Bad credit mortgage

How to get a mortgage with bad credit

Getting a mortgage with bad credit

A bad credit mortgage helps people with adverse credit or a low credit score to buy a property. You will generally need to use a specialist mortgage lender to secure a mortgage and will likely have to pay a higher rate of interest. But if you have a large deposit or a good income, you may be able to obtain a more competitive deal.

Adverse mortgage lenders tend to take a more flexible approach to their lending and unlike many of the High Street banks, will base their decision on the age, gravity, and cause of your credit issues as opposed to just your credit score.

By seeking specialist mortgage advice from our bad credit mortgage advisors, it is possible to obtain a mortgage, even if you have been declined in the past.

As a specialist mortgage broker, we work closely with a range of bad credit mortgage lenders who help people with adverse credit to get moving. To help you secure the best deal for your needs, we take the time to understand your circumstances and only recommend a mortgage product, if you meet the lender’s criteria.

We know how stressful getting a mortgage can be and to assure you, we not only manage your entire application to ensure it is a complete success. But also keep you regularly updated on your progress and answer any questions you may have along the way.

If you think a bad credit mortgage could help you to move forward with your plans, get in touch and speak to one of our experts!

  • Can you get a mortgage with bad credit?

    If you have had missed payments, defaults, county court judgments (CCJ), payday loans, an individual voluntary arrangement (IVA), debt management scheme, or been made bankrupt in the past six years, getting a bad credit mortgage is still possible. The options available to you will be based on the severity of your credit problems, the date they were first registered on your credit file and if you meet the lenders’ criteria.

    If you have a poor credit history, many High Street banks will be unlikely to lend to you. However, specialist mortgage lenders are more lenient and will gladly consider your mortgage application. They may ask for a larger deposit and charge a higher interest rate. But if you keep up your repayments, you should be able to remortgage to a better deal when your current mortgage expires.

  • Applying for a mortgage with bad credit

    Using a specialist broker to help maximise your chances of securing a mortgage, is advisable when applying for an adverse credit mortgage. They know each lenders’ criteria, which could help you to avoid having any declined applications on your file, if you need to work on improving your credit before you can get a mortgage.

    At Fosters Financial, our bad credit mortgage brokers take the time to understand your individual circumstances and only apply for a mortgage on your behalf, if we think your application has a good chance of being accepted by the recommended lender. If we cannot help you, we will tell you how you can improve your credit score, so you can increase the chances of your application being approved in the future.

  • Remortgaging with bad credit

    If you have missed payments or found yourself in financial difficulty since applying for your last mortgage, your options will generally be more restricted. But remortgaging with bad credit is certainly possible with our help.

    With access to exclusive deals which cannot be obtained on the High Street or comparison sites, our adverse mortgage specialists will search the whole of the market to find the best bad credit mortgage deal for your needs. Similarly, if your current mortgage is with a specialist lender and your credit rating has improved, our poor credit advisors can help you to discover whether it is possible to remortgage with a High Street lender or not.

  • Bad credit first time buyer mortgage

    If you are applying for your first mortgage and have bad credit, seeking professional advice is certainly worthwhile. As a first time buyer, you will generally be considered a higher risk by mortgage lenders, and any adverse credit on your file will significantly decrease the number of lenders who would be prepared to lend to you. If you are also struggling to save a large enough deposit and are looking to buy a home through a government initiative like the Help to Buy scheme, the number of lenders available to you diminishes even further.

    Using a specialist mortgage broker like Fosters Financial, can help you to secure a first time buyer mortgage with poor credit. With access to adverse mortgage lenders who cannot be found on the High Street, they could help you to secure a mortgage, even if you have been previously turned down.

  • Shared ownership mortgage bad credit

    The Shared Ownership scheme was introduced by the government to help people who cannot afford to buy a home to purchase a share in one. As most lenders will automatically see you as a risk, securing a shared ownership mortgage with poor credit can be difficult. But a whole market mortgage broker will have access to a range of specialist mortgage lenders who would be willing to consider your application, which is where we can help!

  • Right to buy mortgages with bad credit

    Having adverse credit such as CCJs, defaults or missed payments, can make obtaining a Right to Buy mortgage more difficult. Many high street lenders will see you as too much of a risk to lend to. But there are a growing number of specialist mortgage lenders who will take the time to look at your file, before making their assessment. If you meet their criteria and can prove that you can afford the mortgage, then they should be more than willing to lend to you, which a right to buy mortgage broker like us can help you with.

Specialist mortgage lenders

Find the right mortgage for your needs
Start today

We have helped hundreds of people just like you!

Verified
Thank you Joanna for such a lovely experience! Joanna was so helpful and efficient at keeping us informed throughout the process of getting our mortgage approved. We would highly recommend Joanna and the team.
Emily-Jane Lowe
Emily-Jane Lowe
2021-01-19
Verified
A huge thank you to both Jonathan and Gemma for all they have done to assist us in our mortgage application. They've stayed on the case for us throughout the process even though it's been difficult due to lockdown delays etc. but we now have our offer so we're delighted! I've worked with Jonathan for a while now on both business and personal lending requirements and he is always professional, helpful, efficient and will pull out all the stops to find the right product for me, even when I'm not sure what route I want to take! I would have no hesitation in recommending Fosters Financial.
Karen Hall
Karen Hall
2021-01-13
Verified
Fantastic service from start to finish. Kind, helpful, professional. Nothing was too much trouble, made a stressful time stress free. Highly recommended.
customer
customer
2021-01-12
Verified
Joanna Everett at Fosters Financial has been absolutely amazing throughout my whole mortgage process. Having had a difficult experience with a broker at another firm Joanna was like a breath of fresh air. Knowledgable, approachable, prompt and professional - I can't thank her enough for turning around my house buying experience!
Antony
Antony
2020-12-16
Verified
John, Tracy and Gemma have given service which has been second to none as always. Thank You. Would highly recommend.
Nigel
Nigel
2020-12-15
Verified
Good experience with Fosters Financial Sian was very helpful and explained things to me in much detail (first time buyer) I always felt like I could ask any question that I needed to. She made the process as stress-free as possible and I would 100% recommend Sian and Foster's Financial. Worth every penny!
Lauren Inez Renda
Lauren Inez Renda
2020-12-08
Verified
Couldn’t recommend Fosters Financial enough!
Johnny Hulus
Johnny Hulus
2020-12-06
Verified
Really happy with the service received from Foster Financials. Very friendly and approachable staff and answered all my questions throughout the application process. Highly recommended!! Thank you Sian and Connor :)
Eli
Eli
2020-12-05
Verified
Can't recommend highly enough. Professional, friendly and fair. They went above and beyond and nothing was ever too much trouble. Excellent all round.
Lindsey Ilsley - Martha Elma
Lindsey Ilsley - Martha Elma
2020-12-04
Verified
Fantastic service! 2nd time we have used fosters for our mortgage! Quick and amazing results Thank you Johnathan
customer
customer
2020-12-04

Bad credit mortgage calculator

Use our handy calculator to see how much you could borrow
Check now

Get a bad credit mortgage

Discover your mortgage options in just a few clicks

Get started
  • Whole of market
  • Free mortgage advice
  • 5-star rated service