Mortgages with a default

Many mainstream lenders won't consider an applicant with defaults in the past three years, whilst some have a zero tolerance approach to borrowers with defaults on their credit files. We know that hearing numerous high street banks say no at first glance can be disheartening; however, every lenders' criteria is different and rapidly changing.

Fortunately, there are a growing number of specialist lenders with an appetite for default mortgages. It's important to understand that the older your default is, the less impact it's likely to have on a decision. An unsatisfied default from three years ago will be less problematic than a default issued within the last 12 months. Of course, if you have a satisfied default, you will drastically boost your chances of getting a mortgage.

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Don't let default difficulties postpone your dreams

Today, fewer people fit the traditional 'vanilla' lending criteria of high street banks, highlighting the importance of the specialist lending sector. Mortgages can be complex at the best of times, but we know the default mortgage market inside out, and we specialise in finding solutions that work for financial situations like yours. Why play the waiting game when the right deal could be out there? We may already know of suitable lenders that are waiting to assess your eligibility on an individual basis, looking beyond your default or low credit score.

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Assessing the strength of your application

Defaults generally fall into two classifications: severe and non-severe. Severe defaults can be caused by missed mortgage payments, defaulting on a business loan or car finance defaults. Non-severe can be issued due to missing mobile phone payments or late credit card payments, among other grounds. Lenders consider the severity, date and whether the default has been settled, but there is no one size fits all approach. Many lenders are receptive to unique situations, so don't let your default stop you from starting the journey of acquiring the right mortgage product.

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Why choose our default mortgage brokers

  • Our knowledgeable brokers go above and beyond for our clients.
  • We handle complex cases like yours daily, so you'll never have to fear ‘computer says no’ moments.
  • You have our undivided attention every step of the way.
  • Create Finance has been awarded the 'Feefo Platinum Trust Award' for outstanding customer care.
  • Whole of market access and a fresh, outside the box approach to securing mortgages for borrowers with credit issues such as defaults.
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Create Finance Limited. Company Reg: 09582938. Registered Office: 35 Friar Gate Studios, Ford Street, Derby, Derbyshire, DE1 1EE.

Create Finance Limited is registered with the Data Protection Act 1998 registration No. ZA129368 and is authorised and regulated by the Financial Conduct Authority under Firm Reference Number 708799 an Appointed Representative of TMG Direct Limited which is authorised and regulated by the Financial Conduct Authority under Firm Reference Number 786245 and registered with the Data Protection Act 1998 Registration No: ZA178200.

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. The guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK. The overall cost for comparison is 4.8% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.