Can I get a mortgage if I have bad credit?

Posted on 2 September 2012 by dale

Can I still get mortgage if I have bad credit?  I am about 4 grand in debt.


The short answer is "very unlikely".  The longer answer is that it depends on what the bad credit is, how long ago it was registered and how much deposit do you have to put down?

Any CCJs, defaults registered against you in the last 6 years are likely to cause a problem and any missed payments in the last 12 months will do likewise.  Missed payments includes mortgages, loans, store cards, credit cards, mobile phone contracts, in fact any sort of credit.

The only time they may not cause a problem is if you have a very large deposit to put down, say at least 50% of the property value.  Even then there are lenders such as Santander who will not give you a mortgage and it is likely you will need to employ the services of an independent whole of market mortgage broker such as John Charcol to find any lender willing to help you.

If you think we will be able to help you, please call 0344 346 3672 and tell the consultant the date and title of your question. 


Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.

We recommend you seek professional advice with regard to any of these topics where appropriate.

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