How to Secure a Mortgage When You're Concerned About Your Credit
Score
Buying a home is a major life milestone, but securing a mortgage with a poor or limited
credit history can feel daunting. In the UK, lenders assess your credit score to determine
your mortgage eligibility and the terms of your loan. However, with the right approach,
you can improve your chances of approval even if your credit score isn’t perfect. Here’s
a guide to help you secure a mortgage when you’re concerned about your credit score.
1. Understand Your Credit Score
Before applying for a mortgage, it’s crucial to know where you stand. In the UK, you can
check your credit report for free using services like Experian, Equifax, or TransUnion.
Look for any inaccuracies or errors, such as outdated addresses or incorrect payment
statuses, and request corrections if necessary. A clear and accurate report provides a
better foundation for your mortgage application.
2. Save for a Larger Deposit
The larger your deposit, the lower the risk for the lender. A higher deposit can not only
increase your chances of mortgage approval but may also secure you a more
competitive interest rate. Aim for at least a 10% deposit if your credit score is less than
ideal, though some lenders may require 20% or more.
3. Consider Specialist or Bad Credit Mortgages
Some lenders in the UK specialise in bad credit mortgages, which are designed for
applicants with poor credit histories. These products often come with higher interest
rates, but they can provide a pathway to homeownership. Be sure to compare multiple
offers and seek professional advice to ensure you’re getting the best possible terms.
4. Improve Your Credit Score Before Applying

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Taking steps to improve your credit score before applying for a mortgage can make a
significant difference. Here are some quick wins:
• Register on the electoral roll: This improves your visibility to lenders.
• Pay down existing debts: Lowering your debt-to-income ratio can boost your
score.
• Avoid applying for new credit: Multiple credit applications in a short period can
negatively affect your score.
• Keep your credit utilisation low: Use less than 30% of your available credit
limit.
5. Seek Professional Advice
A mortgage broker with experience in bad credit cases can be invaluable. They have
access to a wide range of products and can guide you to lenders who are more flexible
with their credit score requirements. An independent mortgage broker, in particular, can
provide unbiased advice and search the entire market for the best deal suited to your
circumstances. A broker can also help you understand complex terms and navigate the
application process smoothly.
6. Consider a Guarantor Mortgage
If your credit score is holding you back, a guarantor mortgage might be an option. This
involves a trusted family member or friend agreeing to cover your repayments if you
default. The guarantor’s property or savings are often used as collateral, making it a
significant commitment.
7. Stay Realistic About Affordability
When choosing a property, be realistic about what you can afford. Even if you secure a
mortgage, managing repayments on a tight budget can lead to financial difficulties. Use
affordability calculators provided by lenders or brokers to assess what monthly
payments you can sustain.
Final Thoughts
Securing a mortgage with a challenging credit score is achievable with careful planning
and preparation. By understanding your credit profile, improving your financial habits,
and seeking the right professional guidance, you can navigate the mortgage landscape
with greater confidence. Remember, persistence and a proactive approach can go a
long way toward achieving your homeownership dreams.