Consolidating mortgage and line of credit
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The more recent the issue, the worse it looks, and the more serious the issue (in terms of £ and the type of credit the issue was with) the worse it looks.
So, a mobile phone default of £100 is better than a secured loan default of £100. Important: Bad credit history mortgages usually (with the exception to bankruptcy as you may also appear on the hunters register) relate directly to what is showing on your credit file.
Credit history (severity & date) Mortgages for people with bad credit history are most impacted by the type, amount and date of the credit issues.
Whether you are actually eligible for a mortgage depends on your personal circumstances.
‘Yes’ or ’maybe’ = it is possible, it DOES NOT say that if you have any of these issues you are in any way guaranteed a mortgage, as applications are based on a number of factors and interpretations by lenders.
Property details Some lenders have different takes on non-standard property, so if you’re buying or remortgaging a thatched cottage, concrete property, or maybe a property with an annexe, it can effect a lending decision.
Credit score For mortgages with a bad credit score, it’s important to remember that although most lenders will give you a score, some don’t.