Can I get a mortgage with poor credit history?

ralphy

Hi

I've never had a mortgage before and am looking to buy my first house hopefully next year, i should have around £10000 for a deposit by then but as my credit history isn't the best will i be accepted by any banks for a mortgage?

I don't have or never have been blacklisted, i don't have any CCJs and I've never been bankrupt, my poor credit history is due to me paying the creditors i currently have (Welcome finance, Egg, Next, Littlewoods) arranged payment plans.

Any advice would be great, thank you.

Thrugelmir

You need to settle your arrangements to pay first. Until they are then your credit record will remain impaired.

ACG

Have you got your credit files? If not get them, have a look what these payment plans show as - do they show as arrangements or late payments or.....?

Depending on how bad it is, you might get away with a 10% deposit or you might need 25%. It would be worth getting your credit reports infront of a broker.