If you’ve had credit troubles in the past and you’re working to get back on track, you might assume that buying a home is off the table. But that’s not necessarily true! Getting a mortgage while rebuilding your credit is absolutely possible—you just need the right approach and a bit of guidance.
At Mortgage Bridge, we help people with bad credit find mortgage solutions that actually work for them. If that sounds like you, don’t worry—we’ve got you covered. In this guide, we’ll walk you through how to secure a mortgage while repairing your credit, what lenders are looking for, and some key steps to boost your chances of getting approved.
What Credit Score Do You Need to Get a Mortgage?
Lenders use your credit score to assess risk. The higher your score, the better your mortgage options. Here’s a breakdown:
- Excellent (961-999, Experian) – Best rates available
- Good (881-960, Experian) – Competitive deals available
- Fair (721-880, Experian) – Some mainstream lenders may still approve you
- Poor (561-720, Experian) – Limited options; likely need a specialist lender
- Very Poor (0-560, Experian) – High-risk category; may require credit repair before approval
If you’re in the “poor” or “very poor” category, don’t panic! You still have options.
Can You Get a Mortgage with Bad Credit? Yes, But Here’s What to Expect
Yes, you absolutely can! But it might look a little different than a standard mortgage. Expect:
- Higher interest rates – Lenders charge more to balance out the risk.
- Bigger deposit requirements – Typically, 15-25% rather than the usual 5-10%.
- More in-depth affordability checks – Lenders will scrutinise your income and spending habits.
The key is knowing where to look. Some lenders specialise in bad credit mortgages, so finding the right match is crucial.
How Can You Improve Your Credit Score Before Applying?
Even small improvements can make a big difference. Try:
- Paying all bills on time
- Paying off outstanding debts (or at least reducing them)
- Registering on the electoral roll
- Avoiding multiple credit applications close together
How Much Deposit Do You Need for a Bad Credit Mortgage?
A bigger deposit reassures lenders that you’re financially committed. While standard mortgages might require a 10% deposit, bad credit mortgages typically ask for 15-25%.
How Can You Show Lenders You’re Financially Stable?
Lenders want to see that you’re responsible with money. Having a stable job and managing your monthly expenses well can help strengthen your mortgage application.
Should You Use a Specialist Mortgage Lender or a Broker?
If you’ve got bad credit, mainstream lenders may not be your best bet. Instead, specialist lenders cater to people in your situation. They’re more flexible but might come with higher interest rates.
This is where we come in! At Mortgage Bridge, we help match people with bad credit to lenders who actually want to work with them. Going it alone can be tough, but we take the stress out of the process and find you the best deal possible.
What Mortgage Options Are Available for Bad Credit Borrowers?
If your credit history isn’t spotless, you still have choices. Here are some mortgage options that might work for you:
1. What Is a Bad Credit Mortgage and How Does It Work?
These are designed for people with past credit issues, including CCJs, defaults, and bankruptcy. While the interest rates are higher, they offer a route to homeownership while you continue improving your credit.
2. How Does a Guarantor Mortgage Work?
If you have a family member or friend willing to act as a guarantor, you might be able to secure a mortgage with better terms. They agree to cover payments if you can’t, which reassures lenders.
3. Can You Get a Joint Mortgage If Your Partner Has Good Credit?
Applying with a partner or family member who has good credit can improve your chances. Their stronger financial profile can help balance things out.
4. Are There Government Schemes That Can Help with a Bad Credit Mortgage?
There are schemes that can help people struggling to get a mortgage due to a low deposit or bad credit. These can make it easier to get on the property ladder.
5. What About Credit Repair Mortgages?
Some lenders offer mortgages specifically aimed at people who are working to rebuild their credit. These can be a great stepping stone to better mortgage deals in the future.
What’s the Application Process Like for a Bad Credit Mortgage?
Applying for a mortgage with bad credit means lenders will take a closer look at your finances. They’ll assess:
- Your credit history and score
- Employment and income stability
- Debt-to-income ratio
- Deposit amount
- Recent financial behaviour
The process might take a little longer, but being prepared will help things go more smoothly.
What Are the Benefits of a Credit Repair Mortgage?
A bad credit mortgage isn’t just about getting a home—it’s also an opportunity to rebuild your financial future. By keeping up with payments, you can:
- Improve your credit score over time
- Qualify for better mortgage deals later
- Build home equity and financial security
After a few years of responsible payments, you might even be able to remortgage to a better rate.
Is Now the Right Time to Apply for a Mortgage?
If you’re wondering whether to apply now or wait, ask yourself:
- Can I afford the higher interest rates right now?
- Do I have a steady income and a financial plan?
- Have I explored all my mortgage options?
If you’re unsure, that’s what we’re here for. At Mortgage Bridge, we help people like you figure out the best way forward.
Ready to Get a Mortgage While Rebuilding Your Credit? Let’s Talk
Getting a mortgage with bad credit isn’t always easy, but it’s definitely possible. The key is knowing your options and working with the right people.
If you’re ready to take the next step or just want some advice, get in touch with us at Mortgage Bridge. We’ll help you find a mortgage that works for you—even if your credit history isn’t perfect.
Let’s build your bridge to homeownership!