Mortgage Advice Experts

Menu
  • Home
  • Calculators
  • Residential
    • Residential Mortgage Deals
    • Remortgages
    • Debt Consolidation
    • High Income Multiples
    • Complex & Larger Mortgages
    • Right to Buy – Council
    • Foreign Nationals with a Visa
    • Self Employed
    • Equity Release Mortgages
    • Help to Buy Scheme
    • Gifted Deposits
    • Guarantor Mortgage
    • Shared Ownership
    • Non Standard Properties
    • Inherited Property
    • Survey / Valuation Costs
    • Close
  • Buy to Let
    • Buy to Let Mortgage Deals
    • Buy to Let Tips
    • BTL 80% Loan to value
    • Buy to let Remortgage
    • Let to Buy
    • HMOs
    • Limited Company
    • Portfolios
    • Holiday Homes
    • Ex Pats
    • Buy to Let to Family Memeber
    • Bad Credit
    • DSS Tenants
    • Into Retirement
    • Foreign Nationals
    • Inherited Property
    • Survey / Valuation Costs
    • Close
  • Bad Credit
    • Bad Credit Mortgage Deals
    • Bad Credit Mortgage
    • Mortgages with defaults
    • Mortgages with CCJs
    • Buy to Let with Bad Credit
    • EX Bankrupt Mortgages
    • Mortgage after an IVA
    • Declined Mortgages
    • Low Credit Score Mortgage
    • Free Credit Report
    • Clean up your Credit
    • Survey / Valuation Costs
    • Close
  • Loans
    • Secured Loans
    • Why get a Secured Loan
    • Residential loans with bad credit
    • Buy to Let Loans with Bad Credit
    • Close
  • Commercial
    • Commercial Mortgage Tips
    • Bridging Loans Explained
    • Why use Bridging Finance
    • Bridging Finance Rates
    • Auction Finance
    • Auction Finance Rates
    • Development Finance
    • Non Standard Commercials
    • Nursing Home Finance
    • Divorce Financing
    • Close
  • Protection
    • Home Insurance
    • Life Insurance
    • Will Writing Services
    • Close
  • About
    • Why Niche Advice
    • Our Lender Panel
    • Blog
    • Introduce Business
    • Treating Customers Fairly
    • Terms and Conditions
    • Close
  • Contact
    • Close
  • Online Mortgage Finder
  • Mortgage Calculator
  • Free Credit Report
  • Contact Us
You are here: Home / Mortgages / Mortgages with Bad Credit / Bad credit mortgages for first time buyers

by Payam Azadi

Bad credit mortgages for first time buyers

buy to let Mortgage Broker

Mortgage Lenders that can offer bad credit mortgages to first-time buyers with CCJs and defaults on their credit file.

I’m a first time buyer with a poor credit rating can I get a mortgage.

As a first time buyer life is hard enough let alone getting a mortgage if you’ve had problems in your younger days. Fear not I have access to a number of lenders that will lend to first-time buyers as long as the credit issues have been resolved. To elaborate if you have had a CC Js or a default the registered date will need to be over two years old or longer. If you have had missed or late payments in the last 24 months you are fine as long as they are not showing as more than a status two on your credit file. If it’s showing a status three – which means three months late payments – then you will need to wait until it is behind you by at least two years.

Deposit amounts are around 15 to 20% depending on your earnings. Family are able to contribute towards the deposit provided it is a gift and they are not taking an interest in the property. So the bank of Mum and Dad may be an option if you are struggling to achieve this level of deposit on your own.[pullquote]What is NOT available is a shared appreciation or shared ownership scheme. The adverse credit lenders look for a plain conventional purchase and facilities such as Government’s Help To Buy is a no no.[/pullquote]Unlike most of the other websites out there we deal with this type of this business day in day out and really do know what criteria is rather than just simply display out of date high street lender logo for lenders that don’t lend on bad credit mortgages let alone first-time buyers with the same.

QUICK GUIDE TO FIRST TIME BUYER BAD CREDIT MORTGAGES
(all cases need to be discussed in the first instance)

County Court Judgements (CCJs) Any number and any amount Registered over 2 years ago Satisfied before application
Defaults Any number and any amount Registered over 2 years ago Can be unsatisfied
Missed payments Maximum of status two in the last 2 years

For those of you who are looking for a little bit more information in regards to bad credit mortgages for first-time buyers I suggest you click on the related Topics below and to the side of this article which will give you some more insight into what is needed from you to get a mortgage.

There is a lot more in regards to the criteria which is needed to get a bad credit mortgage but the very first starting point is for you to get your Equifax credit report. If you click on the banner below you can get this for free.

For more information on our range of bad credit mortgages for first-time buyers please complete the enquiry form on the right-hand side of this page alternatively call us on (020) 7993 2044.


Payam Azadi is a partner at Niche Advice Ltd who are Independent Financial and Mortgage Advisers in London.

mortgage broker fees

 

Payam Azadi

Author: Payam Azadi

Payam Azadi is a partner at Niche Advice who are whole of the market Independent Finance Brokers In London. His role is very much focused on Property financing both on residential and commercial lines.

You can call Payam on 020 7993 2044 or alternatively complete the enquiry form so he can personally get in touch with you.

Niche Advice is not tied to any bank, building society, estate agent or insurer and offers Independent Mortgage and Insurance advice.

Twitter Facebook Google+ Linkedin

Related posts:

  1. Mortgage with bad credit CCJ Mortgages for ex bankrupts, people with CCJs, Defaults and even past IVAs we can help ...
  2. Buy to Let Remortgage with Bad Credit including defaults and CCJs I want to get a Buy to Let Remortgage with Bad Credit as I have...
  3. Mortgage with past CCJs and Defaults as long as they are over two years old We can also consider 1 or 2 months missed payments on unsecured debt in the...
  4. HMO Mortgage Product for First Time Buyers – 3 Year Term Loan If you have been surfing the net or talking to brokers you are probably acutely...
  5. Shared Ownership Mortgages Buy a £400,000 house with a £10,000 deposit Small deposit for a home – we...
  6. Buy to Let Mortgage for people who have had CCJs and Defaults We now have access to Buy to let mortgage products for people who have had...
  7. Why lenders are curbing interest-only Mortgages In the last few weeks we have seen huge changes to some of the major...
  8. Free credit check for life via www.noddle.co.uk Free credit check for people who are thinking of getting a mortgage and after. One...

Filed Under: Mortgages with Bad Credit Tagged With: first mortgage bad credit mortgages, first-time buyers with CCJs, first-time buyers with defaults, Guide to get a Mortgage for the first time with bad Credit

Make an enquiry Online

Why Niche Advice

Mortgage Deals

Tools / Calculators

Latest News / Blog

Equifax

Call us on 020 7993 2044

no upfront broker fees
Payam Azadi

Income Multiples for Bad Credit Mortgage products

Bad credit mortgages at 4.5 times income If your looking to find out What the Income Multiples are for Bad Credit Mortgage products then you have found the right place. Mortgages are risk based, as … [Read More...]

Should I take the free legal scheme offered by my mortgage provider?

Mortgage Conveyancing explained

Recent Posts

  • How much mortgage deposit do I need to buy a property
  • Joint Borrower Sole Proprietor Mortgage
  • Pay day loans have stopped me get a mortgage
  • Tracker Mortgage vs Fixed Mortgage
  • How to mortgage a property left to you in a will

Categories

Contact us

Tel: 020 7993 2044
Fax: 0845 528 0411
Email: info@nicheadvice.co.uk
Web: www.nicheadvice.co.uk
Site Terms and Conditions 
  • Facebook
  • Google+
  • Linkedin
  • Twitter
  • YouTube
AS A MORTGAGE IS SECURED AGAINST YOUR HOME OR PROPERTY, IT COULD BE REPOSSESSED IF YOU DO NOT KEEP UP THE MORTGAGE REPAYMENTS. If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.

Niche Advice Limited is a Credit Broker and does not lend money directly to clients. Niche Advice Limited is authorised and regulated by the Financial Conduct Authority. FCA Number: 750263.

Commercial Buy-to-Let and commercial mortgages are not regulated by the Financial Conduct Authority.

If you wish to register a complaint, please write to us on the details below or call 020 7993 2044.

Correspondence Address: Niche, Unit F6, The Addington Business Centre, Vulcan Way, New Addington, Surrey CR0 9UG.
A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request and if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at www.financial-ombudsman.org.uk or by contacting them on 0800 023 4 567.
Registered Office : Niche, Unit F6, The Addington Business Centre, Vulcan Way, New Addington, Surrey CR0 9UG. Registered in England & Wales. Company registration number: 06599033. VAT number: 974 2007 25.

EQUIFAX OFFER -PLEASE NOTE THAT MONTHLY FEES APPLY TO THE CONSUMER FOLLOWING THE 30 DAY FREE TRIAL OF THESE PRODUCTS IF THE USER DOES NOT CANCEL WITHIN THE TRIAL PERIOD. THE MONTHLY FEES ARE £7.95 FOR THE FREE CREDIT REPORT. A USER CAN CANCEL THEIR SUBSCRIPTION WITH EQUIFAX AT ANY TIME.

Copyright © 2017. Site Design By Niche Concepts