Bad Credit Mortgage Advice in Sunderland
If you’ve had credit issues in the past, getting approved for a mortgage in Sunderland can seem impossible - but it isn’t. We work with lenders who understand that bad credit doesn’t define your future. At Fairway Mortgage Advice we help you find realistic options and guide you through every step, so you can move forward with confidence.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Frequently Asked Questions
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Yes, you may be able to get a mortgage with bad credit. Your options will depend on the type of credit issues you’ve had, how recent they are, your income, deposit and wider financial circumstances, as different lenders have different criteria.
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There are a number of reasons why a mortgage application may be declined, including credit history, affordability, income, existing debts or the lender’s specific lending criteria. Each lender assesses applications differently, so being declined by one lender doesn’t necessarily mean you won’t be able to get a mortgage elsewhere.
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Yes, you may be able to get a mortgage after a CCJ, default or missed payment. The options available will depend on the type of credit issue, how recent it is, the amount involved and your wider financial circumstances, as different lenders have different criteria.
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Yes, being refused by your bank doesn’t necessarily mean you can’t get a mortgage. Different lenders have different lending criteria, so another lender may be able to consider your application depending on why your bank declined you and your wider financial circumstances.
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Yes, applying for a mortgage can affect your credit score, particularly if a lender carries out a hard credit search. Multiple applications in a short period can also have an impact, so it’s worth understanding which lenders may be suitable before making an application.
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The deposit you need for a bad credit mortgage will depend on the lender and your individual circumstances. Some lenders may accept smaller deposits, while a larger deposit could give you access to more mortgage options, depending on your circumstances.