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Bad Credit Mortgages

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 totally independent impartial bad credit mortgage advice from all schemes currently available in the bad credit mortgage market.

This means that we will use the whole of the bad credit mortgage market and are not tied to any one bad credit mortgage lender or limited panel of lenders – This ensures that we offer you the best bad credit mortgage that is currently available.

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.

We only charge a one off broker fee on successful completion of any bad credit mortgage arranged and this fee is only £594. 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 in last 12 months
(first time buyer & homeowner)
  1. 15% deposit required but restrictions apply: Minimum age 21, minimum property value £75,000 (£150,000 London), minimum sole income £15,000 & affordability based lending. Employed: Min 3 months in current job with 12 months continuous employment. Self employed: 1 years accounts
  2. More relaxed criteria with at least 20% deposit – Minimum age 21 or age 21 (£10k minimum income and property value £75k)
Default within last 2 years (first time buyer & homeowner)

Expect higher rates but minimum deposit 15%, minimum age 21, minimum property value £75,000 (£150,000 London), minimum sole income £15,000, and affordability based lending. Employed: Min 3 months in current job with 12 months continuous employment. Self employed: 1 years accounts

  1. Above mentioned 15% deposit scheme – 2 defaults in last 24 months & unsatisfied default allowed. Max £1,500 in last 12 months but unlimited thereafter
  2. Higher adverse schemes available with at least 25% deposit – 0 defaults in last 12 months but unlimited thereafter.
  3. Higher adverse schemes available with at least 40% deposit – 0 defaults in last 3 months but unlimited thereafter.
Defaults registered over 2 years ago (first time buyer & homeowner)
  1. 15% deposit required but restrictions apply: Minimum age 21, minimum property value £75,000 (£150,000 London), minimum sole income £15,000 & affordability based lending. Employed: Min 3 months in current job with 12 months continuous employment. Self employed: 1 years accounts
  2. More relaxed criteria with at least 20% deposit – Minimum age 21 or age 21 (£10k minimum income and property value £75k)
CCJ’s within last 2 years (first time buyer & homeowner)

Expect higher rates but minimum deposit 15%, minimum age 21, minimum property value £75,000 (£150,000 London), minimum sole income £15,000, and affordability based lending. Employed: Min 3 months in current job with 12 months continuous employment. Self employed: 1 years accounts:

  • 1 unsatisfied CCJ allowed within last 24 months (Max £1,000 within last 12 months or £2,500 within last 24 months)

Higher adverse schemes available with at least 40% deposit (Max £1,500 in last 2 years but 0 in last 6 months. 50% deposit allows a maximum of £6,000 in the last 2 years as long as 0 in the last 6 months.
CCJ’s registered over 2 years ago (first time buyer & homeowner)
  1. 15% deposit required but restrictions apply: Minimum age 21, minimum property value £75,000 (£150,000 London), minimum sole income £15,000 & affordability based lending. Employed: Min 3 months in current job with 12 months continuous employment. Self employed: 1 years accounts
  2. More relaxed criteria with at least 20% deposit – Minimum age 21 or age 21 (£10k minimum income and property value £75k)
Mortgage Arrears within the last 12 months
  1. Minimum 15% deposit, 1 missed payment in last 12 allowed (max status 3 within last 36 months), minimum age 21, minimum property value £75,000, minimum income £15,000 & affordability based lending. Employed: Min 3 months in current job with 12 months continuous employment. Self employed: 1 years accounts
  2. At least 50% deposit, maximum of 3 missed in last 12 months as long as no more than 1 in the last 3 months.
Discharged bankrupt
  1. Discharged > 2 years minimum deposit 30%, minimum age 25, minimum loan size £50,000, minimum income £25,000 but affordability based lending
  2. Discharged > 12 months minimum deposit 35%, minimum age 25, minimum loan size £50,000, minimum income £25,000 but affordability based lending
  3. Discharged from day 1, minimum deposit 50%, minimum age 18, minimum loan size £25,000, no minimum income but affordability based lending
IVA
  1. Satisfactorily conducted for 2 years – minimum deposit 30%, minimum age 25, minimum loan size £50,000, minimum income £25,000 but affordability based lending
  2. Satisfactorily conducted for 12 months – minimum deposit 35%, minimum age 25, minimum loan size £50,000, minimum income £25,000 but affordability based lending
  3. Satisfactory conduct – minimum deposit 50%, minimum age 18, minimum loan size £25,000, no minimum income but affordability based lending

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?

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Talk to Human

Call our specialist Bad Credit Mortgages advisors on 01604 330240 and we’ll call you back!

Complete Online Form

Complete Online Form

Complete our bad credit mortgages enquiry form, and we’ll call you back!