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Bad Credit Mortgage: Getting a mortgage with a poor credit rating

Been declined for your first or next mortgage?

At Twin Pine Mortgages we are a specialist in bad credit mortgages. We work with over 70 lenders, including mainstream and specialist lenders. So whether you are looking for a mortgage for yourself, or need a buy to let mortgage with bad credit, we can help.

Bad credit mortgage lenders 

Mainstream mortgage lenders have strict criteria when it comes to lending. Most of them are not set up to deal with you if your situation is different from what they consider the ‘norm’. Even if you have an account with a bank which has always been conducted well, but a have poor credit rating they are still likely to decline a mortgage application. But there are specialist lenders, or bad credit mortgage lenders, that do specialise in bad credit mortgages. Working with a bad credit mortgage broker (like us), we can find a lender who knows how to deal with your situation. We have built great relationships with specialist lenders and have an excellent track record of getting mortgages for people with bad credit.

Not everyone has a perfect credit history or job situation. We are experts at getting customers just like you a mortgage. Use our bad credit mortgage calculator to get an idea of what you can borrow or contact us today and we'll help you get started.

It is also worth bearing in mind that not all mortgage brokers are set up as poor credit rating brokers. Some mortgage brokers will not have the specialist knowledge or connections to support every type of bad credit history. Twin Pine Mortgages go the extra mile to understand you and your finances to quickly connect you to the most appropriate bad credit lenders.

What is bad credit (or poor credit)?

Bad credit, or poor credit, comes in all shapes and sizes, from missed utility bill payments to bankruptcy.


Usually, when a lender thinks of someone as having poor credit, it's because they have a low credit rating, due to issues like late or missed payments, defaults, CCJs, bankruptcy or debt relief orders or simply they have no credit history.

Getting a mortgage with a bad credit rating

While there isn't specifically a product called a bad credit mortgage or poor credit mortgage, there are bad credit mortgage lenders who are specialist in lending to people with poor or adverse credit.


Bad credit is more common than you might think and while having poor credit isn't great if you're hoping to get a mortgage, it's not the end of the world. Lots of lenders have mortgage criteria that allow for less-than-perfect credit history if it's affordable in relation to your income.

Can I get a mortgage with a bad credit rating?

As we've already explained some lenders specialise in providing poor credit mortgages, so a poor credit history doesn't prevent you from getting a mortgage.

It's not only specialist adverse credit lenders who may be willing to give you a bad credit mortgage. Depending on your circumstances you may even find that a high street lender can provide the best bad credit mortgage for you.

We help first-time buyers, home movers, remortgagers, business owners and buy-to-let landlords. We work with high-street to specialist adverse lenders, weigh up the pros and cons of the options and provide you with deals from the best lenders in the market.

What is a bad credit mortgage and how does it work?

If you are approved for a bad credit mortgage, you will be expected to make monthly repayments of an agreed amount, charged at a level of interest that will either be fixed or variable, depending on the type of mortgage agreement you opt for.


A fixed-rate doesn't fluctuate with market conditions once locked in for a fixed period so you always know how much your repayments will cost.

A variable rate mortgage is a type of mortgage where the interest rate you are charged can change if the Bank of England's base rate, or the lender's Standard Variable rate, increases or decreases.


This can work to your advantage if the interest rate falls your repayments would decrease. However, if interest rates rise so will your repayments. It's important that you make your mortgage repayments, on time, every month. Missing a payment or making a late payment could put your home at risk.


You'll be required to put down a deposit for a poor credit mortgage. The lender might ask you to provide a larger deposit of 20-25% of the value of the property, rather than the usual 5-10% but that's not always the case.


We can work out how much deposit you'll need for various lenders and compare which one has the better deal for you.

Will I be able to borrow less because of my bad credit rating?


Yes, it's possible that you'll be able to borrow less because of your bad credit rating. Lenders generally consider credit score as a measure of creditworthiness, and a lower credit score may indicate a higher risk of default.


Alternatively, with some lenders you may find that you need a bigger deposit if you are applying for a bad credit mortgage, or that you need to opt for a mortgage with a higher interest rate than if you were able to access the full portfolio of mortgages.


However, this shouldn’t put you off. It's important to shop around and compare different lenders to find the best deal for you and Twin Pine Mortgages are perfectly placed to help you with this.

Use our bad credit mortgage calculator to get an idea of what you can borrow or find out in just a few minutes if you qualify for a mortgage.


Getting a mortgage with a CCJ

Getting a mortgage with a current or recent CCJ (County Court Judgement) can make the process more difficult and may mean you pay a slightly higher interest rate. However, it's very easy to end up with a CCJ with some companies handing them out with very small amounts owed. You could end up with a CCJ if you've been issued a parking ticket and not paid it off, even if you didn't know you had a parking ticket.


