Published 14 March 2013 · Last reviewed 1 May 2026
New adverse credit funding line available from Niche Advice for people with Bad Credit.
The great news is we have a lender who has a flexible underwriting approach to bad credit mortgages and says YES
Finding a mortgage when you’ve had difficulties in the past including missed payments which have turned into defaults or CCJ is very difficult.
The last few years have been financially testing for a large number of us so it is therefore unsurprising to hear constant sad tales in the course of the day as a Mortgage Advisor who specialises in complex mortgages.
Even the previously creditworthy have found themselves in the unenviable position of having to choose which bills to honor and which ones to let slip. What might have appeared rationale and prudent at the time can leave you with an uphill task once you are back on the front foot and looking to move home.
In this article I will provide an insight into the brand new funding line that we have to available to help applicants with credit issues when it comes to obtaining a mortgage.
ACCEPTABLE ADVERSE CREDIT FOR MORTGAGES
Missed Payments on Unsecured borrowing
(Items such as personal loans, credit cards, mobile phones, catalogues etc.)
• Maximum of status 2 on your credit file in the last 2 years.
• Unlimited missed 2 years ago.
Missed Payments on Secured borrowing
(Items such as residential mortgages, buy-to-let mortgages, further advances and secured loans)
• None missed in the last 2 years.
• Unlimited missed 2 years ago (must be up-to-date at application).
Defaults
• None registered in the last 2 years.
• Any amount or number provided they are registered 2 years before application.
• They do NOT need to be satisfied.
County Court Judgements (CCJs)
• None registered in the last 2 years.
• Any amount or number provided they are registered 2 years before application.
• Must be satisfied prior to application.
Debt Management Plan (DMP)
• The DMP must have be well conducted.
• Remortgages to pay off the debt management plan completely only.
Bankruptcy and IVAs
• This lender will not except ex Bankrupts or IVAs no matter how long satisfied
Eligibility For Adverse Residential Mortgages• Rates from 3.44% fixed.
• Min deposit /equity of 15 per cent.
• Min income £18,000pa (£35,000 for loans over 80%).
• Min age 21 (all applicants). Max age 65 (at the end of the term.
• Next time buyers, first time buyers and remortgages.
• Income multiples approx. 4 times single income and 3.25 times joint income.
• Minimum property valuation £90,000
• Not for Right to Buy Applicants
Eligibility For Adverse Buy-to-let Mortgages
• Rates from 4.39% fixed.
• Min deposit /equity of 20 per cent.
• Min income £25,000pa (no min for professional landlords with at least 4 buy-to-lets).
• Min age 21 (all applicants). Max age 75 (at the end of the term.
• Must of held a mortgage for the last 12 months.
• First time landlords
• Minimum property valuation £90,000
How to apply
(Please make sure you also have an up-to-date Equifax Credit Report ready to email to us. To get your Free Report please click on the link image)
Payam Azadi is a partner at Niche Advice Ltd who are Independent Financial and Mortgage Advisers in London.