Mosaic Mortgages is authorised & regulated by the Financial Services Authority to provide regulated advice and arrange the mortgage most suitable for your specific circumstances. We are specialists in assisting those with a bad credit history and we provide bad credit mortgage advice from a wide range of products currently available in the bad credit mortgage market.
Whatever your circumstances – whether you have a bad credit history due to a CCJ or CCJs, mortgage arrears, rent arrears, missed or late unsecured loan and credit card payments or a default / defaults, we will offer advice and make a recommendation specific to your particular bad credit requirements.
How can we help?
We have access to many exclusive bad credit mortgages that would not be available even if you were able to apply directly to the bad credit mortgage lender (In fact, many of these specialist bad credit mortgage lenders will only accept applications from Mortgage brokers).
We pride ourselves on the exceptional service that you will receive and will take your bad credit mortgage from initial enquiry through to obtaining a decision in principle (if available), followed by submission of your bad credit mortgage application and then finally to successful completion of the mortgage.
Initial assessment of your circumstances and requirements is offered free of charge (including obtaining a decision in principle) and our broker fees will only become payable if you decide to go ahead with a full application. We will charge £99 on application to cover our costs of processing and £495 on successful completion of the mortgage. Any future bad credit remortgage advice given following completion is provided free of charge and our aim is to repair your bad credit history and remortgage you to a high street lender as soon as possible.
Bad credit history?
Don’t worry Mosaic Mortgages can help with the following circumstances:
| PROBLEM | HIGHLIGHTS OF THE LENDING CRITERIA AVAILABLE |
|---|---|
| Missed / late payments on unsecured credit within the last 12 months (first time buyer & homeowner) |
Typically, at least 10% deposit will be needed although 5% deposit may be possible subject to a satisfactory explanation |
| Default within the last 24 months (first time buyer & homeowner) | Some specialist lenders will ignore Telecoms defaults regardless of when registered or the amount. Assuming 1 satisfied default < £500 then 10% deposit is possible although more choice with at least 15% deposit |
| Defaults registered over 24 months ago (first time buyer & homeowner) | Typically, at least 10% deposit will be required |
| CCJ’s registered within the last 24 months (first time buyer & homeowner) | Assuming 1 satisfied CCJ < £1000 then 10% deposit is possible although more choice with at least 15% deposit |
| CCJ’s registered over 24 months ago (first time buyer & homeowner) | Typically, at least 10% deposit will be required |
| Mortgage Arrears |
1-2 in the last 24 months then applicant would need at least 10% deposit 3 in the last 24 months (0 in 12) would need at least 25% deposit Up to 3 missed payments within the last 12 months would need at least 30% deposit 4 in last 24 months (0 in 12) would need at least 30% deposit |
| Debt Management Plans | At least 15% deposit required |
| Discharged bankrupt |
Discharged 3years than applicant would typically need at least 20% deposit Day 1 discharge – 1 year discharged then applicant would need at least 30% deposit |
| IVA |
Satisfied at least 12 months then applicant would need at least 30% deposit Ongoing and conducted satisfactorily then an applicant will need at least 30% deposit |
Still unsure?
Looking for more information on Bad Credit Mortgages or to check your specific circumstances against the variety of bad credit mortgage schemes on offer?
Check your credit history
We recommend obtaining a copy of your credit file and ‘Check My File’ is the most comprehensive as it extracts your credit data from numerous credit reference agencies in one report, We can review the file with you to explain exactly what the various entries mean. Check My File is offered free for 30 days and then £14.99 per month thereafter and can be cancelled at any time. If you are thinking of applying for a mortgage then we recommend taking advantage of this service so that you can see exactly what a lender will see when you apply for a mortgage and they credit search you.
We will provide you with advice of how to improve your credit rating so that we can get you a High Street mortgage as soon as possible.
Please be aware that by clicking on to the above links you are leaving Mosaic Mortgages Ltd website. Please note that Mosaic Mortgages Ltd nor HL Partnership Ltd are responsible for the accuracy of the information contained within the linked site(s) accessible from this page.
Mosaic Mortgages may receive a commission for leads introduced to Checkmyfile.
