Buy to let Mortgages bad credit including CCJs, Defaults and missed Mortgage payments – No Up front broker fees
If you are reading this article you have probably tried a Buy to let Lender and been turned down due to bad credit. The good news is mortgage brokers have access to a greater number of bad credit Buy to Let Lenders than the general public and we at Niche have helped many clients get a Buy to let Mortgages bad credit.
Buy to let Mortgages bad credit can fall into a number of camps in this article we are going to explore avenues for CCJs and Defaults. I will be writing other articles on missed mortgage payments and will place them on this website.
Buy to let Mortgages bad credit Lenders have different tolerances to CCJs and Defaults, and these can be grouped under the following assessment criteria:
- Individual and collective size of the bad credit
- Number of CCJ(s) or Default(s)
- Which company registered the bad credit
- When it was registered
- Reason for the CCJ(s) or Default(s)
- Whether the bad credit has been satisfied
The more extreme the combination the less chance of obtaining a mortgage. Furthermore the greater the deposit invested the more comfort the bad credit Buy to Let Lender will take.
How much can I borrow on a bad credit Buy to Let mortgage with a CCJ or Default?
The table below serves as a guideline. There are additional tolerances, depending on the bad credit Lender, such as they ignore:
- ‘Communications’ defaults.
- CCJs and Defaults under £250.
- CCJs and Defaults registered over 2 or 3 years ago.
Buy to Let Mortgage Bad Credit – As at 28th March 2017
Standard Rate Option
[ezcol_1third]Registered[/ezcol_1third] [ezcol_1third]CCJ or Default Amount[/ezcol_1third] [ezcol_1third_end]Minimum deposit[/ezcol_1third_end][ezcol_1third]3 months ago[/ezcol_1third] [ezcol_1third]1 of any amount[/ezcol_1third] [ezcol_1third_end]25%[/ezcol_1third_end][ezcol_1third]6 months ago[/ezcol_1third] [ezcol_1third]2 of any amount[/ezcol_1third] [ezcol_1third_end]30%[/ezcol_1third_end][ezcol_1third]12 months ago[/ezcol_1third] [ezcol_1third]1 up to £1,000[/ezcol_1third] [ezcol_1third_end]20%[/ezcol_1third_end][ezcol_1third]12 months ago[/ezcol_1third] [ezcol_1third]2 of any amount[/ezcol_1third] [ezcol_1third_end]25%[/ezcol_1third_end][ezcol_1third]18 months ago[/ezcol_1third] [ezcol_1third]3 of any amount[/ezcol_1third] [ezcol_1third_end]25%[/ezcol_1third_end][ezcol_1third]18 months ago[/ezcol_1third] [ezcol_1third]4 of any amount[/ezcol_1third] [ezcol_1third_end]30%[/ezcol_1third_end][ezcol_1third]24 months ago[/ezcol_1third] [ezcol_1third]Unlimited[/ezcol_1third] [ezcol_1third_end]20%[/ezcol_1third_end]
High Rate Option
[ezcol_1third]1 months ago[/ezcol_1third] [ezcol_1third]4 of any amount[/ezcol_1third] [ezcol_1third_end]30% purchases
35% remortgages[/ezcol_1third_end]
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OUR BAD CREDIT MORTGAGE PRICE GUARANTEE
At Niche Advice we guarantee not to charge for our advice on bad credit Buy to Let mortgages with CCJs or Defaults until the mortgage has successfully been completed and you have the key to the door. That’s right no upfront payment.
For more information on getting a Buy to let Mortgages bad credit please complete the online enquiry form under the Contact tab on this website or alternatively call us on T: 020 7993 2044.
