What steps should I take to get a Right to Buy mortgage if I have bad credit?

Here are simple steps to get a Right to Buy mortgage with bad credit:

  1. Check Your Credit: Look at your credit report and fix any errors, Adverse Mortgage Advisors can help you understand your credit score and how to fix any errors.
  2. Boost Your Credit Score: Pay bills on time and reduce debts to improve your credit.
  3. Save for a Bigger Deposit: Lenders will likely ask for a larger deposit when you have bad credit.
  4. Make sure you work with bad credit mortgage specialists to help research the best lenders who specialise in Right to Buy Mortgages for people with bad credit.
  5. Seek Advice: Adverse Mortgage Advisors are here to help you navigate the process.
  6. Show Stability: Provide proof of stable income and employment history.
  7. Be Realistic: Understand that you may need to pay higher interest rates during the initial fixed rate period.
  8. Know the Right to Buy Criteria: Understand the requirements of the Right to Buy scheme.
  9. Get Pre-Approval: Get your mortgage agreed in principle before applying to the council for your Right to Buy.

Following these steps can improve your chances of getting a Right to Buy mortgage even with bad credit.

Here at Adverse Mortgage Advisors, we understand your situation and the requirements of the lenders so we can help you to understand what is necessary to secure you the best mortgage for your circumstances.

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