Can I get a mortgage if I have a poor credit history?

Although getting a mortgage with bad credit can be difficult – especially if you have defaults, individual voluntary arrangements (IVAs), county court judgments (CCJs), or a bankruptcy in your credit history – it is possible.

• All lenders will conduct a credit check on anyone applying for a mortgage. Many high-street banks may refuse to offer a mortgage if you have a bad credit history, but there are specialist bad-credit mortgage lenders who will be more flexible when assessing your mortgage application. However, the mortgage offered may mean you need to put down a larger deposit and be prepared to pay higher- than-average interest rates.
• Alternatively, you may want to consider trying to improve your credit score before applying for a mortgage, in order to increase your chances of being accepted for a standard mortgage.
• It pays to be cautious about applying for a mortgage if you think you might be rejected. This is because every time you apply for credit it is likely to be recorded on your credit history and unsuccessful applications can bring down your credit score.
• An impartial mortgage adviser can make recommendations based on your own individual situation.

As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments.