Published 31 July 2014 · Last reviewed 1 May 2026
New Bad Credit mortgage with a number of large CCJs, Current IVAs and discharge bankrupts
Credit solution for applicants who have had a life changing event and are looking for a Bad Credit mortgage.
This article is aimed at mortgage applicants who may have experienced the following:
✔ Repossession.
✔ Current debt management plans.
✔ Discharged bankruptcy.
✔ Current IVAs.
✔ Up to 5 CCJs (including large ones!).
I regularly hear clients complain about their credit issues and how they occurred, and importantly how they are preventing them getting a Bad Credit mortgage.
I am always sympathetic to their plight as I believe everyone should be entitled to be a homeowner in this country – bad credit or otherwise. However, perhaps unsurprisingly, many mortgage applicants with past credit issues are prone to overstate their rehabilitation or are simply blind to the facts.
This new bad credit mortgage funding line I have access to can help with all manner of ills but if you want to use it you must be able to isolate the credit issues to a solitary event, for example, business failure, job loss, divorce, bereavement of immediate family member etc. If you have had credit problems before or after the event forget it. [pullquote]WE DO NOT CHARGE ANY UPFRONT FEES[/pullquote]
So it is aimed at the open eyed and honest applicants who have perhaps been through the mill and plan never to return there or make a late payment again and the key criterion is NO credit issues can have occurred in the last 12 months.
The rates start around the 5.5% mark and range up to 6.5%. The key for this product is to get you on the ladder before the house prices are too high.
There is NO early repayment charge so as soon as you are able we will remortgage you to an alternative conventional lender. Getting a Bad Credit mortgage requires a lot more work and expertise so it is essential to seek professional mortgage advice before you start applying to different lenders. At Niche Advice we have helped many clients get on the property ladder having had past problems with credit and will work with you to formulate a strategy and find you a suitable bad credit mortgage product .
WHO QUALIFIES?
Eligibility
- The reason for the adverse credit must be attributed to a solitary life changing event,
- No credit issues registered in the last 12 months.
- Minimum deposit between 25% and 40%.
- Up to 3.5 times your income.
- Minimum income £25,000.
- Minimum loan £50,000.
- Not open to Right-to-Buy, Help-to-Buy or Shared ownership applicants.
- Employed and self-employed (only 1 year’s trading).
- England and Wales only.
Payam Azadi is a partner at Niche Advice Ltd who are Independent Financial and Mortgage Advisers in London and is an experts in getting a mortgage for doctors in the UK.
