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It’s important to know that many people have some level of adverse credit on their credit report. The good news is, as a mortgage broker in Essex, we are usually able to help most applicants secure a mortgage despite having bad credit in Essex. Here are some of the areas we can often assist with:
Getting a mortgage with bad credit in Essex is possible, but make sure that you take the right approach. Start by checking your credit report for errors and work with a specialist mortgage broker in Essex who can access lenders open to bad credit applicants.
Saving for a larger deposit, typically 10-15%, will also improve your chances. Specialist lenders often cater to those with missed payments, defaults, or CCJs, though you may face higher interest rates and stricter lending criteria.
Improving your affordability by reducing debt and ensuring stable income will strengthen your application. Working with a broker will help you find the most suitable deal for your situation.
Having bad credit in Essex does not make getting a mortgage impossible.
There are specialist mortgage lenders who offer products tailored to those with a history of missed payments, defaults, or County Court Judgements (CCJs).
While the options may be more limited and interest rates higher, working with a mortgage broker in Essex like us can increase your chances of finding a suitable mortgage.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The fee is up to 1% but a typical fee is £495.
For a mortgage with bad credit in Essex, lenders usually require a larger deposit to offset the increased risk.
Typically, you’ll need to put down at least 10-15% of the property’s value, depending on the severity of your credit issues, as a higher deposit can improve your chances of approval and may lead to slightly better interest rates.
To get a precise figure you are best speaking to a mortgage advisor in Essex. They will take a look at your income, credit history, current situation and work out what you need to put down.
Yes, it’s possible to get a debt consolidation mortgage with bad credit in Essex, though lenders may apply stricter criteria.
By consolidating your debts into your mortgage, you could simplify payments and potentially reduce monthly outgoings, but bear in mind that it may extend your repayment term and increase the total interest paid.
Yes, you can get a mortgage with a County Court Judgement (CCJ) in Essex, but your options may be more limited.
Specialist lenders are typically more flexible when it comes to CCJs, though they may require a larger deposit and will likely offer a higher interest rate than standard mortgages.
Yes, it’s possible to get a mortgage even with missed or late payments, but the impact on your mortgage approval will depend on how recent and frequent the missed payments were.
Lenders specialising in bad credit mortgages are often more understanding, but you may face higher interest rates or need a larger deposit to secure a deal.
Yes, you can still get a mortgage with a default on your credit file, but you may have to use a specialist lender.
Defaults signal to lenders that you may have struggled with payments in the past, so while approval is possible, you may be required to provide a larger deposit and could face higher interest rates to compensate for the perceived risk.
Mortgage lenders may still accept applicants with various credit issues, such as missed payments, defaults, CCJs, debt management plans (DMPs), and even bankruptcy.
Specialist lenders typically have more flexible criteria, and the extent of the issue—such as how long ago it occurred and whether it’s been resolved—will influence their decision.
Bad credit can reduce your eligibility for a mortgage with traditional high street lenders, but specialist lenders offer more lenient options.
The downside is that bad credit often leads to higher interest rates, larger required deposits, and stricter lending criteria, all reflecting the additional risk taken on by the lender.
Yes, it’s possible to get a buy to let mortgage Essex even with bad credit, but your options may be more limited.
Specialist lenders are often more flexible when it comes to adverse credit, but they will likely require a larger deposit, often 25% or more, and may charge higher interest rates due to the increased risk.
Yes, you can get a mortgage with bad credit if you’re self employed in Essex, but it may be more challenging.
Lenders will typically require at least two years of accounts or tax returns to prove your income, and bad credit will likely mean you’ll need a larger deposit and may face higher interest rates, but specialist lenders can offer tailored products to suit your situation.
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I cannot praise this team enough, they have been amazing. Especially Tom who went above and beyond to sort out my really complex mortgage and get me a deal which meant I could move to my new house. I would thoroughly recommend Essexmoneyman, they...
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I cannot praise this team enough, they have been amazing. Especially Tom who went above and beyond to sort out my really complex mortgage and get me a deal which meant I could move to my new house. I would thoroughly recommend Essexmoneyman, they...
