Bad Credit Mortgages Defaults

Do you have CCJ’s? Defaults? Arrears? We help you secure a mortgage today!

Bad Credit Mortgage with Defaults

Applying for a mortgage with Defaults showing on your credit history can make obtaining a new mortgage every difficult, most high street lenders will not allow defaults in the last 6 years. At Plus Financial solutions we have lenders that will accept defaults within certain parameters.

What is a default?

A default notice is a formal letter which is usually sent after three to six missed payments. They can only be issued for debts that are regulated by the Consumer Credit Act. Essentially when relating to a debt it means that you have failed to make repayment according to the contract and the debt is now in default. A default will be noted on your credit file with a date of the default and information showing any outstanding balance or settlement date.

What will defaults will our lenders accept?

Defaults within the last 3 months:

No lenders available

Defaults within last 2 years:

Up to 85% of the property value, up to 5 defaults with no limit

Defaults over 2 years:

Up to 85% of the property value, unlimited defaults to any amount

Defaults over 3 years:

Up to  90% of the property value, unlimited defaults and amount

Defaults over 4 years:

Up to 95% of property value, no limits on amount or size

Contact us today to see how we can help you secure a mortgage with defaults!

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CCJ’s

We have lenders who will accept County Court Judgements, even within the last 12 months! Contact us today!

Defaults

Having a default doesn’t mean you cant get a mortgage. We help our clients get mortgages even when they have had a default within the last 3 months!

Arrears

Missing a mortgage payment can make it hard to get a mortgage. If you have missed a couple of payments in the last 12 months we can help!