Bad credit mortgage advice

What is a bad credit mortgage loan?

A bad credit mortgage is simply a mortgage for borrowers with a poor credit score, a low credit rating, or any other kind of adverse credit history.

Not all UK lenders offer bad credit mortgage loans, as credit issues are a bigger deal to some mortgage providers than others.

Can I get mortgage with a bad credit history?

Customers frequently ask us “can you get a mortgage with bad credit in the UK?” and the answer in many cases is yes. Although some mortgage lenders will turn you away if you have a poor credit history, some providers will base their lending decision on the severity of the credit problems, how long they’ve been on your file, and how closely you meet their other eligibility and affordability requirements.

What credit issues will a mortgage lender accept?

Some mortgage lenders (mainstream ones, in particular) might offer you unfavourable rates if you have any type of adverse credit on your file, while others may turn you away altogether. Specialist providers, however, often take a more flexible approach to mortgage customers with a bad credit score or a history of credit problems, and can offer a lifeline to those with any of the following…

• No credit history
• Low credit score
• Late payments
• Missed mortgage payments
• Defaults
• CCJs
• IVAs
• Debt management Schemes
• Repossessions
• Bankruptcy
• Payday Loans: Read about how they can affect mortgage applications here
• Customers with multiple credit problems