Having debt doesn’t mean you can’t get a mortgage, it just means you might have fewer options available to you than someone without debt. It’s likely you’ll have to find a specialist lender, as many high street banks might consider you a high risk applicant. However, lenders are human too, and many will be able to look past your adverse credit history.
When the Bank Says No specialises in helping non-standard mortgage applicants achieve the finance they need to buy their home. We know that people don’t always fit into the boxes high street lenders want to put them in. We have a range of information available on our website for those applying for a mortgage with debt – current or historic – whether your credit file contains late payments, bankruptcy, IVAs, or you’re currently on a debt management plans. Having a low credit score or being a first time buyer with bad credit doesn’t mean a mortgage is impossible. Our friendly team is here to listen and understand your situation, then help you work out the best way forwards.