In short, yes it is possible to get a mortgage with a poor credit score/ adverse credit. However, specific details in regard to what has contributed to your poor score will be factored in to a lenders decision. In some extreme cases, you may need to wait for the adverse credit event(s) to be cleared from your file, which takes 6 years.
When you apply for a mortgage, lenders will assess the risks involved in the likelihood of you being able to keep up with loan repayments as agreed within the terms of your loan. The tool they use to assess this is your credit file, so if your credit file is displaying a poor score then lenders are going to view you as higher risk and are more likely to decline the loan request.
In regard to the broker fee, Need Financial Planning would charge you the same fee as a standard mortgage application (£495 for a purchase, £295 for a remortgage). However, if we had to approach a specialist lender due to the nature of your adverse credit, you should expect higher mortgage rates due to the higher risk which will impact your monthly mortgage payment.
Your home may be repossessed if you do not keep up repayments on your mortgage.
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