Expert First Time Home Buyers with Bad Credit Advice & Products
Let us put you in touch with one of our mortgage experts who will give you impartial advice and help you find suitable first time buyers mortgage products for you even when you have a bad credit score.
No credit search conducted
Working with leading lenders ...
We work with high street and other lenders so you’ll get access to some the best deals that you may be able to apply for.
Why use us?
From the information you provide to us, our experts will search the market and find the most suitable products for you. If you are happy with the product on offer, we will handle all the necessary paperwork for you, including any relevant applications, to ensure that everything runs smoothly for you.
From just a few minutes completing some basic information, we will quickly search for suitable financial products for you.
We’ve helped thousands of customers secure financial products and service so you know that you are in capable hands.
Reduced stress & time saving
Choosing the right financial product is time consuming and can be stressful, so remove much of this by putting it in the hands of one of our financial experts.
Whatever type of financial product or service you are looking for, our service is reliable and always matched to your own personal circumstances.
First Time Home Buyer with Bad Credit
Getting the keys to your own home for the first time is an incredible feeling, especially after all the hard work that will have gone into obtaining the mortgage to buy your first property. Every first-time buyer will need to go through the same process of saving up a reasonable deposit, working to put yourself into a position of having a sufficient regular income to set aside the budget for your monthly repayments, and getting your finances organised in the initial stage so you can confidently approach a lender and show them that you are a reliable borrower. When you are trying to do all of this with bad credit it can seem all the more daunting and unattainable, but this is not the case.
If you are a first-time buyer looking to apply for your first mortgage with bad credit, you may need some extra help and knowledge to support your application and convince a lender that you are a reliable borrower. Speaking to one of our specialist advisers at Finance Advice Centre will help you get all the guidance you need in finding the right lender for your circumstances and the most suitable mortgage product, as well as helping you through the application process itself. With the help of our team on your side the chances of your application getting accepted could increase significantly.
Whether you’re looking for Mortgage Advice, Loan Advice or Insurance Advice or any other financial product or service, we can help you…
“Did a great job helping us with our mortgage. I would recommend!”
So ... how can we help?
Buying a financial product such as a mortgage can be the biggest decision made in our lives. It is for this reason that impartial advice is critical from qualified advisors.
Getting a first-time mortgage with bad credit
For a first-time home buyer with bad credit, everything will come down to your exact circumstances including, your income, outgoings, property value, the nature of the bad credit, how much you are looking to borrow from the lender, and how much you can afford to pay back in monthly repayments. Maybe you have had to deal with missed payments or a CCJ, or you might have a bad credit score from simply having little to no credit history at all.
Achieving a successful mortgage application under these circumstances can be difficult, and success is certainly not guaranteed, but our advisers have helped several first-time buyers get the bad credit mortgage they need to get their feet onto the property ladder. Our team has extensive experience and can offer you a tailored service of personalised advice and guidance on the steps you can take to improve your credit status, and frame your application in the most positive way possible.
Specialist providers are considerably more flexible with their lending criteria than their high street counterparts and will take a lot more information into account than just the figures on a credit report, or the instance of bad credit when looking at your application. They will make their decision on whether or not to offer you a mortgage mostly based on the severity of the bad credit event, the amount involved in the debt, and the amount of deposit the applicant is able to put down, as well as putting more weight on how your financial situation is currently.
Seeking advice as first-time home buyers with bad credit
Trying to navigate the mortgage market and weigh up all the possible options that are open to you can take up a lot of time, energy, and stress even when you have a good credit history. Adding the element of bad credit into the mix makes things more complex as many of the traditional routes to a mortgage could become unavailable to you. It is frustrating to not be able to find the right solution and continually find yourself hitting dead ends.
This is where professional advice from an expert adviser at Finance Advice Centre providing an outside perspective can be really beneficial. We can suggest and connect you with lenders that operate in the bad credit sector of the market and can cater specifically to people who fall outside of the mainstream criteria.
Where to start?
Get advice from a financial mortgage advisor who specialises in bad credit mortgages. We have experience and expertise in complex and different cases and can find the best lenders for your circumstances. We can also advise you on how to manage your credit while you are planning to apply for a mortgage and buy your first home.
You can still take advantage of a number of first time home buyer programs with bad credit. Your advisor can help you understand each one, your eligibility, and how to use them.
What types of mortgages are available to first time buyers?
Help to Buy Equity Loan
This is a great loan for people with bad credit. It helps people with small deposits or limited affordability to purchase their home by offering a 20% equity loan when the buyer provides a 5% deposit.
Another good way of getting onto the property ladder is to get a shared ownership property. Shared ownership works by letting you purchase a share of the house while renting the other portion. As your credit score grows and you become more financially secure you can “staircase” and purchase the remaining share of the property. 100% mortgages are available for shared ownership, meaning you won’t need to put down any deposit at all.
Help to Buy
There are different types of Help to Buy schemes available. Although these require you to put away savings, they can offer great returns, and if you are only just starting out in your house search then your advisor will be able to help you choose a scheme and use it as best as you can. This can be especially helpful if you have bad credit from a few years back but are more financially stable and able to build up a bigger deposit.
As a mortgage is secured against your property, it may be repossessed if you do not keep up the mortgage repayments. Think carefully before securing other debts against your home.
Our approach - and how we do it
We love speaking with our clients. Either give us a call or fill in one of our contact forms. Remember, we love a challenge!
One of our Advisors will then find out what you’re looking to do, discuss your options and answer any questions you may have.
Your Advisor will find the best option for you and help arrange things. You then sit back and relax while we do the rest.
Ready to assist you.
Choosing a financial product or service, such as a mortgage, remortgage, loan or insurance can be daunting and your choice is a decision you need to get right. For this reason, it is vital that you get impartial advice from competent and qualified advisors. Whether you are a first-time buyer, looking to remortgage, hoping to remortgage or even buy a property to let, needing a loan or insurance this is where our advisers excel.
Be reassured that our aim is to guarantee reliable financial advice appropriate to any individual that makes contact with us. Through our network of contacts, we have access to thousands of financial products, from mortgages to loans to insurance, so we are confident that we’ll find one to suit you.
See what our customers think ...
I would highly recommend the mortgage advice service Alice Hale was amazing throughout she is a credit to your organisation and helped us secure our dream home
We had a long journey buying our first home together and recent pandemic events didn’t help matters. Every step of the way, our advisor Steve was supportive, positive and we had every confidence in him. He was able to arrange a good deal for us and we were able to move into our dream house this autumn.
I used George from the finance advice centre to get my mortgage, and he was nothing but amazing! Talked me through every step, always easy to get hold of ! And got me a brilliant product I would highly recommend him, just brilliant 5 stars from me
What a Fantastic Service from start to finish. Great customer support from Ben Patten & Joe Frayne, superb product knowledge and exceptionally responsive to emails/calls, we can 100% recommend the Finance Advice Centre Ltd , they got us a great deal on a mortgage with suited life insurance, especially during this very difficult Covid 19 time ……
From start to finish, Greig and Emily were very helpful with our mortgage application. The advice Greig gave us was very clear and informed. They were always available either by phone or email to answer any questions we had. The whole process was made a lot easier because of the work they did. Would thoroughly recommend
Let us do the work of finding your mortgage
We’ll put you in touch with impartial advice from an expert mortgage advisor who will help secure you the best mortgage deals available.