Your credit history is part of the picture
Missed payments or a difficult period with money can make applying for a mortgage feel uncertain. Mortgage Haat can help you understand what information is needed and explore whether a suitable route may be available.
“Adverse credit” and “bad credit” describe past credit difficulties; they do not identify one standard mortgage product. Lenders assess applications differently. Approval is subject to lender criteria, affordability and the property, and may not be possible at this time.
Credit difficulties we can discuss
- Late or missed payments: including credit cards, loans, bills or mortgage arrears.
- Defaults and CCJs: including when they were registered, the amounts involved and their current status.
- Debt management plans: including whether payments are ongoing or the plan has finished.
- IVAs and previous bankruptcy: with an individual review of the arrangement, dates and lender requirements.
- A declined application: understand the possible reasons before trying another lender.
A limited credit history is different from a record of missed payments, but can also raise questions. Tell us about your situation so we can discuss the appropriate next step.
What a lender may consider
- The type, number, amount and age of credit issues.
- Whether debts or judgments have been settled and your recent payment record.
- Your income, employment or trading history, household spending and existing commitments.
- The deposit or equity available, its source and the property you want to mortgage.
- Any explanation for past difficulties and what has changed since.
A larger deposit can help with some lenders, but there is no deposit amount or credit score that guarantees a mortgage. Rates and costs may be higher where options are limited.
Prepare before applying
- Review your credit reports. Check the detail, dates and balances, rather than relying only on a score. Raise any errors with the credit reference agency or organisation reporting the entry.
- Build an accurate outline. Note what happened, when, whether it is settled and your current commitments.
- Plan an affordable budget. Include the deposit, legal costs, surveys and ongoing household spending.
- Speak before making repeated applications. Ask about lender criteria and whether a proposed credit check is a soft or hard search.
How the conversation works
Start with a general discussion of your plans. We can then explain the information required, review your circumstances and discuss any suitable options and their costs. If proceeding now is not appropriate, we will explain that rather than promise an approval.
Buying your first home, moving or reviewing an existing mortgage? You can use our mortgage enquiry journey to request contact, or start on WhatsApp.
If you are struggling with repayments now
If you are behind with mortgage payments, contact your existing lender promptly to discuss support. For help with wider debts, MoneyHelper can help you find free debt advice. A new mortgage may not be the appropriate immediate step.
Your home may be repossessed if you do not keep up repayments on your mortgage.