Mortgages For Adverse Credit
A credit blip in the past shouldn’t stop your future. We specialise in finding mortgages for those with CCJs, defaults, or missed payments. Let us help you navigate the "computer says no" culture of high street banks.
We See the Person, Not Just the Score
Most high street banks use automated scoring that lacks common sense. At Evergreen Mortgages, we work with specialist lenders who look at the story behind your credit report. Whether your issues were caused by a relationship breakdown, illness, or simply a life "blip," we are here to build a case for your mortgage.
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Mortgages with CCJs and Defaults
A County Court Judgment (CCJ) or a default doesn't automatically mean a "no." If your CCJ is satisfied or over three years old, your options increase significantly. Even with recent defaults, we have access to lenders who prioritise your current affordability over past mistakes.
Mortgages After an IVA or Bankruptcy
Rebuilding your life after an IVA or bankruptcy is a major achievement. While many lenders require you to be discharged for a set period, we know the specialist providers who offer "Day 1" or "Year 1" post-discharge mortgages, provided you have a stable income and a suitable deposit.
Missed Payments and Payday Loans
If you have used payday loans in the last 12 months, the high street will likely decline you. However, we work with niche lenders who understand that life happens. We will help you present a clean 3 month bank statement history to show you are back on track.
What We Need to Help You:
Your Full Credit Report
We recommend using CheckMyFile as it shows Experian, Equifax, and TransUnion in one place.
A Brief Explanation
A simple paragraph explaining the "why" behind the credit issues helps us "sell" your story to a human underwriter.
Evidence of Stability
3 months of "clean" bank statements (no returned direct debits) is often the key to a successful application.
computer says no!
Lenders can often be frustrating and unhelpful in these situations in a ‘computer says no’ kind of way. They tend to have internal scoring that they carry out, which changes regularly and which they do not always provide details on. Sometimes you don’t know there’s an issue until your bank says “no”.
Difficult times
Other times our clients have been through difficult times, and finances became too difficult. There are so many reasons that our clients may have had issues with their credit in the past – it could be a relationship breakdown, illness, bereavement , job loss or redundancy.
Here we want to help you to make the next steps into leaving that situation in the past and moving forwards with a brighter looking future.
Frequently asked questions
Does a default stop you getting a mortgage?
Having a default does not stop you from getting a mortgage and your default does not need to be repaid in full before you can get a mortgage.
If your default was registered over three years ago or was under £300 in value it could make things a little easier, providing there has been no new default registered in the last three months. You should have access to a lender given the right circumstances.
You may find that due to your defaults you need a larger deposit to proceed with a mortgage. If you contact us with a copy of your report we can help you to find out how much deposit is needed.
Click here for a 30 day free trial from a third-party company to check your credit score.
Please be aware that after the initial free trial, subscription fees apply, so be sure to unsubscribe to avoid charges.
Can I get a mortgage with recent missed payments?
Recent missed payments can cause particular difficulty in obtaining a mortgage. When a lender considers you for a mortgage, they pay particular attention to how you are currently managing your finances so recent missed payments would be a cause for concern. It’s not impossible and we have had success for clients with recent missed payments; however you need to have a good explanation for why payments were missed. Ideally the most recent three months as a minimum should have been made on time and there should be no return direct debits or missed payments, showing in your bank account in the last month.
Can I get a mortgage when I have had payday loans?
Generally speaking, if you have had a payday loan in the last 12 months or if you have an active payday loan, this can cause difficulty in obtaining a mortgage. There are a few specialist lenders who can help but they will need a good explanation as to why the payday loan was required.
Can you get a mortgage with an IVA?
It is possible to remortgage whilst in an IVA, but only with specific lenders and circumstances, and often the remortgage will include repayment of the IVA through the equity in your home. Generally speaking, your IVA must be clear before you take out any new mortgage.
When you take out an IVA, you agree that you will not take out any unnecessary finance before the IVA is cleared completely. They may agree that a new car or car finance is necessary to enable you to get to work and back so that you can uphold your IVA agreement, but if you currently live in rented accommodation or with a family member, the IVA company is unlikely to agree that it is necessary for you to enter into a mortgage agreement before they are paid in full.
