Your credit score is like your financial reputation. It’s based on things like:
Most lenders use data from credit agencies like Experian, Equifax or TransUnion. A higher score usually means better mortgage rates – but don’t panic if yours isn’t perfect. “Bad credit” doesn’t mean “no chance”.
Lenders don’t just do “yes” or “no” – there’s a whole spectrum of deals out there. And some are made with bad credit borrowers in mind.
Here are a few types of mortgages you might be eligible for:
Specialist bad credit mortgages
These are offered by lenders who specialise in helping people with poor credit. You may face higher interest rates or need a bigger deposit – but they can get you on the ladder when high-street banks say no.
Joint mortgages or JBSPs
Pairing up with someone who has good credit (like a parent or partner) can boost your application. A Joint Borrower Sole Proprietor (JBSP) mortgage means they help pay, but you own the home.
Remortgaging when your score improves
Start with a mortgage you can get – then move to a better deal once you’ve had time to rebuild your credit score.
Remember: Every lender has their own criteria. One might reject you, another could say yes.
Bad credit doesn’t need to be a life sentence – and there are things you can do right now to improve your odds.
Check your credit report
Spot any mistakes? Dispute them.
Reduce your debts
Lenders look at how much you owe vs how much you earn. Paying off credit cards and loans shows you’re in control.
Save a bigger deposit
The more you put down, the less risk for the lender.
Prove your stability
Register to vote, avoid large new debts, and use the same address on all applications.
Bad credit? First-time buyer? Not sure where to begin? That’s what we’re here for.
You don’t need to face this alone. We’re here to help you figure it out.
Because HomeOwnership Made Easier isn’t just a tagline – it’s our mission.
What is an interest-only mortgage? Can I get one? And what happens if I can’t pay it off? Here’s all the info you need.
Plenty of homeowners remortgage without having a spotless credit record. You might even save on your next deal.
Habito specialises in helping you get the best mortgage or remortgage, all online, for free