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We shopped around trying to find the most suitable deal, should have come straight to Essexmoneyman, Nathan and Laura found me a perfect mortgage. When we had picked our product, they were speedy in ensuring they processed our applications quickly...
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We shopped around trying to find the best deal, should have come straight to Essexmoneyman, Nathan and Laura found me a perfect mortgage. When we had picked our product, they were speedy in ensuring they processed our applications quickly and taking...
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When attending your free initial mortgage appointment in Essex, it’s necessary to mention specifics regarding your earnings and outgoings to evaluate your financial capability.
You will also need to tell us about any credit problems you currently have or have had in the past. These are likely to show on your credit file, but it’s better to tell us from the start.
Despite the limitations that bad credit may pose, our aim is to search through 1000s of deals to locate the perfect deal for your situation.
Whilst we do this we can also secure an Agreement in Principle (AIP) for you. This document is important when making an offer on any properties as it shows that you have been pre-approved with the mortgage lender.
If you are happy with the mortgage product we have picked out for you, we can begin advancing to the mortgage application stage of the process.
From this point, you will be paired with one of our case managers who will be right by your side through the remainder of your journey.
After you have sent off your mortgage application, all that is left to do is to await the good news from the mortgage lender.
Here your mortgage advisor in Essex will also recommend insurances to ensure financial protection for you and your loved ones in a situation where you pass away or are unable to work.
We offer a free initial appointment in Essex, giving you the opportunity to explore your mortgage options with no obligation.
During this meeting, we’ll discuss your financial situation and provide personalised advice to help you take the next steps confidently.
Our mortgage advisors have access to thousands of mortgage products from a wide range of lenders.
This extensive search allows us to find the most suitable deal tailored to your unique circumstances, ensuring you get the most suitable rate for your needs.
We pride ourselves on delivering a customer-focused service, guiding you through the entire mortgage process from start to finish.
With our expertise and friendly support, we aim to make your mortgage journey as straightforward and stress-free as possible.
Our team is here to assist you 7 days a week, offering flexible appointments to suit your schedule.
Whether you need advice during the week or at the weekend, we’re always on hand to help with any mortgage-related questions you may have.
Having a County Court Judgment (CCJ) can make getting a mortgage seem out of reach, but it’s not impossible.
Some lenders specialise in mortgages for applicants with CCJs, considering factors like the amount of the judgment and how long ago it was issued.
Working with a mortgage broker in Essex like us can help you find lenders more open to these circumstances, helping you find the right mortgage deal.
A default on your credit file, whether due to missed payments on a loan or credit card, can impact your mortgage application.
While mainstream lenders might hesitate to offer you a mortgage, there are specialist mortgage lenders in Essex who take a more flexible approach.
By assessing the details of your defaults, such as how recent they are, these lenders can often provide suitable mortgage options, even with a poor credit history.
A low credit score can be a common issue for many aspiring homeowners.
This might be due to limited credit history, missed payments, or high credit utilisation.
Fortunately, some lenders in Essex focus on bad credit mortgages, looking beyond just your credit score to your current financial situation.
By getting mortgage advice in Essex, you can find lenders who are more likely to offer you a mortgage, regardless of a lower credit rating.
Being on a Debt Management Plan (DMP) in Essex can make securing a mortgage more complex, but it’s possible.
Some lenders are willing to consider applications from individuals with an active or recently settled DMP, focusing on your current financial stability rather than past credit issues.
They may review how long you have been on the DMP and your payment history to assess your mortgage suitability.
If you have multiple debts and are looking to consolidate them into one manageable monthly payment, a debt consolidation remortgage could be the answer.
Although adverse credit may limit your options, there are lenders in Essex who offer remortgage solutions specifically for debt consolidation.
By using the equity in your property, you can clear existing debts, potentially lowering your overall monthly outgoings.
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Essexmoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Essexmoneyman 2025.
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Essexmoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Essexmoneyman 2025.
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