Survey says good news for Bad Credit Borrowers

good news

Results of our bad Credit Mortgages survey

Our recent survey of our bad credit mortgage enquirers has revealed a lot of good news that will help them to achieve their mortgage lending.

Call us now for advice on bad credit mortgages on 020 8979 9684

Deposit

Having a good size deposit is very important if you are seeking a mortgage when you have bad credit.
One third of our respondents have said they can get help with their deposit from family.

Income

in the current mortgage market every applicant needs to be able to prove their income.
98% of our respondents said they can prove their income.

Employment

The ability to prove steady income is key to mortgage lending.
87% of our respondents are employed

Self-employment

If you are self-employed it is important to have at least one years trading behind you.
90% of our self-employed bad credit respondents have at least one years trading history

Time

if you have had bad credit it is important to put some distance between your problems and your mortgage application.
70% of our respondents are at least two years on from their credit problems

County Court judgements

County Court judgements can be difficult to justify with mortgage lenders.
Three quarters of our respondents do not have CC J’s, of those that do, 95% incurred those CC J’s over 24 months ago.

Showing improvement

It is important that lenders see a stronger recent financial track record from applicants.
Over 90% of our bad credit respondents can show clean bank statements over the last three months.
84% of our respondents had not used payday loans in the last 12 months.

All of this is good news and puts us in a strong position to help our bad credit mortgage applicants to secure lending.

Further information on Bad Credit Mortgages

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