Our mission is to help everyone get the best mortgage they possibly can, even if they have an adverse credit history or a very poor credit rating. To help us understand how we could do this more effectively we looked at the top questions that our customers ask us (read Your Top Questions about Bad Credit Mortgages here).
We used the data to help identify what the most likely problems are for our customers with bad credit history and what we needed to know to help them get a mortgage more simply. We quickly concluded that the complexity of bad credit history and the large number of lenders we have access to meant that a simple bad credit mortgage calculator was never going to tell the full story.
This research helped us create the ultimate bad credit mortgage calculator; the “Bad Credit Mortgage Quiz”
Why did we do this?
There is a lot of misinformation online and various “urban myths” around a bad credit rating, what matters and what doesn’t, plus how much lenders actually know about people when they apply for a mortgage.
There are also a lot of online searches and customers trying to find a “bad credit mortgage calculator”. Although some sites do have these, they make assumptions about affordability and the bad credit history customers have. It’s also very difficult to go though all the detail required by a bad credit mortgage application using a bad credit mortgage calculator. This means those tools are really only showing a loan to value/income calculation. We wanted to be transparent and offer a more personal service.
The key to us being able to help all our customers, is that we get honest answers and feedback, and that we always ask the right questions. That way we are in a position to advise you whether it’s likely you’ll get a mortgage and what lenders are likely to consider your application.
The two overriding things that make a difference are: -
1. Your personal circumstances (or your joint application circumstances)
2. The lender we submit your application to
Personal Circumstances
This has the biggest impact on the likelihood of you getting a mortgage, you must tell us everything that’s relevant, we really need your entire credit history in detail. As an example: -
Lenders we work with
We work across the entire market and aren’t tied to any particular lenders or panel. This means that we regularly work with all the different lenders and fully understand the types of customers and the bad credit they will accept and what is likely to impact on acceptance.
The fact that we exclusively work with adverse credit customers means we know the best lenders to submit to at different times and what elements of your adverse credit history are likely to cause a problem. Ensuring we get the best lender and deal for your mortgage every time.
We are also fully qualified, regulated and experienced in second charge mortgages, which gives us an extra set of options in many circumstances for customers needing to remortgage or borrow more money.
Disclaimer
All content on the Simply Adverse website is believed to be accurate at the time of publication. However, this is a fast-moving sector and lender criteria and policies change regularly. For this reason, we always recommend that you speak to one of our brokers for the most up to date information.
Articles can only ever provide general information and do not constitute financial advice. Our mortgage brokers are fully regulated by the Financial Conduct Authority, and it is only by speaking to them that you will receive advice and information tailored to your individual circumstances. Your home may be repossessed if you do not keep up with repayments on your mortgage.
You should always think carefully, and seek professional advice, before securing other debts against your home or releasing equity from your home.
