Low Credit Score Mortgages

Low Credit Score Mortgage Livingston

Here at Lothian Mortgage Services the dynamic in customers we now deal with has changed significantly due to our ability to help those with credit problems obtain a mortgage. We pride ourselves on being a trustworthy ear to listen to your credit background and then offer reliable expert advice. We are not here to judge any of our customers, we are only here to help! We see a growing trend in new mortgage lenders who have entered the market to attract and help those who currently have a low credit score so may have already been rejected from a high street lender. With the right advice and guidance, you can obtain the best mortgage deal possible to help land your dream property.

Credit Score for Mortgage

A common question we are often asked is “what credit score do I need for a mortgage?” and it is just not as simple as that. The lender takes in numerous different factors into consideration before deciding if they are willing to lend to you. So instead of getting all worked up about just a number Lothian Mortgage Services are here to help you understand what needs to be worked on in order to obtain you the best deal possible. This all starts with a free no obligation discussion that you can arrange via email or by calling Ken directly on ​0131 215 1007.

Why is my Credit Score Low?

​ There are numerous factors that contribute to your credit score and below are some of the most common reasons on why yours is low. However, with the correct expert advice we can get a plan in place that will help to see that score rising. Common Reasons for A Low Credit Score:
  • Missing or late payments of bills or credit cards
  • Account has gone into minus
  • An increase in the amount of credit you are currently using
  • Opening a new credit source such as credit card, car finance, buy now pay later
  • CCJ (County Court Judgment) or IVA (Individual Voluntary Arrangement)
There are of course more factors but the ones above are the most common issues our customers face.

How to Improve Credit Score

Improving your credit score can be complex but with the team at Lothian Mortgage Services on your side it is something you can certainly achieve. We listen carefully to your credit history to work out exactly why you currently have a low credit score and work together to improve it. Here Are Some Quick Wins For Improving Your Credit Score For Getting A Mortgage:
  • Reduce the amount of credit your currently have
  • Pay all bills on time
  • Join the electoral roll to prove where you live
  • Close unused accounts that you no longer need / use
  • Look to avoid or resolve CCJ’s or IVA’s

Can I Get A Mortgage with A Low Credit Score?

The simple answer is Yes, with expert advice you can certainly get a mortgage with a Low Credit Score. We will always aim to improve your credit score as much as possible before going to lenders looking for large amount of credit. This is to get you the best deal possible on your mortgage and is important that you have time to work on your credit. However not everyone has time to work on their credit score but instead need a property for them and their family and we totally understand that. This is where our expert knowledge is vital as we find the best lender for your mortgage even with a low credit score.

Your Next Steps:

If having a low credit score has stopped you from obtaining a mortgage, we would love to hear from you. Our team of experienced mortgage advisors can provide independent and impartial mortgage advice that will help you move into that property you perhaps thought would only ever be a dream. We have a wealth of experience dealing with customers who have ​adverse credit so know best practice on how to obtain a mortgage while having a poor credit score. We start off the process by having a free no obligation chat around your current financial circumstances getting to the root of your low credit rating. From here we will be able to provide advise and information on what are your next steps. After this chat it will be 100% up to yourself if you would like to work alongside the team at Lothian Mortgage Services to get a mortgage.

Contact Lothian Mortgage Services!

Please do not hesitate to get in contact with or team today to discuss how you can obtain a mortgage while having a poor credit score. Our initial consultation is completely FREE and comes with no obligations after that. Call us today on ​​0131 215 1007 or via the ​contact form below.