How can you improve your bad credit situation when seeking a mortgage?

[How can you improve your bad credit situation when seeking a mortgage?]( Call us on: [01473 356 284](tel:01473 356 284) [What to do now]( Make sure you’re registered on the electoral roll – this allows lenders to verify your identity and reduce the risk of identity fraud. It also proves stability of your address which proves to lenders you are financially stable. Request copies of your credit report from the three main UK agencies. Close any accounts you don’t use, such as store or credit cards. [What to do next]( Ensure you check your credit reports to ensure all information is accurate. If anything is incorrect, contact the agency to amend it. Create a realistic budget. You can do this by creating a list of all of your household incomes and outgoings to ensure you are able to stick to a budget. Organise and simplify the number of credit accounts you hold where possible [What to do going forward]( Give your monthly budget a regular check to ensure you have allocated enough to your outgoings. If you’re struggling monthly - add some more money in. If you have spare money monthly, open up a savings account. It doesn’t matter how much goes in, every little helps! Take a look at our [in-depth guide]( for more guidance on how to boost your chances of being approved. [alt_text]( [Use our free mortgage calculators below – no credit checks!]( [alt_text]( [Bad Credit Mortgage Calculator]( Fill out a few details to see if you are eligible for a Bad Credit Mortgage. [alt_text]( [Mortgage Affordability Calculator]( Complete your income details to give yourself an idea of how much you could borrow. [alt_text]( [Self-Employed Mortgage Calculator]( Our self-employed mortgage calculator will help you to see how much you could borrow. [Self employed mortgages FAQs]( Am I able to get a [self-employed mortgage with bad credit]( Getting any type of mortgage with bad credit can prove to be difficult. A way lenders will offset the increased risk is typically by offering higher interest rates – especially if the [bad credit]( event occurred in the past 12 months. To help get the best interest rate, look to get your accounts and personal tax returns in order and up to date. Furthermore, [our advisers]( are always here to provide any advice recommend lenders who are best equipped to help you. If I am self-employed, do I have a higher interest rate? If you are [self employed]( you typically will not have a higher interest rate, as long as you don’t have bad credit. There are moves that can be taken to secure a competitive interest rate: 1.Make sure your latest years accounts and tax returns are up to date 2. Save for a larger deposit if possible 3. Maintain a clean credit history Is it possible to get a [shared ownership mortgage]( if I am self-employed? As with any shared ownership mortgage - there are specific requirements, but this is possible. [Find out more here.]( [Contact us]( today if you have any further question on self-employed mortgages! [Speak to a member of our team]( Follow Us [alt_text]( [alt_text]( [alt_text]( [alt_text]( [01473 356 284](tel:01473 356 284) [justmortgagebrokers.co.uk]( Just Mortgage Brokers Limited is an appointed representative of Mortgage Advice Bureau Limited and Mortgage Advice Bureau (Derby) Limited which are authorised and regulated by the Financial Conduct Authority. Just Mortgage Brokers Limited. Registered Company number: 08389911. Registered office: 22-24 High Street, Needham Market, Ipswich, IP6 8AP YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT. MAY 2024 [Unsubscribe](