Mortgages for Business is committed to keeping both our staff and clients safe during the COVID-19 outbreak while maintaining the best service possible. Our teams are working from home, but don’t worry, you can still contact us in the usual ways.
To read our comprehensive FAQ guide on how the emergency interest rate reduction and Coronavirus outbreak could affect your mortgage, please click here.
If you want to request a payment holiday, please contact your lender directly. For lender contact details, click here.

Have you got any advice about how I can improve my poor credit rating to get a mortgage loan?

When I was a student I was very careless with my money and I had problem with debt. As a result I have a very poor credit rating. Have you got any advice about what I could do to improve my rating so I could get a mortgage loan?

Credit scores generated by the reference agencies mean very little to a mortgage lender because they tend to use their own assessment system when reviewing your credit profile. That’s not to say you can’t improve the record. Make payments on time, in full if you can. Set up direct debits or standing orders to ensure that you are never late paying. Keep your credit card balance well within its limit, no more than 75% is ideal. And make sure you are on the voters’ roll.

NB: ANY PROPERTY USED AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

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