert team of bad credit mortgage advisors can ensure you get the most suitable, most competitive mortgage product for your credit file and other circumstances – call us today to start the search!

Frequently Asked Questions

Can I apply for a limited company Buy to Let mortgage if I have bad credit?

You can! The amount of lenders willing to offer you a Buy to Let mortgage may decrease, but mortgage approval is still possible for your limited company. There are many specialist lenders out there who market to people looking for a mortgage with bad credit, and a suitable deal is definitely within reach. It’s important to talk through the type and severity of your bad credit with an experienced mortgage advisor who will be able to identify the best way forwards for you and your company.

Mortgage Arrears may make it harder for you to get the buy-to-let mortgage you want through mainstream lenders, but there are things that can be done to remedy this. Whether it be finding ways to reverse your adverse credit, showing the success of your debt management plans, or our mortgage brokers finding specialist mortgage lenders that are not easily reached by the public – we will do right by you.

If mortgage arrears are responsible for your low credit score, you need good representation to ensure you get your mortgage dream. You can rely on When The Bank Says No.

The fact of the matter is, mortgages with bad credit are possible because your financial conduct is not the only thing considered in mortgage lending. Specialist lenders consider mainly based on the potential rental income of your buy-to-let property. If specialist lenders are convinced they will be able to see good rental income from your buy-to-let property, then you still have a solid chance of getting your buy-to-let mortgage so long as they believe they won’t be receiving missed payments.

Not to mention, consistent rental income will go toward improving your credit file. If our mortgage advisors find that your potential rental income is a strength, you can be sure that we will seek to highlight this when looking for specialist lenders to support your buy-to-let mortgage.

Your credit file suffers through missed payments that are scheduled. Paying your bills on time for a long time builds up and improves your credit file. Having a debt management plan in place to combat setbacks on your credit history is a great way to start improving your credit.

Another thing that is often missed when talking about credit history is old credit cards. Your credit history and its length can affect how good or bad it is. You should keep old credit cards open to boost your credit file. Taking out small loans that you can pay back without any risk of missed payments are another great way to boost your credit, and amend your credit history.

Although you can still get a mortgage with bad credit, it is undeniable that better credit means better deals. It’s best to start improving your credit rating early if you want good credit and better mortgage deals. 

Professional advice for Buy to Let with bad credit.

When the Bank Says No has helped property investors and individual buyers all over the country achieve the most suitable and competitive mortgage deal for them. Whatever the nature and severity of your adverse credit, you don’t need to worry about its impact on your chances of mortgage success. Our friendly team will work proactively to seek out appropriate alternative lenders to the high street banks – lenders more than willing to consider your application. To us, nothing is more important than helping you proceed full steam ahead with your future ambitions, whatever bad credit lies in your past.

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