Offering comprehensive advice via specialist lenders and referral partners.
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Adverse Credit & Low Credit Score Solutions
As a whole of market broker, we have access to lenders who you may not be familiar with and who specialise in mortgages when other “high street” lenders may have declined to help. We know how specialist lending seeks to help disenfranchised customers who have been let down and ignored by mainstream lenders for too long. Done correctly, specialist lending is flexible, affordable and responsible.
In recent years, studies have shown just how difficult it has been for many households to maintain their financial commitments in the face of the cost-of-living crisis. Record numbers of people have struggled to pay their bills and missed payments and the total number of people with adverse credit is on the rise.
Many UK adults have experienced adverse credit at some point in their lives.
By taking a more personalised and holistic approach, LPR mortgage Services are working in partnership with specialist lenders who sit just off the high street to unlock opportunities for people who might otherwise be excluded from the market. These solutions help households navigate complex financial realities, maintain resilience, and ultimately pursue their financial ambitions.
As we continue to connect our clients with specialist lenders, the opportunity today to deliver better outcomes for consumers – and support the broader mortgage market – has never been greater.
Frequently Asked Questions on Adverse Lending
What is adverse credit?
Adverse credit is a term for negative information on your credit file that indicates past problems managing money. This can include missed or late payments, defaults, County Court Judgments (CCJs), Individual Voluntary Arrangements (IVAs), or bankruptcy.
How does adverse credit affect my ability to borrow?
Lenders use your credit report to assess the risk of lending to you. Adverse credit typically results in:
- Declined applications: Many mainstream high-street lenders have strict criteria and may decline your application outright.
- Higher interest rates: If approved, you will likely be charged higher interest rates to offset the perceived risk, leading to higher monthly payments and total costs over time.
- Fewer options: Your borrowing options may be limited to specialist lenders who work with individuals with poor credit histories.
- Larger deposits: You might be required to provide a larger deposit for a mortgage or a higher down payment for a loan.
How long does adverse credit stay on my credit file?
Most adverse credit information, such as CCJs, defaults, or bankruptcies, remains on your credit file for six years from the date the issue occurred. After this period, the information is typically removed automatically.
Can I get a mortgage or loan with adverse credit?
Yes, it is possible. While high-street banks may be reluctant, there are many specialist lenders who offer products designed for individuals with a less-than-perfect credit history. These “adverse credit mortgages” or “bad credit loans” have specific criteria, and working with a mortgage broker can help you find suitable options.
What can I do to improve my chances of getting credit?
You can take several steps to improve your creditworthiness over time:
- Check your credit reports: Regularly review your reports from the main UK credit reference agencies (Experian, Equifax, and TransUnion) for errors and dispute any inaccuracies.
- Pay bills on time: A consistent history of making timely payments is crucial.
- Reduce existing debts: Work towards paying off outstanding debts and keep your credit utilisation (the amount of credit you use compared to your total limit) low.
- Register on the electoral roll: Being on the electoral register helps lenders confirm your identity and address.
- Avoid multiple applications: Limit the number of new credit applications, as each leaves a mark on your file.
How do I know if I have adverse credit?
You might have adverse credit if you’ve been declined for loans, receive letters about missed payments, or are offered interest rates much higher than advertised rates. Checking your credit report is the most definitive way to know your status.
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