Adverse Credit Mortgages
Struggling to get a bad credit mortgage loan? We can help.
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Helping you get a mortgage with bad credit.
Do you have any concerns about your credit history and ability to get a mortgage? Have you been exploring mortgages for bad credit scores? We would love to help you.
No matter what size of deposit you have, or the type of property you wish to buy, if you have a poor credit rating it can feel very disheartening when trying to get a mortgage. There may only be a limited number of lenders willing to consider your application, and the likelihood of being accepted for a mortgage can feel impossible. This is where Key Solutions comes in! The mortgage brokers at Key Solutions have experience helping people with poor credit achieve a mortgage, and we can give you personalised comprehensive advice.
We’ve helped thousands of adverse credit mortgage borrowers in the UK get on the housing ladder.
We treat every client as an individual, making it easier for those with bad credit scores to secure a mortgage. Whether you’re a first-time buyer or a homeowner looking to remortgage to reduce your outgoings and address your financial position, we can help no matter your situation. As a whole of market mortgage broker, we have access to nearly every mortgage product on the market available. We also have access to exclusive products and rates to help get you the very best mortgage for your circumstances.
We have strong relationships with lenders who are understanding of adverse credit. We will start by giving you independent advice about your ability to get a mortgage so that you don’t worsen your position by applying to a lender and having your application rejected. Having a mortgage application rejected will worsen your credit score, so lots of research must take place before any mortgage application is made.
If you feel you may struggle to get a mortgage due to bad credit, please get in touch.
Find out how much you can borrow as a first time buyer with our free mortgage calculator.
Our calculator is designed to make things easier for you, giving you a quick guide on how much you can borrow for any residential mortgage.
We take live information from nearly every mortgage lender in the market to give you an idea of your personal mortgage affordability, based on your income and outgoings.
All you need to do is fill in your information and your mortgage affordability will be displayed to you in a matter of minutes.
What causes adverse credit?
There are several factors that contribute to your credit score. Some of the most common reasons people have poor credit ratings include:
Repayment history: Making on-time payments for credit cards, loans, mortgages, and even bills like phone contracts and utility bills significantly affects your credit score. Missed or late payments will damage your credit report.
Credit utilisation: Keeping your credit utilisation ratio low (ideally below 30%) is crucial in the UK. Maxing out your credit cards or having a high overall credit utilisation can negatively impact your score.
Hard inquiries: Applying for new credit cards or loans (including mortgage applications!) triggers a hard inquiry in the UK. While a single inquiry might not have a major impact, multiple inquiries within a short period can lower your score.
Public records: Negative events like bankruptcy, County Court Judgements (CCJs), or Individual Voluntary Arrangements (IVAs) will stay on your credit report in the UK and can significantly damage your score.
Errors on your credit report: Checking your credit report regularly for errors and disputing any inaccurate information is important.
It’s also worth noting that if you have never taken out credit for anything, you may well find yourself being rejected for certain finance items – because you haven’t yet built up a record of credit.
Can you get a mortgage with bad credit? Yes! Here’s how:
Initial consultation
We’ll meet with you to discuss your financial situation, including income, debts, and desired loan amount. Be upfront about your credit history; we can assess its impact and explain your options. In most cases, we will ask you to obtain a copy of your credit file so we can review it before we begin matching you up with prospective adverse credit lenders.
Lender matching & pre-qualification:
We’ll search for lenders specialising in adverse credit mortgages based on your situation. We’ll consider factors like the severity and age of negative credit marks. Pre-qualification will give you an estimated loan amount you might qualify for.
Documentation gathering:
You'll need to provide proof of income (pay slips, tax returns), employment verification and bank statements.
Application & negotiation:
We will guide you through the mortgage application process for the chosen lender(s). We can negotiate on your behalf to get the most favourable interest rate and terms possible!
How do I know if I have adverse credit?
