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Getting a mortgage
with bad credit

It’s no secret that getting a mortgage with bad credit can be more difficult as lenders use your score to assess whether you’re a risk worth taking.

Fortunately, despite having a lower credit score, there’s still plenty of options that enable you to obtain the keys to your own home.

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    WHY CHOOSE UKMC FOR HELP GETTING A MORTGAGE WITH BAD CREDIT

    When you have bad credit, finding a suitable mortgage deal can feel impossible, but at UKMC, we have access to thousands of products, making the road smoother to home ownership.

    Our expert mortgage advisors have supported many individuals with poor credit on their journey to becoming homeowners, so why not arrange your consultation today to discover how we can help?

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    What is a bad credit mortgage?

    Wondering how getting a mortgage with bad credit works?

    Every lender conducts a credit check or search to ensure a potential borrower meets the criteria for a mortgage product they’re applying for. Without one, a lender has no way of knowing if an individual qualifies.
    A poor credit score can indicate to mortgage lenders that you’ll struggle to repay the loan as your score will decrease following an increase in debt, bankruptcy, missed payments, or repeated credit searches.

    As a result, bad credit can affect a mortgage application as you may be denied the loan amount you need to buy your chosen property. Alternatively, you may be presented with mortgage deals that have higher interest rates, or be asked to put down a bigger deposit.

    On the other hand, if a borrower has bad credit, a lender can use a credit check to help identify an appropriate product because they’ll have a better understanding of the risk involved.

    However, it’s important to understand that a successful application isn’t solely determined by your credit score; lenders will take into account other aspects of your application as well as your individual circumstances.

    THINGS TO CONSIDER

    No minimum credit score
    You don’t need a specific or minimum credit score to be accepted for a mortgage as lenders will also take into account your monthly income, outgoings, and the size of your deposit to determine whether they’re willing to lend you the money to buy a property.

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    WHAT ARE THE RISKS

    Higher interest rates
    Lenders may present you with mortgage deals that have higher interest rates in order to protect themselves, meaning you’ll usually pay back more over time.

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    WE SEARCH 1000s OF PRODUCTS TO FIND THE BEST DEAL FOR YOU!

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    faqs

    Can you get a mortgage with a credit score of 550?

    How much debt is acceptable for a mortgage in the UK?

    How far back do mortgage lenders look at credit history in the UK?

    Can mortgage lenders see CCJs after six years?

    What should you not tell a mortgage lender?

    Why choose UKMC for support getting a mortgage with bad credit?

    When you have bad credit, it’s important to contact a mortgage advisor that will take the time to understand every aspect of your application to ensure you have access to the best mortgage deals for you. To learn more about how we can help, feel free to complete our call back form today!

    Thanks to our down-to-earth approach and expert advice, we’ve amassed more than 400 positive reviews on Trustindex!

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      *Data Protection - Any information given will be treated as confidential and be accessible only within UKMC

      How to apply for a mortgage when you have bad credit

      Contact an experienced mortgage advisor

      With the right mortgage advice, like the guidance provided by the knowledgeable team at UKMC, you can discover mortgage lenders and deals that are appropriate for mortgage applicants with bad credit.

      Seeking professional support from a reliable mortgage advisor can also give you access to exclusive mortgage deals and help you to accurately complete crucial paperwork, so why not book your UKMC consultation today?

      Other options for you include:

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