Declined a Mortgage
Declined a Mortgage
you’ve been unsuccessful with a mortgage application, your first instinct might be to try your luck with a few other lenders. But be warned, too many unsuccessful applications can have a negative impact on your credit score.
That’s why it’s recommended you contact Clever Mortgages, as this will increase your chances. We specialise in helping customers with bad credit and low credit scores get the mortgage that’s right for them. Some of these mortgages aren’t even available directly to the public
We help customers with bad credit secure the best mortgages rates available. We know the lenders that will say, YES
Get your mortgage with Clever Mortgages and we could:
Find the mortgage right for your individual situation Get a mortgage, even if you’re self-employed
Have your benefits taken into account Get a mortgage with bad credit
We could still find you a high street lender, even if you do have bad credit
Our customers Mr and Mrs D were first time buyers who had previously been declined by a high street bank.
With Clever Mortgages they were able to:
- Use 100% of their Universal credit and child benefit alongside their income
- Take out a first time buyer mortgage with a high street bank
- Secure a fixed rate of 2.18% even though they had a poor credit history
- Ensure financial stability with a good rate and low payments for two years
- Start rebuilding their credit score
| Lender | Balance | Payment | Rate | Term | |
|---|---|---|---|---|---|
| New mortgage | Barclays | £139,500 | £528.27 | 2.18% | 30 Years |
Completed September 2019
Mr and Mrs D were a couple of first time buyers struggling to find a mortgage. They had already been declined by a high street bank because of their bad credit profiles and previous defaults. Plus, they needed a lender which would accept 100% of the universal credit along with Mr D’s income, which they were finding difficult.
At Clever Mortgages we helped this couple by securing them a first time buyer mortgage with another high street bank. They now have an affordable mortgage with a fixed-term which is covered by their income and benefits. This has provided them with the security of a new home with low payments for two years.
What should I do next?
- Enquire online with us today
- One of our experts will call for a chat to find out more about what you’re looking for
- We do all the hard work for you – we’ll find the right deal for you
- Our expert will keep you informed of progress, all the way to completion
We help customers just like you every day to find a first-time buyer mortgage, a remortgage or a mortgage on a new property.
With Clever Mortgages you can expect:
- Specialists in bad credit mortgages
- A thorough search of the market, for the right deal for you
- A friendly service, where you’re always kept in the loop
It’s hassle-free and easier than you might think. Let’s get the ball rolling.
Why should I use a mortgage broker?
- You’re likely to only have to do one application – this will save you time, and more applications from being recorded on your credit file
- Some mortgages especially for people with bad credit are only available if you go through a mortgage broker
- Brokers can advise on what would improve your chances – e.g. finding a guarantor or opting for a joint mortgage
- They can take the hassle of application forms away – talking you through every step, and asking all the right questions
Understanding credit scores when you’ve been declined a mortgage
All lenders look at information on your credit report such as:
- Whether you’ve made late payments for bills and loans
- Any details of debt management plans you have taken out
- Other details, such as any financial connections with others you’ve had – for instance partners you’ve held joint accounts with
How long is information stored for on your credit file?
Six years is the amount of time a loan you take out will stay on your file, as will CCJs (County Court Judgments), bankruptcy, IVAs (Individual Voluntary Arrangements), and an administration order. Searches and some applications will only remain on your file for a year, but debt collection searches will stay on for two years. Addresses and associations with others can stay on your file indefinitely.
Credit scores are important – but whatever your situation, we might be able to help – just get in touch and let’s see how we could help.
6 reasons to choose clever
Specialists in bad credit
Every member of our team is trained in bad credit situations and know how to find the right solutions for customers – helping them get the mortgage that’ll get them back on track.
Over 100 lenders
The number and quality of lenders we work with means we have access to a diverse spectrum of best-rate deals. The lenders we use means we have all areas covered – even for those in particularly niche circumstances.
Not every case is the same
As each customer’s situation is unique, we take the time to understand your situation, and we carefully assess your goals and how we’ll make sure the mortgage we get helps you to achieve them.
Access To Exclusive Rates
The relationship we have with our lenders means we have access to products and deals that simply aren’t available to customers going direct. This is true particularly for those in adverse credit situations.
Offering the best support
We know that buying, moving house or remortgaging can be stressful, so we do our upmost to make the process as hassle-free as possible. We’re there for you at every step, always keeping you in the loop.
Excellent Reviews
We’re proud of our long-standing 5 Star Rating on Trust Pilot, and love all the positive feedback we get from customers every day. We feel privileged to help people get a great deal with far less stress.