There are a number of tools online that can be used to measure your credit score. The ones frequently used by lenders that you can check yourself are Experian, Equifax, and Callcredit. It is important to note that by using one of the credit checking tools above you will leave a “footprint” on your credit report in the form of an enquiry, however this will not negatively affect your credit score.
There are other signs that you might have adverse credit you can consider without using a credit-score checker:
- A history of late or missed payments on loans, credit cards, or bills.
- County Court Judgements (CCJs) or defaults on accounts.
- A high credit utilisation ratio (maxing out credit cards frequently).
- A history of bankruptcy or Individual Voluntary Arrangements (IVAs).
- Difficulty obtaining credit cards, loans, or other forms of credit.
Making it easier to find a lender who will accept your application.
If you have adverse credit and are struggling to secure a mortgage, we can help. To find out more about how we can get you a mortgage, or any of the other services we offer for those looking to secure a mortgage on a property, call us on 0800 138356 or get in touch below.
We would love to help you. It may be that we are not able to help you secure a mortgage right now, but we will provide advice and support on the steps you can take to ensure you are in a position to be able to take out a mortgage in the future.
Our advice to you is also backed by our unique unconditional service and 100% mortgage guarantees which means you can proceed with us in absolute confidence that you will get a guaranteed mortgage and the very best service!
Why choose Key Solutions for your adverse-credit mortgage?
Your mortgage guaranteed
If we say you qualify for a mortgage, then we will stand by that decision and provide you with a 100% mortgage guarantee to you that you can get the funding you require. If we don’t, we will refund any associated cost you have incurred.
Your happiness guaranteed
Our advice to you is backed by our unique unconditional service guarantee which means if you are not happy with the service that we provide, just tell us why and we will immediately refund any fees that you have paid us.
Every mortgage in the market
As a trusted whole-of-market broker, we have access to every mortgage product on the market as well as access to exclusive rates you won't get by going direct to a bank.
Quick and easy process
We will complete all research, administration and chasing on your behalf so you don’t have to worry about a thing! So leave it with us and your new mortgage offer will be with you quicker than you know it!
Mortgage Services
Finding you the best adverse credit mortgage deals in the UK
To find out more and to let us help you with your mortgage and protection needs please give
us a call us on 0800 138 5856 or get in touch below.
FAQs about Adverse Credit
How to get a mortgage with bad credit?
Getting a mortgage with bad credit is possible, but it may require a larger deposit, a guarantor, or a lender specialising in adverse credit mortgages. Be prepared for higher interest rates compared to borrowers with good credit. We recommend speaking to us, we can assess your situation and recommend the best options for you!
How to get a mortgage with bad credit, but good income?
A good income can help offset some of the risks associated with bad credit for lenders. However, it won’t eliminate the need for a larger deposit or a higher interest rate. An adverse credit mortgage broker, like us, can help you find lenders who consider your income alongside your credit history.
What is a bad credit score for a mortgage?
There’s no universal “bad” credit score for mortgages in the UK. However, lenders generally view scores below 560 as less favourable. The specific requirements will vary by lender.
How to get a 2nd mortgage with bad credit?
Obtaining a second mortgage with bad credit is more challenging than a first mortgage. Lenders will heavily scrutinise your existing financial commitments and ability to handle additional repayments. Exploring options to improve your credit score before applying for a second mortgage is recommended.
Where can I get a mortgage with bad credit?
Not all lenders offer mortgages for those with bad credit. However, some specialist lenders do cater to borrowers with a history of adverse credit. A mortgage broker can help you find lenders who may be suitable for your situation.
How easy is it to get a mortgage with bad credit?
Getting a mortgage with bad credit is generally more challenging than with good credit. Expect a more complex application process with stricter requirements. However, with the help of a mortgage broker and a willingness to meet stricter lending criteria, it is still possible!
How much deposit do I need for a bad credit mortgage?
A larger deposit (typically 20-30% or more) can improve your chances of qualifying for a mortgage with bad credit. A larger down payment reduces the amount you need to borrow and demonstrates a stronger financial position to the lender.