Mortgages With Defaults
One of the most common reasons that people are knocked-back from a mortgage is because of defaults on their credit file.
If you were applying for a mortgage with a high street lender and you had defaults on your credit file, there’s a strong possibility that you will face rejection. This is because many lenders on the high street will generally only provide you with a mortgage if you have a squeaky clean credit score.
But we understand that life is full of unexpected twists and turns, which can result in your credit score being negatively impacted. You may have faced financial difficulty, got yourself into some debt and before you know it, your credit score has been seriously damaged.
Whatever your past holds, we are not here to judge – we are here to help provide you with the ideal mortgage that is most suitable for your individual needs. Already, we’ve helped lots of people that have been declined a mortgage due to defaults on their credit score and we can help you too. Even if your circumstances are not so straight-forward, from having bad credit, to being self-employed.
We have access to over 50 lenders all across the country that are ready and waiting to help you secure your ideal mortgage. We work with those providers in order to find you the best mortgages available from each one.
Can I Get A Mortgage with A Default?
The good news is, mortgages with defaults are within reach for individuals with specialist circumstances. The market for adverse credit lending has grown significantly since the credit crunch and some lenders continue to relax their pass level requirements as things continue to develop.
However, it doesn’t necessarily mean that it will be a breeze getting approval for mortgages with defaults. There’s still some work to do, but the process can be made a lot smoother when you seek the help of specialist mortgage advisors that know the market inside out and know what is required in order to get your application approved.
Dan Churchouse2024-05-07We used Regal for our recently completed house purchase. The mortgage was a relatively complex arrangement given it consisted of two parts (a result of porting over the terms of an existing mortgage and adding additional debt on new terms) but Matthew Graves and Kirsti Newman were very clear in their articulation, making it easily digestible and allowing me to factor into monthly affordability. They were also speedy in their responses and clearly not biased to any one provider. I feel safe in the knowledge that I ended up with the best deal available and would highly recommend their services.
Taylor Joanne2024-04-30Excellent and professional service. Everything was handled and dealt with quickly.
Sue Vecchione2024-04-23Well worth the fee. Mortgage sorted in less than 48 hours. Fantastic service with great communication. Much recommended 😀
Harry Jackson2024-03-05Matthew, Kirsti and Katie were all really helpful. Made sure that, as first time buyers, we understood everything that was going on and were always there to help if we needed them to. 100% would recommend you use them!
Michael Clarke2024-03-04Karen and Kirsti have been invaluable in helping us through the mortgage application process for our first home. We would thoroughly recommend their services - it has saved us a lot of stress! Swift and considerate guidance and support throughout the process.
Ioana Tomut2024-03-02We have worked with Karen and are extremely happy with how she handled our account. This was the second time we have attempted to buy our first house and we have worked with another mortgage advisor before. While both were excellent in terms of service and communication, Karen's suggestions for solicitors and survey were significantly cheaper to what we were quoted last time. I greatly recommend them.
R Findlay2024-02-29Thank you very much to Richard at Regal Finance for making our first home purchase run as smoothly as possible. Richard was available to provide us advice throughout the whole process and I would highly recommend using Richard at Regal Finance Group!
Sarah Carter2024-02-19Absolutely brilliant! Alwasy go over and above and feel thoroughly looked after. Highly recommend.
Joe Alsford2024-02-05I can not speak highly enough of the service I received from Richard Powers at Regal. Gave excellent clear advice, continually negotiating the best deal available. Went above and beyond, fantastic to have in your corner in what can be a stressful process!
Kiran2024-01-15Cannot recommend Regal Finance enough! Matthew and Kirsti were amazing and completely took the stress out of the process. They were always available to answer questions and guide us through everything. I found they had access to a wider range of products than other advisors I had used in the past. I will be recommending Regal Finance Group to everyone I know!
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How To Get A Mortgage with Defaults
In order to give you the best chance of success when it comes to mortgages with defaults, there are certain things you can do yourself in order to boost your chances.
Firstly, Find Out What’s On Your Credit Files
To give yourself a good chance of being accepted when it comes to mortgages with defaults, you need to be able to know what the current state of your credit file is like. In order to provide you with the most useful and relevant advice, we need to have a good understanding of your current position, so we can establish the most suitable lenders for you. That’s why we stress the importance of seeking advice from specialists who know what they are doing.
The best way you can see the status of your credit file is by utilising a credit report service such as Noddle, Experian or ClearScore. It can be significantly beneficial if you use more than one, as each lender uses a different reference agency and if you have had bad credit, the reports will look very different. Once you have them, you should have the reports ready to send to your advisor.
Three, Simple Steps To Your New Mortgage
When you’ve compiled all your information ready to show to your advisor, the next step is to make an application or enquiry and one of our friendly advisors will contact you shortly. Once we’ve been in touch, all you need to do is send us the documents we require and you will receive a Decision in Principle from one of our lending panels – it really is that simple!
Save Yourself The Time and Hassle – Let Us Lend A Hand
Getting a mortgage if you have other credit issues as well defaults can make things even harder for you and will impact the lenders that’ll consider you, the rate, fees, and the loan to value.
Mortgages with defaults aren’t easy to obtain on your own. But with expert help and guidance from advisors that know the market inside-out, you can save yourself the time and hassle of trying to find the right mortgage for you. Not all mortgage and protection products are the same and we understand the differences in order to help you find the perfect product.
So what are you waiting for? Give us a call today if defaults are stopping you from securing a mortgage.
Get A Mortgage With Regal in 3 Easy Steps
Step 1
Complete an enquiry form and an advisor will call you back.
Step 2
Send us the documents we need.
Step 3
Receive a Decision in Principle from one of our lending panel.
