We have lenders for almost everyone
We try to help people regardless of their credit or financial circumstance. Our team of Bad Credit Specialists develop bespoke mortgage solutions that fit your budget and financial status. Don’t let bad credit hold you back from homeownership – contact us today to learn more about how we can help you secure a mortgage.
We can get you a mortgage even if you have one of the following:
- County Court Judgements
- Defaults
- Debt Management Plans
- Missed Payments
- Low Credit Score
We try to help people regardless of their credit or financial circumstance.
We can get you a mortgage even if you have one of the following:
- County Court Judgements
- Defaults
- Debt Management Plans
- Missed Payments
- Low Credit Score
How Getting A Mortgage with A Default Works
Watch the video below
Why Choose Us?
Specialist Advisers
Our mortgage advisers are specialists with in-depth knowledge of the whole market. They are able to look at a range of products available to them.
Customer Satisfaction
We have access to whole of mortgage market from residential, commercial and protection that means we can find the most suitable deals for you.
Lifetime Relationship
We like to think we are getting in to a lifetime relationship with you when we arrange a mortgage for you. It means we are committed.
Your Home is at risk if you do not keep up repayments on your mortgage or any other loan secured on it.
Are you eligible?
Details
Please note that the criteria are applicable to multiple adverse credit lenders. Specific terms and conditions may vary depending on the lender and the product chosen.
| Personal Details Guidelines | |
|---|---|
Minimum Age |
At least 21 Years Old |
Maximum age |
75 Years Old (at the end of the term. For joint applications, the age of the oldest applicant is used) |
Maximum number of applicants |
2 |
Guarantors |
Not Accepted |
First-time buyers |
Accepted |
Marital status |
Applications from married/civil partnership applicants must be in joint names |
| Applicant Criteria Guidelines | |
|---|---|
Maximum Allowable Adverse Defaults |
None in the last 6 months |
We may consider disregarding individual defaults (per application) up to and including £200.00 each, provided these defaults relate to utilities, communications, or mail order providers. | |
CCJs (County Court Judgments) |
None in the last 6 months |
Mortgage/Secured loans |
Arrears status of 0 in the last 6 months, none missed in the last 12 months |
Fixed Term Agreements |
No missed payments in the last 6 months |
Revolving credit |
Missed payments will be considered |
Bankruptcy Range |
Accepted when discharged more than 3 years ago |
Standard Range |
Accepted when discharged more than 6 years ago |
Payday loans |
Accepted if the account has been closed for more than 12 months |
Repossessions |
Accepted if repossession occurred more than 6 years ago |
Debt Management Plans |
Due to the complexity, it is advised to speak to a broker for specific details |
Details
Please note that the criteria pertain to nationality and residency requirements. It is essential for all applicants to have a residential address history of at least 3 years in the UK. Visa requirements are subject to specific conditions, and at least one applicant must have indefinite leave to remain. Additional applicants must have either indefinite leave to remain or the right to reside with an acceptable visa type. Visa validity should be at least 12 months. Applicants with visas lacking indefinite right to remain will not have their income considered for affordability purposes. Please be aware that diplomatic immunity is not accepted.
| Residency Criteria Guidelines | |
|---|---|
Residential status |
3 years UK residential address history required for all applicants |
Visa Requirements |
|
Diplomatic Immunity |
Not Accepted |
Details
Please note that the income criteria apply to applicants. For employed individuals, specific requirements regarding job tenure, payslips, and contract terms must be met. Self-employed individuals must provide relevant financial documents, including accounts and bank statements, depending on their business structure. Retired applicants may submit private pension details. Income from foreign currency is not accepted, and a minimum earned income threshold of £18,000 per application is required.
| Income Criteria Guidelines | |
|---|---|
Minimum Earned Income |
£18,000 per application |
Foreign currency | Not Accepted |
Diplomatic Immunity | Not Accepted |
| Self Employed & Retired Criteria Guidelines | |
|---|---|
Self-Employed: Limited Company | |
LTD Criteria |
|
Self-Employed: Sole Trader/Partnership |
|
Retired | Private pension accepted |
Employed Criteria
• Minimum of 3 months in current job with 6 months’ continuous employment
• Day rate contractors accepted subject to being in a contract and able to demonstrate a minimum 12 months history. Calculate the income as the lower of 12 month average day rate amount or current contract day rate x 5 (days per week) x 46 (working weeks)
• Contract employees considered provided 12 months employment with the same employer together with confirmation the contract will be renewed
• 3 months payslips (or 6 weeks where paid weekly)
• Applicants in a probationary period not accepted
• Zero hour contracts acceptable if a permanent position with 2 years+ at same employer and stable income levels
• Income from seasonal/temporary work not considered • Directors with a shareholding of 25% or more will be underwritten as self-employed
| Income Type | Proportion Considered | |
|---|---|---|
Basic Salary |
100% | |
Car Allowance |
100% | |
Bonus |
50% | |
Overtime |
50% | |
Commission |
100% | |
Details
Please note that the income criteria apply to applicants. For employed individuals, specific requirements regarding job tenure, payslips, and contract terms must be met. Self-employed individuals must provide relevant financial documents, including accounts and bank statements, depending on their business structure. Retired applicants may submit private pension details. Income from foreign currency is not accepted, and a minimum earned income threshold of £18,000 per application is required.
| Loan Guidelines | |
|---|---|
Maximum LTV |
|
Maximum term |
35 years |
Minimum term |
5 years and 1 month |
Minimum loan |
£25,001 |
Maximum loan |
|
Remortgage applications | Accepted where applicant has been the registered owner for the last 6 months at application |
Repayment |
|
Offer Validity |
90 Days |
Application Validity |
45 Days |
Let To Buy |
Accepted |
Right To Acquire |
Not Accepted |
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Feel free to ask Us any question
BSL has helped many people rebuild their lives, so why not be another success story? Take the first step towards financial freedom, contact us today!
- 75 King William Street, London, EC4N 7BE
- 0208 314 5658
- Mon - Fri: 9:00am - 5:30pm
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