Every lender on earth is going to run a credit check on anyone applying for a mortgage. If your credit history is less than perfect you can expect to face some resistance. How much resistance will depend on the type and number of black marks on your credit history, as well as how much time has passed. That said, poor credit score mortgages in Beckenham are more common than you think. Below we will look at how to get them as well as the advantages and disadvantages of this type of mortgage.
How to Get Bad Credit Score Mortgages in Beckenham
Getting a mortgage is not impossible if you have bad credit. Here are a few things you can do that might improve your chances.
- Be patient – If the last black mark on your credit history occurred fairly recently you might want to wait a couple of years before applying. Of course, during that time you should avoid picking up any more black marks.
- Make sure you have a stable income – Lenders crave stability. Don’t apply for a mortgage until your income situation is stable and has been for a while.
- Don’t try to fake your way into a mortgage – Just tell it like it is. The lender is going to find out anyway. Trying to hide things will just make them think you’re untrustworthy.
- Clear up as much debt as possible first – Before you apply for a mortgage, clear as many debts as possible off your ledger.
To learn more about steps you can take to improve your chances of getting a bad credit mortgage talk to the pros at Mortgage & Lifetime Solutions.
