Some banks and mortgage brokers will make you feel like a bad person when they refuse to give you a mortgage. Automated online mortgage advisors won’t judge for themselves. It’s a case of: Bad credit = Computer says ‘No’. We don’t think that’s fair. So we’ve developed a solution.
Our platform uses a clever algorithm to match you to the perfect bad credit mortgage broker for your unique situation. Someone who’s up for the challenge, and has a proven track record of making bad credit mortgages possible for people like you.
Yes, you can absolutely get a mortgage with bad credit! When you apply for a mortgage, lenders run a credit check against your name to decide your level of ‘risk’. Lenders base all their decisions on risk - the more ‘risky’ you seem, the less likely they are to lend to you, as they’ll assume you’ll struggle to make your repayments.
Some bad credit issues will have a bigger impact on your chances of getting approved than others. For example, a late payment to your mobile phone company won’t affect you as much as defaulting on a loan or going bankrupt.
If a lender decides you’re a ‘high-risk’ borrower because of bad credit, you could:
Be asked to put down a bigger deposit
Be given a less competitive deal with a higher interest rate
Be turned down completely
However, there’s hope! High street banks and mainstream mortgage lenders have really strict criteria when it comes to who they'll lend to. Most of them aren’t set up to deal with you if your situation’s a little different from what they consider the ‘norm’. But by working with a specialist mortgage broker - who has expert knowledge of specialist lenders you can find a lender who knows how to deal with your situation, and is more likely to approve your application.
We don’t do the ‘norm’ at Haysto. We focus solely on the specialist mortgage space, and have great relationships with specialist lenders and a super track record of getting mortgages for people who thought they had no chance. If you’ve struggled with the high street or your bank’s turned you down, talk to one of our friendly advisors to find out your options.
Here’s a few frequently asked questions about bad credit mortgages.
We get how it feels when you’re refused a mortgage. We’ve been there. Haysto exists because the mortgage world is broken. If you don’t have a shiny credit rating, you’re self-employed with a complex income, or just don’t fit the mould, the odds are completely stacked against you. We just don’t think that’s fair.
Unlike others, we only work on bad credit, self-employed and complex mortgages. That’s all we do. And we’re up for a challenge.
No robots, no automated answers. We use technology to connect you to a real person. Not replace them.
We only get paid when your mortgage is approved.