If you are a homeowner and you have a poor credit rating due to missed payments, defaults &/or county court judgements we have a specialist panel of lenders that can help.
Our experienced advisers can help you find a loan whether you are employed or self employed.
Getting A Mortgage With Bad Credit
Worried that your credit history is ruining your chances of getting a loan? Don’t be; there’s no need to worry! If you own a home, you can take out a homeowner loan. This is a great way to release the equity in your property for a number of reasons.
Here at the Money Hub, we work with a large panel of lenders who offer Poor Credit Loans in the UK. We constantly help people with bad credit get loans and after taking some personal details we could be able to give you a in principle decision and at a competitive interest rate. Personal loans start from £1,000 and the loan repayment term can be anything up to 25 years.
How do I find out my credit score?
There are different ways you can do this. One of the easiest ways it to sign up to Experian (they have a 30-day FREE trial!). All signed up? Now you can see how your credit score is. It will be either poor, fair, good or excellent. You can also see the previous finances that you have obtained. County Court Judgements (CCJs) will also be visible. Experian is a great tool to use to increase your credit score. If you think you may not be able to get credit after you have signed up and seen your score, give us a call. You can speak to The Money Hub’s experienced loan brokers. We help many clients with bad credit scored and can help them get a loan.
What’s a default and how do I know if I have any?
Simply put, a default is a missed loan repayment. It can also include missed payments for your credit card or car finance. Usually, a default occurs when you miss consecutive payments, and the lender wants the full balance back. Or if the lender wants to set up a payment plan to get back the money you owe. Not adhering to the credit agreement terms will appear on your credit report. This can also be sent to credit reference agencies and effect your chances of getting credit in the future. Don’t be worried if you have defaults. They don’t always prevent you from getting a loan. The Money Hub works with specialist lenders who help those who have a bad credit history.
What is a CCJ (County Court Judgement)?
A CCJ is a court order in England, Wales and Northern Ireland. It can be registered against you if you don’t repay money that you owe. The court judgement will show you how much you owe and how you will have to repay it. There are many different reasons why a CCJ may be registered against you. These include:
Not paying a Council Tax Bill
Not paying water rates
Not paying gym memberships
Not paying mobile telephone bill
Not paying finance for solar panels / windows / kitchen etc
We work together with a number of lenders who lend to consumers with poor credit, even if you have CCJs. Even if you think you have no chance of getting a loan, you should still apply. You might be surprised!