When you apply for a mortgage the lender will use a credit reference agency to determine your credit worthiness. If the search of your credit record shows that you have had credit problems you will be given a poor rating, and may have problems obtaining a mortgage from high street lenders.
The good news is that there is an ever increasing range of lenders offering mortgages designed for people with credit problems. These mortgages allow borrows to move home or release equity from their property without waiting until their credit rating eventually returns to normal.
If you believe you might have bad credit it is a good idea to get a copy of your credit report to find out what you have had registered against you and when. This will help your adviser to identify the best deal for you, and how long you should take that deal, and when you should be able to transfer to a standard mortgage rate.
Dedman Financial Services' advisers have a wide range of experience in helping those current and previous credit problems obtain a new mortgage. And with access to the whole of the mortgage market, your adviser will be able to identify the best deal to suit your circumstances.
