Name: Bad Credit Client With Defaults Successfully Finds New Home Through Willing Lender
Rating: 4.94 (156 reviews)

The client was a 62-year old sole applicant who approached Just Mortgage Brokers with the aim of purchasing new home but was worried about their age and credit history.
The primary goal for the client was to purchase a new home and make a fresh start for themselves
What was the size of the mortgage required and the LTV?
- The purchase price was £115,000
- The deposit amount was £11,500
- The loan to value percentage was 90%

The applicant had previously experienced financial hardship due to personal circumstances in 2020, leading to a multiple of defaulted accounts. Then went into an agreed Debt Management Plan to control these debts. Client managed to satisfy plan in January 2025 but of course, all the adverse still sat on file.
The key barrier here was affordability due to the client’s age, we needed to find a lender who would accepted employed income until retirement, along with current and future pension income.

Lender who specialises in adverse credit as well as maximising various sources of income.
To proceed with mortgage application once applicant was able to settle the Debt Management Plan in full, opening the door to various lenders with preferred rates.
The final deal achieved was a 5-year fixed mortgage at 6.09% with a longer term into retirement, which was discussed and requested by the applicant.
Satisfying the DMP allowed entries into the market for the applicant to put down a preferred lower 10% deposit, allowing additional funds to go towards legal fees and moving costs

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Bad credit client with defaults successfully finds new home through willing lender