Bad credit Mortgage

gjenno05

Hello,
My partner and I have poor and average credit scores. We are slowly working on getting them back up but they do take time.

We have £20,000 deposit for a house but cannot get accepted for a mortgage.

Can you get a mortagage with bad credit?

Who is the best person to ask about this?

Thanks

Caz3121

get hold of all 3 of your credit reports and speak to a broker

Dave_Ham

How much are you buying at?

What has been recorded on your credit files, when and how much?

Should be able to answer more definitively after the information is shared above

Malmo

gjenno05 wrote: »

Hello,
My partner and I have poor and average credit scores. We are slowly working on getting them back up but they do take time.

If you are referring to the Credit Reference Agency scores, then these are irrelevant to lenders and you should ignore the numbers - they do not matter. Lenders will assess and possibly internally score your creditworthiness based on their own criteria and requirements.

Can you get a mortagage with bad credit?

Yes, but with the help of a good, whole of market mortgage broker.

Who is the best person to ask about this?

Find a good whole of market mortgage broker who will hand hold you through the process. Avoid brokers based in estate agents. One suggested method (as well as Google) to find a broker is to follow the steps in this post.

gjenno05

Thank you,

We both have good jobs but been rejected for 2 applications with HSBC and RBS.

Foxy-Stoat_3

gjenno05 wrote: »

Thank you,

We both have good jobs but been rejected for 2 applications with HSBC and RBS.

Speak to a broker, avoid going to the High Street as computer will say "No".