Can I get a mortgage if I pay off my IVA early?
Yes, but be prepared to provide a much larger deposit if you have only just come out of an IVA as lenders will need additional security to approve the mortgage if you have just paid off an IVA.
Ultimately the way the mortgage lenders view it is if you have had issues with your credit you pose a more significant risk of not making your mortgage payments. This would mean the lender has to go through the cost and process of repossessing the property. The bigger risk you pose, the more investment or deposit the lender likes you to have in the home, so their mortgage is smaller and easier to recover if they have to sell the house on repossession.
When you have only recently entered into and paid off an IVA you are considered a higher risk than if your IVA was entered into a long time ago or was settled for some time. Every year that passes after your IVA is cleared reduces the amount of deposit you might need. We suggest paying the IVA in full as soon as you are able, and then start building your deposit for a house.
Depending on your individual circumstances, it may be that you need to be able to provide a larger deposit or that the lender needs additional explanations and documentation to be able to help you, we can advise you on what you need.
For a tailored one-to-one personal consultation, please call us or complete the contact form.
How to get a mortgage after bankruptcy?
It is possible to get a mortgage after bankruptcy, you will need to be fully discharged generally for at least 12 months and for some lenders it will be longer than this, however each year that passes should provide extra lenders and extra chances for you to obtain a mortgage.
Ultimately the way the mortgage lenders view it is, if you have had issues with your credit you pose a more significant risk of not making your mortgage payments, which would mean the lender has to go through the cost and process of repossessing the property. The bigger risk you pose, the more investment or deposit the lender likes you to have in the home, so their mortgage is smaller and easier to recover if they have to sell the house on repossession.
Depending on your individual circumstances, it may be that you need to be able to provide a larger deposit or that the lender needs additional explanations and documentation to be able to help you, we can advise you on what you need.
For a tailored one-to-one personal consultation, please call us or complete the contact form.
Does a CCJ stop you from getting a mortgage?
No, a CCJ does not stop you from getting a mortgage and it does not necessarily need to be paid in full before you can get a mortgage.
However, you may find that due to your CCJ a larger deposit or amount of equity is required in the property. If your CCJ is satisfied (paid in full) or if your CCJ is over three years old, this will make things a little easier for you. Every situation is unique, but if you contact us, with a copy of your credit report, we can help to point you in the right direction.
Providing there has been no new CCJ registered in the last three months you should have access to a lender given the right circumstances.
Click here for a 30 day free trial from a third-party company to check your credit score.
Please be aware that after the initial free trial, subscription fees apply, so be sure to unsubscribe to avoid charges.
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MORTGAGE ADVISeR in essex
Evergeen Mortgages is based in Upminster, Essex and provides mortgage advice.
Covering the majority of Essex including Brentwood, Shenfield, Billericay, Basildon, Chelmsford, Canvey Island, Dagenham, Epping, Hornchurch, Ilford, Ingatestone, Maldon, Romford, Southend, Upminster and Wickford.
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Evergreen Mortgages, 9 Stanley Road, Bulphan, Upminster, Essex, RM14 3RX
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LEGAL INFORMATION
Typically, a fee no greater than £995 is charged for mortgage advice on receipt of a mortgage offer or on successful completion. This would be confirmed in writing once a brief outline of your borrowing requirements have been established. Many of our competitors charge upfront fees for advising and processing applications, regardless of the outcome, whereas our fee is only ever payable on receipt of a mortgage offer or on completion.
Evergreen Mortgages is a trading name of AGA Mortgages who is an appointed representative of Mortgage Intelligence Ltd which is authorised and regulated by the Financial Conduct Authority under number 305330 respect of mortgage, insurance and consumer credit mediation activities only.
We always aim to provide a high quality service to our customers. However, if you encounter any problems and we are unable to resolve them you can take your complaint to an independent Ombudsman. Our advice is covered under the Financial Ombudsman Service.
Please note that most buy to let and commercial loans are not regulated by the FCA and neither is some bridging finance. We shall advise if your specific finance requirement is classed as a regulated activity and therefore covered by the FCA.