Getting a mortgage feels like an uphill battle at the best of times, but it can feel almost impossible when you’ve had financial and credit issues in the past. That’s where specialist mortgage brokers like Adverse Mortgage Advisors come into play.
They can connect you with appropriate lenders while supporting your application, helping give you the best possible chance of an approval. At least, that’s what they claim they do, and it’s always worth knowing what you’re doing ahead of time before making a decision.
Let’s get into an Adverse Mortgage Advisor review to see whether it’s actually worth using.
Who Are Adverse Mortgage Advisors?
Adverse Mortgage Advisors is a UK-based specialist mortgage brokerage that focuses on helping people with less-than perfect credit scores obtain mortgages. Unlike many companies that focus on traditional mortgages, the firm specialises in cases that high street lenders often deny.
This includes applicants with:
- County Court Judgements (CCJs)
- Defaults
- Missed Mortgage Payments
- Individual Voluntary Agreements
- Previous Bankruptcy
- Self-Employed Applicants
- Complex Income Situations
It works with a panel of specialist lenders instead of relying on high-street banks, while still working under FCA authority and regulations.
Who They Work With
Adverse Mortgage Advisors is clearly designed for borrowers who don’t fit the traditional lending model. Its services might best be suitable for:
- First-time buyers with poor credit
- Homeowners trying to remortgage
- Self-employed applicants with complex incomes
- Contractors
- People rebuilding their credit histories
- Applicants who’ve been declined elsewhere
This specialist approach is one of the first biggest selling points. Instead of treating bad credit as an automatic rejection, it takes the time to understand an applicant’s circumstances.
But, that still begs the question as to whether it’s worth using. Let’s get into our Adverse Mortgage Advisors review.
Adverse Mortgage Advisors Review: Is the Specialist Mortgage Provider Worth it?
Overall, Adverse Mortgage Advisors fills an important gap in the UK mortgage market. Many mainstream lenders rely heavily on automated credit scoring. Specialist lenders, however, often review applications manually and consider the full circumstances behind an applicant’s financial history.
The firm’s expertise lies in understanding these lender criteria and presenting applications in the strongest possible way. It also places a significant emphasis on education, with guides covering bad credit mortgages, contractor mortgages, CCJs, and other complex areas.
While no broker can guarantee mortgage approval, specialising in adverse credit cases gives the company a clear advantage for borrowers who’ve already been turned away elsewhere.
Pros:
- Genuine Specialist Expertise – Unlike many mortgage brokers, adverse credit isn’t one of the firm’s many services. It’s the firm’s primary area of expertise.
- Access to Specialist Lenders – The brokerage works with lenders that many consumers can’t approach directly, increasing the chances of approval.
- FCA Regulated – The company operates under FCA regulations, providing reassurance mortgage advice is delivered to a professional standard.
- Educational Resources – Its website contains countless guides and educational resources to help clients better understand their circumstances.
- Free Initial Eligibility Check – Prospective clients can complete a quick online questionnaire to see whether they qualify before starting the full process.
Cons:
- Specialist Mortgages Can Cost More – Borrowers can increasingly face higher interest rates than they’d see with other types of mortgage.
- Rates Depend Entirely on Circumstances – The company doesn’t publish interest rates, making it difficult to figure out what kind of rates you can expect.
- Not Ideal for Straightforward Application – If you have a clean credit history and simple income, this mightn’t be the best option to go for.
Application Process
One area where Adverse Mortgage Advisors seems to shine is with the application process. It looks to be a lot simpler and more straightforward than many other providers, with the process generally following the same steps. These include:
- Complete the online eligibility questionnaire.
- Speak with a specialist mortgage advisor.
- Review your credit history and financial circumstances.
- Gather supporting documentation.
- The advisor recommending suitable lenders.
- Your application being submitted.
- The advisor supporting you through underwriting and completion.
Instead of submitting applications to multiple lenders and risking unnecessary credit searches, the advisor helps to identify lenders that are most likely to approve your case before applying.
This targeted approach can be particularly valuable for applicants with complex credit histories.
Rates and Terms
Mortgage rates can vary significantly from lender to lender, and even from applicant to applicant. Because of that, the exact rates and terms you’ll get can vary wildly. This depends on multiple factors, like:
- Credit history
- Deposit size
- Income
- Property value
- Loan-to-value ratio
- Type of adverse credit
- Time since financial issues
Adverse Mortgage Advisors doesn’t advertise fixed interest rates because its specialist lending is highly personalized. This could make it difficult to check out ahead of time, and it could be a bit of a negative for more than a few potential applicants.
Borrowers with recent defaults or CCJs could end up paying more than those whose financial issues happened more than a few years ago. And, people with larger deposits could get better interest rates.
The brokerage states its goal isn’t just to secure approval, but also to minimise unnecessary borrowing costs by matching them with the most suitable provider. Just be prepared for a large difference in potential interest rates.
Customer Service
Customer service is a noticeable area where Adverse Mortgage Advisors does well. Clients receive support throughout the entire process, with advisors handling communication with lenders and helping prepare documentation.
The company’s also committed to maintaining long-term relationships, positioning itself as an ongoing advisor for future remortgages or improving a client’s financial position over time instead of treating every applicant as a one-time transaction.
Final Thoughts
While using specialist mortgage brokerages can come with its negatives, Adverse Mortgage Advisors seems to be one of the better picks in the industry. It works with a great selection of specialist providers while offering a lot of support and help throughout the process.
There’s no guarantee they’ll help you get a mortgage, especially not one with amazing interest rates, it could improve your chances quite a bit. It seems like a solid option to go for in certain instances.