Poor Credit Mortgages
The Mortgage Hive
Adverse Credit, CCJs, Defaults, Payday Loans, Late Payments?
Do not let Adverse Credit hold you back from getting a mortgage. We have dealt with many clients in similar situations and we are happy to discuss your options.
The Mortgage Hive is able to help you out when the high street lenders say No. Our Specialist Lenders cover a wide range of deals for all circumstances, we will be able to find the deal right for you despite your previous credit history.
Some factors which can affect your credit score include:
Late or missed payments.
Bankruptcy, IVA, DRO, DMP, CCJ, Defaults, Pay Day Loans
Lack of credit history.
Having a high level of debt.
Applying for lots of credit accounts in a short period of time.
Don't get Stung, Factors which could increase your credit score include:
Check your credit report often. Any fraudulent activity?
Register to be on the electoral roll.
Paying bills and credit agreements on time.
Don't max out, Keep your credit utilisation low.
Limit the amount of applications for credit.
Consider closing unused accounts.
Your Situation is Unique
So is Our Advice.
Even if you have been rejected from large high street lenders, The Mortgage Hive can point you in the right direction. We will review your credit report and advise what is available now and also discuss the options to plan for a positive future.
The importance of an up to date credit report!
At the mortgage hive we offer free advice on poor credit mortgages. We can give you a generic guide, however, to give you free tailored advice, we would request that you send us an up to date copy of your credit report. In the United kingdom we have 3 large credit agencies, Experian, Equifax and TransUnion. A credit report from any of these agencies would give us a snapshot of the last 6 years of your credit history.
We recommend that you obtain a credit report from Checkmyfile if you do not have a recent report. Checkmyfile allows you to check all of your credit information from the 3 largest credit agencies in one report. It also generates a downloadable PDF credit report which you can send to one of our mortgage advisers to review. They offer a free 30 day trial.
What Impact Credit Scoring has with Mortgage Lenders ?
You may have already received your credit score from one of the various credit agencies. Lenders have their own credit score card, like the different credit agencies, they will assess your credit in various ways. It is often the case that an application that has been declined by a lender due to low credit scoring, would be accepted by another lender.
At the Mortgage Hive, after viewing your credit report, we can advise you which lenders are most suitable and likely to accept your mortgage application.
The larger the deposit you have, the lower score required. This means with a Lender it is possible to be declined with a 5% deposit but accepted by the same lender with a 10% deposit. The larger the deposit the less risk for the lender.
Do all Lender's Credit Score?
No, not all Mortgage Lenders credit score. Some specialist mortgage lenders will view your credit history differently, they will have their own criteria for different products, we will need to find a product that accepts your history. This may benefit you if your credit score rating is low according to results given by the large credit agencies.
Therefore, it is important for anyone with Poor Credit, to get expert advice from a mortgage broker.
A Mortgage Broker can cross check your credit report with each Lender to see which will accept you.
Our Latest Reviews
Georgia Blackley5. May, 2022.VerifiedThanks to the Mortgage Hive we are finally on the property ladder! Paul helped us from start to finish with our first time buyer application, what we needed, what to expect and kept us updated every step of the way. Every question (trust me I had a lot) was answered promptly, confidently and simple for us to understand. Thanks again 🎉Susan PRICE27. November, 2021.VerifiedWould most definitely recommend the Mortgage Hive Very good at his job knows what he is talking about We had a very difficult application but Paul once again got the mortgage we needed Can't thank him enough for all his hard work and effort. If you are thinking of getting a mortgage, don't waste time looking go straight to Mortgage Hive.Karolis Marinskas27. July, 2021.VerifiedAbsolutely amazing support in every aspect. Clear explanations on what's required. Never thought I'll get accepted with such a great rate. Recommend 100% to everyone!Pierre Cervello29. June, 2021.VerifiedAs you have seen from the previous reviews Paul seems to be going above and beyond with all of his clients. I am a first time buyer who was not to sure how things worked and I don't think I could have fallen on a better person than Paul to guide me through it. Paul has just been amazing in every aspect of the services provided and I would recommend him to just about anyone with my eyes closed. The service he provided was just simply above and beyond from working out of hours to answering every silly question I had, he was simply without fault. If you are looking for a professional mortgage broker with amazing morals come see Paul he'll get the job done .Lou Eth10. June, 2021.VerifiedPaul is by far the best mortgage broker I've dealt with, and I had spoken to range of different firms by the time I found The Mortgage Hive (if only I had found him sooner, I could probably have saved myself £500 and got the same or a better deal!) Paul is very competent and knowledgeable and isn't phased by complex situations. He managed to find a solution where others failed, sometimes working out of hours to get things through, with an understanding of the urgent nature of my application. He was also able to refer me on to his colleague Kyle for life insurance and I am equally satisfied with the comprehensive service thus far. I have no hesitation in recommending The Mortgage Hive. It is a gem of a company and I will definitely be returning next time I require a mortgage product.Keil Hetherington19. December, 2020.VerifiedMy wife and I found ourselves in a strange situation where a wrongful default was placed on our credit file, we needed to sort a mortgage to secure our new home whilst we work din the back ground to remove it. Most mortgages advisers we found were not willing to help as it was to much work. However, Paul was amazing, understanding, patient and very helpful, he was able to find a lender that was competitive, he explained and advised throughout the process and we always knew where we were. I would highly recommend Paul and will be a returning customer without doubt.Laura Cornelius5. August, 2020.VerifiedAbsolutely blown away with how great Paul was at sorting out our mortgage during the pandemic. He was incredibly helpful, knowledgable and friendly in the whole process. We had a couple of hurdles in the way, but Paul quickly sorted everything out, found us other options immediately and got us our mortgage quicksmart 🙂 If you are unsure about anything, he will answer any questions and help explain everything clearly so that you do. Thank you so much. We will come back soon for when we need to re-mortgage or get another BTL mortgage 😉josh brown24. January, 2020.VerifiedPaul is absolutely brilliant, I couldn't have moved without his help and guidance. You will certainly be hearing from me again in the future.Pete Barrett24. January, 2020.VerifiedPaul from the Mortgage Hive, spend hours explaining everything to me in understandable terms and made sure I wasn’t making rash decisions based on I’ll information, I getting the house and deal I really wanted all thanks to his expertise, thanks again Paul great workTimothy Ward24. January, 2020.VerifiedPaul was very helpful in finding the correct solution to finding my first mortgage.