Understanding Bad Credit

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At Central Mortgages we are in the perfect position to help people with bad credit find a mortgage that suits their specific needs and budgets. It can be hard to be rejected via traditional lenders, and for some people they might not even know to begin with that they have bad credit. We can help you find a bad credit mortgage, but how do you know if you have poor credit in the first place?


Most people have some sort of idea about their credit score and credit history. If you have been in loads of debt, missed payments, or you are regularly late in making repayments on loans, credit cards, or other forms of credit, it is likely that you’ll have an adverse credit score.


There are other, bigger, things that can warn you about your credit score being damaged. This could include bankruptcy, repossession of your property, or County Court Judgments (CCJs) against your name. These are all so hard to ignore that there is no way that you won’t know your credit score will be affected negatively.


Smaller things can have an impact though, such as the previously mentioned missed loan payments, or late credit card repayments. Another way to get poor credit is to only ever make the minimum suggested payment on a line of credit, rather than paying a larger amount of whenever you get the chance to. For some people, having no credit at all can also lead to an adverse credit score.


If you would like to find out more about bad credit mortgages and how Central Mortgages can help you find a solution your bad credit problem, contact us today on 01277 630 183 or email office@centralmortgages.net.