Many of our bad credit mortgage lenders will lend if you need a mortgage with a CCJ or Default registered against you. Some of the lenders will ignore mail order, communications suppliers (mobile phones) or utility CCJ's or Defaults making getting a mortgage with a CCJ pretty straightforward in some circumstances.


Usually, the lender will want to know how long ago you were issued the CCJ, how long ago you paid it off and if anything was happening in your life that caused the problem. Both mainstream and bad credit lenders will look more favourably on a CCJ or default registered 5 years ago and paid off within 6 months, than one registered 5 years ago with the balance still outstanding.


But can you get a mortgage with a CCJ or default that was registered more recently? It is possible, as some poor credit lenders will agree to lend even if your CCJ was issued just 6 months ago and remains outstanding.

Moving home and in need of a poor credit mortgage?

If you want more space, a home office, a bigger garden or a better location, speak to us. We will guide you through your borrowing needs and arrange an Agreement in Principle from our panel of lenders.


This may be the first time you've sold a property and moved or you could be an experienced mover, either way, there is a lot to consider. Since the financial crash regulation and lending criteria changes have made getting mortgage finance more difficult. This is where our team of brokers will give you advice on the best course of action and search the market for the right deal.

When you already have a mortgage and want to move we'll look at whether you should transfer 'port' the mortgage. If you need to borrow more and top up we'll research the options available to you and make sure the advice is cost-effective or depending on your situation if it makes more sense to start afresh.

Whatever your situation, get in touch, we're waiting to help.

Common reasons for a declined mortgage application and what to do:


  • Poor credit history

Check your credit file with the credit reference agencies to see what information they have about you. If any of the information on your credit report is wrong asked them to correct it.

  • Not registered to vote

You need to be on the electoral register at your current address so lenders can confirm who you are and where you live.

  • Too many credit applications

When you apply for credit, the lender will search your credit report to check your suitability. Most searches are recorded, leaving a mark on your credit history. Applying for lots of credit over a short period makes it look like you have money problems, so try to avoid taking out new credit deals at least a year before you want a mortgage.

  • Too much debt

Having too much debt is likely to reduce your chances of getting a mortgage. Reduce or pay off some of the debts before applying for a mortgage.

  • Payday loans

Any payday loan you’ve had over the last 6 years will be listed on your credit report, even if it is paid off on time. It could count against you as lenders might think you may not be able to cope with the financial responsibilities.

  • Not earning enough

You could look for a smaller mortgage or see if you can qualify for a lender's specific products or one of the government home-buying schemes.

  • Not fitting the lender's profile

Lenders have different lending criteria, and they look into several factors when assessing your mortgage application. It could be based on a combination of age, income, employment status, the loan to value, property type and location. 


Common mistakes to avoid when applying for a bad credit mortgage


It’s easy to feel despondent when you’re applying for a mortgage and are hampered by a bad credit rating. However if you follow our guidance above then you will be in a much better position to be accepted for a bad credit mortgage. Once you are on the application process, below are some top tips to ensure that it goes smoothly:


  1. Not checking your credit report: Before you apply for a mortgage, it's important to review your credit report and fix any errors or discrepancies.


  1. Failing to demonstrate stable income: Lenders want to see that you have a steady source of income, so make sure to provide proof of employment and salary.


  1. Not disclosing all debts: It's important to be upfront about all of your debts and financial obligations, including credit card balances, car loans, and student loans.


  1. Making late payments: Late payments can seriously harm your credit score, so it's crucial to make all of your payments on time, even while you're in the process of applying for a mortgage.


  1. Applying for new credit while in the mortgage process: Opening new credit cards or loans during the mortgage process can indicate to lenders that you're not financially stable, which can hurt your chances of getting approved.


  1. Not shopping around for the best deal: Different lenders will offer different terms and rates, so it's important to compare options and find the best deal for you, and that’s where Twin Pine can help!


  1. Not understanding the terms of the mortgage: Make sure to thoroughly read and understand the terms and conditions of your mortgage, including the interest rate, payment schedule, and any penalties for default. We are here to help with anything you don’t understand, so always ask questions however obvious they may seem.


  1. Failing to save for a deposit: This can demonstrate to lenders that you're committed to the mortgage, and it can also help you get a better interest rate, particularly if you are applying for a bad credit mortgage.


  1. Not being honest about your financial situation: Providing false information or concealing important financial details can result in a mortgage denial or even legal consequences.


  1. Not working with a reputable lender: It's important to choose a lender with a good reputation, as there are many scams and predatory lenders targeting people with bad credit. Again, working with a mortgage broker specialising in poor credit ratings like us will help ensure you don’t make any bad decisions.

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