Residential & specialist
A credit problem does not always end the mortgage conversation
Missed payments, defaults, County Court judgments and debt arrangements can reduce the choice of mortgage lender, but they do not always make borrowing impossible. The outcome depends on what happened, when it happened, the amount involved, whether it has been resolved and the strength of the application today.
We will assess your complete circumstances, explain the available routes and recommend a mortgage that supports your wider plans. Your initial conversation is without obligation.
Why the detail behind adverse credit matters
A small communications default caused by a billing dispute may be assessed differently from recent mortgage arrears. A satisfied judgment from several years ago is different from an active debt arrangement. Lenders use different credit tiers and underwriting rules, so a declined application with one lender is not a universal decision.
Who this may help
We assist first-time buyers, home movers and remortgage clients with late payments, defaults, CCJs, payday-loan history, debt-management plans, IVAs, previous bankruptcy or repossession. We also help clients whose credit file is thin, contains errors or has been affected by a short-term life event.
What needs to be considered
- The type, date, amount and status of each credit event
- Whether the issue was isolated or part of a wider pattern
- Mortgage or rent payment history since the event
- Current unsecured debt and monthly commitments
- Deposit size and source
- Income stability and recent bank-account conduct
- Whether an IVA, bankruptcy or debt plan is completed or active
- Recent applications and hard credit searches
- The property type and requested loan-to-value
How ERG Finance approaches it
We review the credit reports and supporting explanation before recommending a lender or carrying out unnecessary applications. Where waiting, reducing debt or correcting a report is likely to improve the position, we will say so. Where a suitable mortgage is available now, we compare the rate, fees, early repayment charges and realistic future review options.
Prepare before applying
Obtain current statutory credit reports, check addresses and electoral-roll information, and identify the exact registration and satisfaction dates of any adverse entries. Do not conceal an issue or submit repeated speculative applications. If information is wrong, raise it with the relevant organisation and credit-reference agency before applying where possible.
Our role
- understand the purpose of the mortgage and the outcome you need
- check affordability, lender criteria and property requirements before recommending a route
- compare the rate, fees, flexibility, early repayment charges and overall cost
- prepare the application and evidence so the lender sees a complete and accurate case
- manage the mortgage process through valuation, offer and completion
Frequently Asked Questions
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Potentially. Lenders consider the amount, age, number, reason and whether the judgment is satisfied. Deposit and the rest of the credit profile also matter.
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Not in every case, but satisfaction can improve the options. Rules vary according to the age, value and type of default.
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Some specialist options may exist where the plan has been maintained for a required period, but choice and loan-to-value can be restricted. Full disclosure is essential.
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There is no single answer. Lenders apply different periods after discharge or completion and will assess conduct since the event.
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It can be. Pricing and fees often reflect the level and recency of credit risk. Older or less serious issues may qualify for more competitive terms.
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Possibly, if the credit record, affordability and market criteria improve. A future remortgage is not guaranteed, so the current product must remain suitable if that exit is delayed.
Speak to an advisor
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Time zone: United Kingdom (Europe/London)
Your consultation
A 30-minute telephone call with one of our advisers. Tell us a little about your situation and we’ll match you with the right person.
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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. Consolidating debt may reduce monthly payments but can increase the total amount repaid and place your home at risk. Think carefully before securing other debts against your home.