At Get Me My Mortgage we work with a network of high quality brokers that specialise in different areas in the mortgage market. All of our bad credit mortgage brokers have years of experience dealing with clients with adverse credit issues. They work closely with mortgage companies and lenders that specialise in arranging mortgage for clients with a poor credit history.
Our bad credit mortgage brokers can help clients with the following issues
Maybe you have just started your journey of getting a mortgage or maybe you have been turned down elsewhere and are looking for a mortgage broker that can help you. No matter the reason we will try our best to help you get the mortgage that you need. If we are still unable to find a lender for you we will advise you on the best possible route to help you secure a mortgage in the near future.
Best mortgage broker for bad credit
There is no doubt that if you look on any mortgage broker site they will advise they are the best and will be able to secure you the best deal. There are however a few indicators that will help you to know if the mortgage broker is right for you. Something to remember is that bad credit mortgages are a specialist area, if your broker doesn’t have the right knowledge and connections with specialist lender you could end up being declined and each hard search on your credit report will affect your credit score.
Whole of Market
This means that the broker is not tied to any specific bank or network and can check all of the lenders and deals available on the market. If a broker is not searching the whole of the market they may not be able to find you the best deal or any deal at all if you have adverse credit.
Bad credit mortgages can be complex and take a longer time to sort out than a standard mortgage, this means that most brokers dealing with specialist lending will charge a fee for their work. Some brokers charge a fee of up to 3% of the mortgage. This is a high fee. The brokers we work with typically charge a fee of £499 depending on the complexity of the mortgage. There are also some brokers that are fee free who deal with bad credit mortgages.
Experience in Adverse Credit
This is essential. Many of the large brokers will take on new advisor’s and train them, these kind of companies do not have the experience to deal with all of the complexities of bad credit mortgages. You don’t want your complex mortgage being handled essentially by someone in training
Mortgage advice for bad credit
One of the most important bits of advice is don’t pay any upfront fees to brokers that have not secured you a deal. If you pay a non-refundable fee and the broker cannot find you a deal then you lose out. There are brokers out there that operate this way, preying on people with bad credit and hoping for a mortgage. Our brokers won’t charge you upfront and you will only pay a broker fee if you secure a mortgage.
If you have been searching around like many of our customers and not had any success, maybe you went direct to a high street bank and were turned down, don’t worry. It is still possible for you to secure a mortgage even if you have been turned down by a lender. When you speak with one of our team they will use your information to place you with a suitable broker that has the expertise to help you secure a mortgage. They won’t just try and find you any mortgage, they will also get you the best rate they can whether it be through a high street bank or a specialist lender that they have relationship’s with.
Bad Credit Mortgage Brokers in UK
In today’s day and age it is much easier to give advice nationwide. We have advisers all over the UK helping our customers secure the mortgage they need. If a specialist broker is out of areas this is no problem, your broker will be able to handle your full application over the phone. From your initial call your broker will take details and analyse your credit report. Once they have all of the information they need they will start searching the whole market to find deals for your circumstances.
A lot of brokers out there may fob you off or tell you that you won’t be able to get a mortgage. If you have been speaking with a general mortgage advisor and not a bad credit specialist, it may be due to the complexities and additional work required for these kinds of mortgages. Main stream brokers are not used to dealing with bad credit as the majority of the banks that they work with are likely to reject applications with adverse credit events. This is why it important to speak with a specialist that handles these kind of mortgages on a daily basis.
We can help
If you have been looking for a bad credit specialist you have come to the right place, fill in one of our contact forms or give us a call on 0800 368 8879 to speak with a specialist advisor today.