What steps should I take to get a mortgage after defaulting on a commitment? 

To improve your chances of getting a mortgage after having defaults recorded against you follow these simple steps:

  1. Deal with the default, this means contact the creditor to make arrangements to repay the debt.
  2. Improve your credit score by paying bills on time and reducing debts. Our bad credit mortgage specialists at Adverse Mortgage Advisors can help you understand your credit report and talk you through what you need to do to improve it.
  3. Save more for a deposit to show financial responsibility. Having a larger deposit reduces the lender’s risk. Lender’s love nothing more than borrowers has managed to save their own deposit.
  4. Get advice from bad credit mortgage specialists who can help find you the best lender for your circumstances.
  5. Look for lenders who work with people with bad credit.
  6. Gather documents showing your income and assets. Keeping good financial records shows responsibility and recording the steps you have taken to address any defaults will demonstrate financial stability to a potential lender.
  7. Be patient and persistent in your efforts to improve your financial situation and you will find lenders willing to offer you a mortgage on more favourable terms.
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