Complex Credit Mortgage
Complex Credit: Complex credit mortgages are for people who have a less than perfect credit score. It is more common than you think with many people having a blip on their credit profile at some time in life.
Here at First Select Mortgage Brokers we understand peoples situations and have many years experience in helping a wide range of clients who have had past payment issues. We understand that many of life’s storms can impact peoples finances. From divorce, long-term sickness, business failure or unemployment. These past events should not prevent you from being able to purchase your own home in the future.
What is a Credit Score?
Your credit score is a ‘score’ recorded by the three large credit reference agencies: Experian, Equifax and Transunion. Each agency has its own method of scoring you. As a general rule, your score will be higher if; you pay all your bills on time, keep up-to-date with credit card, loan and mortgage payments. Your score will be low if you are late or miss payments, fall into arrears, go beyond credit limits or use pay-day loans. Access your credit report for free: here
We have access to a range of mortgage providers who can consider the following non-standard credit issues:
- Low Credit Score
- Missed payments
- Defaults
- CCJ’s
- Historical Bankruptcy
- Use of pay-day loans
- Lack of credit history
A survey of 2,236 adults, carried out by Ipsos on behalf of the Money and Pensions Service (MaPS), showed a fifth (19%) saw their application for credit turned down between April 2022 and April 2023. One in 20 (4%) said they’d been turned down on three or more occasions.
Those who were refused tended to be younger, with 18-24 year olds (36%) and 25-34 year olds (35%) the most likely. Londoners were the likeliest by location (31%), with residents of the East Midlands (10%) the least likely
Contact us
Read our Free Information guide for Non-Standard Credit Mortgages.
Have more time? We have published a Free Information Guide for Non Standard Credit Mortgages. It is a short 4 minute read and can be accessed: here
About us
First Select Mortgage Brokers are friendly and professional mortgage brokers. We can access mortgages from the whole of the UK mortgage market, meaning we can get the best possible deal for our clients circumstances.
Our team of experts are ready and waiting to help. Contact the team below:
Phone: 0161 393 1575 // 07780 446 937
Email: hello@firstselectfs.co.uk
Visit our Contact Us page to make a formal enquiry
Visit us on our Social Channels:
References & Disclosure:
https://maps.org.uk/en/media-centre/press-releases/2023/one-in-five-uk-adults-declined-for-credit-in-a-year#