Nearly anyone can get a second mortgage. Gaining approval for a second mortgage is more difficult than getting a first mortgage, but is usually possible, but it is much more difficult for people with bad credit to be approved for a second mortgage. Bad credit occurs when someone has CCJs registered against them, have defaulted on a loan, or have been forced to declare bankruptcy, or have missed payments.

People with a tainted credit history must deal with the fact that many people will take the risk of loaning them money. In such cases, these people should probably hire a specialist or at least be informed by one on what they should do. Their options are quite limited and they have to choose the best one. Luckily, in such cases, specialized people can help such individuals. The current financial state of the person requesting the loan is analyzed to the most minor detail. This analysis allows the financial advisor to come up with the best solution possible to resolve the person