How to get a mortgage if you have bad credit

If you have had a bit of a rocky credit history, getting a mortgage may seem like an impossible task. You don’t just need a decent income or a big deposit anymore. If you do have a less than perfect credit score, you are likely to be refused. But don’t fret, there are other ways to get around it, just look at our tips below.

Credit Score

First of all you need to assess the damage.

If you don’t know where your credit score stands, you can go to certain websites like Experian which will give you your current rating. They will also show you where money is still owed.

• Excellent Credit: 781 – 850
• Good Credit: 661 – 780
• Fair Credit: 601 – 660
• Poor Credit: 501 – 600
• Bad Credit: 500 and below

Every mortgage company will be different sd to what they accept as ‘good’ credit, but it would be better if you started off in the ‘fair credit’ bracket. The higher your credit score the more likely you will be accepted.

You can still get a mortgage if your credit history is in a lower bracket but you need to make sure you can afford the monthly mortgage payments. Try and pay everything you owe before stepping onto the property ladder.

Building it back up

There are many ways you can build your score back up. Making sure you pay off your credit cards and any store cards that you have would be a good place to start. It might be tough at first, but once it is paid off it will be a weight off of your mind.

• Stop applying for any more credit in the meantime.
• Cancel any credit cards that you don’t use.
• If you aren’t already, register to vote.

Speak to a broker

Just because your credit score is in the negative range, doesn’t mean you aren’t eligible to get a mortgage. Just speak to an independent mortgage broker who should be able to advise you on the best route to take.

A mortgage broker is the middle man between you and your lender. They will try and find you the best possible deal on your mortgage and will be able to advise you about the appropriate road to take.

There is obviously a charge to use a broker but it may be the best option to take as you might not be able to go through a bank to obtain a mortgage.

Don’t worry

You have to remember that sorting out your credit history may take a while. You need to try and stay on top of your payments. If you have a lot of outstanding debt it might be worth speaking to a company which can help you. You can hire a company who will supply you with a DMP (debt management plan). By doing this, they will take care of all your creditors and all you have to do is give them a monthly payment and they will split the money between each creditor. Whatever your financial situation, speaking with a professional is the best thing to do and they will be able to find the best solution for you.

Alex Evans

You May Also Enjoy

small house bird box
Breaking News

UK First Time Buyers better off than many other global nations

Is it really that bad being a first-time buyer? UK better off than many other global nations when it comes to affordability The latest market analysis from Yopa, the full-service estate agents, reveals that first-time buyers (FTBs) in the UK may be paying 63% more to get a foot on the property ladder than they…
Read More
new build homes colchester essex
Breaking News

Building Safety Regulator Reform

The Government has announced reforms to the Building Safety Regulator, including leadership, process and investment. The changes are hoped to deliver 1.5 million homes. The reforms pave the way for creation of a single construction safety regulator, as recommended by the Grenfell Tower enquiry. David Smith, property litigation partner at London law firm Spector Constant…
Read More
Breaking News

New anti-money laundering rules now in effect: what landlords need to know

New anti-money laundering (AML) rules came into effect this month, marking a significant change for landlords and the lettings industry as a whole. The new rules mean financial sanctions checks are now required for all lettings, regardless of how much rent is charged. Here, Steve Bond, managing director of residential lettings for Beresfords, explains what…
Read More
Breaking News

What landlords need to know about the upcoming Renters Rights Bill

The government’s long-awaited Renters Rights Bill is one of the most significant overhauls of the private rental sector in decades. While it has not yet received royal assent, the legislation is expected to come into effect late this year, or early in 2026. With the bill moving closer to becoming law, Steven Bond, managing director…
Read More
Breaking News

Mortgage approvals bounce back in May

The latest figures show that: – Mortgage approvals on house purchases for May sat at 63,032 up 3.9% from 60,656 in April. The monthly increase seen in May marks the end of four months of previous decline, with approval levels having fallen each month since January of this year. Approvals are also 2.5% higher than…
Read More
Breaking News

Money and Credit – May 2025

Key points: Net borrowing of mortgage debt by individuals increased by £2.8 billion to £2.1 billion in May, following a large decrease in net borrowing of £13.8 billion to -£0.8 billion in April. Net mortgage approvals for house purchases increased by 2,400 to 63,000 in May. Approvals for remortgaging also increased by 6,200 to 41,500…
Read More