Refused Credit

Has your application for a mortgage been rejected? Or do you suspect that a high street lender might turn your business away? Don't worry - you are not alone.

A growing number of people in the UK now fall outside the mainstream criteria for what constitutes a 'standard' mortgage borrower. Many people have less-than-perfect credit records, often through no fault of their own. Bankruptcy or divorce may have affected your finances for a while. Or a simple oversight such as missing a credit card payment may have left a blot on your credit record, which can lead to automatic rejection from a mainstream mortgage lender.

Refused Credit Mortgages

An estimated one in four Britons would be turned down by a mainstream mortgage lender. This is because not everyone fits the standard criteria lenders apply. But don't worry if you are one such customer - help is at hand. Read more›

Correct Your Credit

If you are serious about repairing your credit status, first you need to take a long hard look at how you got into trouble in the first place. Firstly, get hold of your credit record from one of these two credit reference agencies. Read more›

Top Tips

1. What types of mortgage are available to me?
Most lenders offer a range of fixed and capped rates, discounts and flexible mortgages. Some offer base rate tracker mortgages, and some will give cashbacks. Chat through which deals are available for first-time buyers, and which will best suit your needs.

2. What would my monthly payments be?
Get quotes on a number of deals too see what your payments would be and whether they fit your budget. Ask for a quote on what your monthly repayments would be at 10% interest. If that would be completely beyond your means, you could be over-stretching yourself.

3. Are there any redemption penalties?
Fixed, capped and discounted deals may carry redemption penalties tying you to the lender after the end of the fixed, discounted or capped period. If there are penalties, find out how long they run for, and how much your monthly payments will be on the lender's standard variable rate. Read more tips on finding the right homeloan ››