Bad Credit Mortgages - Get Expert Help
Expert Advice for Getting a Mortgage With Bad Credit
Bad Credit Mortgages
If you’ve been declined by a high street bank, a bad credit mortgage may still be possible. Our brokers specialise in arranging solutions with lenders who assess applications manually, rather than relying solely on automated scoring systems.
Based in Manchester and supporting clients across the North West, Bell Financial Solutions provides experienced mortgage advisors offering clear, honest guidance from start to finish.
- Access to specialist adverse credit lenders
- Independent, whole-of-market advice
- Free initial assessment
Speak to a mortgage broker today to find out what could be possible.
We’re all ears.
Let’s have a chat about what you need and how we can help.
What is Bad Credit?
"Bad credit" isn't a single thing. It covers a wide range of situations, and lenders weigh them differently. So, just because you’ve been rejected for credit in the past doesn’t necessarily mean you have bad credit.
There are common issues that can impact the success of your mortgage application.
These include:
- Missed or late payments
- Defaults
- County Court Judgements (CCJs)
- IVAs or previous bankruptcy
- Debt management plans
- Self-employed with credit issues
Severity and timing matter.
A single missed payment four years ago is treated very differently from a recent unsatisfied CCJ. Most issues become less significant over time, particularly if they have been addressed and your recent conduct is strong.
What is a Bad Credit Mortgage?
A bad credit mortgage works the same way as a standard mortgage. You borrow money to buy a property, pay it back monthly over an agreed term, and the lender holds the property as security until the loan is paid off.
The difference is in the conditions attached to it. Because the lender is taking on more risk by lending to someone with a troubled credit history, they offset that risk in two main ways: higher interest rates and stricter borrowing limits.
For more insight into the buying process, read our guide on how mortgages are calculated.
How Much Deposit Is Needed for a Bad Credit Mortgage?
Most lenders require a larger deposit when adverse credit is involved.
Typically, you should expect:
- 15–25% deposit for most specialist lenders
- 20–25% for more serious or recent credit issues
A larger deposit reduces lender risk and increases the number of options available.
If your deposit is currently below this level, we can advise whether waiting and strengthening your position may improve your options.
Book an appointment today.
For more information, see our guide on What mortgage can I get?
Which Lenders Actually Consider Bad Credit
High street banks are cautious, and applications to lenders like Halifax or Barclays may be rejected, which can affect your credit score.
Specialist, or adverse credit, lenders take a manual approach, assessing the full picture of your history. Many aren’t available directly to consumers, making a mortgage broker’s guidance valuable.
How Bell Financial Solutions Improves Your Approval Chances
Applying directly with adverse credit can be risky, as declined applications leave a hard search on your credit file and reduce your options. Bell Financial Solutions assesses your circumstances before submission and identifies lenders whose criteria suit your credit, income, and deposit.
We work with specialist lenders who manually review complex cases, many of which aren’t available directly to the public.
Book an appointment to discuss your situation in confidence.
How to Get a Mortgage with Bad Credit
If your timeline isn't urgent, a few months of focused effort can genuinely open up better options:
- Check your credit reports to see your credit score (Experian, Equifax, TransUnion)
- Register on the electoral roll
- Keep up with all current credit commitments
- Avoid applying for new credit before your mortgage application
Types of mortgage available with bad credit
Having a poor credit history doesn't mean you're limited to one option. There are a few different mortgage types that specialist lenders will consider, depending on your situation.
Residential mortgage
How it works: A standard mortgage used to buy a home you live in. With bad credit, lenders assess deposit size and how recent the credit issues were.
When it may be suitable: Suitable for most buyers with adverse credit if they can provide a larger deposit.
Fixed-rate mortgage
How it works: The interest rate is fixed for a set period, usually two to five years, which keeps monthly payments stable.
When it may be suitable: Often suitable for borrowers with bad credit who want predictable payments in a higher-rate environment.
Variable or tracker mortgage
How it works: The interest rate moves in line with the lender’s standard variable rate or the base rate set by the Bank of England.
When it may be suitable: May suit borrowers who expect rates to fall, although fewer lenders offer these to applicants with significant adverse credit.
Buy-to-let mortgage
How it works: A mortgage secured against a rental property, with affordability assessed partly on projected rental income.
When it may be suitable: Suitable for investors with adverse credit and a strong deposit, often around 20–25% or more.
Joint mortgage
How it works: Two applicants apply together and are jointly responsible for repayments, with combined income used for affordability checks.
When it may be suitable: Can help where one applicant has stronger credit or income, improving overall affordability.
Guarantor mortgage
How it works: A third party, usually a family member, agrees to cover repayments if the borrower cannot meet them.
When it may be suitable: Can improve approval chances where credit history or deposit is weaker.
Specialist adverse credit mortgage
How it works: Offered by lenders who manually assess applications that fall outside standard high street criteria.
When it may be suitable: Suitable for applicants declined by mainstream banks due to recent or more severe credit issues.
Why Use Bell Financial Solutions?
Securing a mortgage with bad credit isn’t just about finding a lender, it’s about approaching the right one first. Applying to the wrong bank can lead to declines and harm your credit profile.
As CeMAP-qualified advisers, we assess your circumstances, recommend suitable lenders, handle all communication and paperwork, and guide your application from initial consultation through to completion. Our aim is to secure a realistic mortgage and provide clarity and confidence throughout the process.
Contact us for an appointment or request an instant online quote to get started.
Get in touch today!
Let’s have a chat about what you need and how we can help.
Still have questions?
What Interest Rate Can You Expect with Bad Credit?
Bad credit mortgages usually carry higher rates, often 1–3% above standard mortgages, depending on your profile and lender. That gap can add up over a two- or five-year fixed term, but it does not have to be permanent. See our blog, Are Mortgage Rates Coming Down?, to learn when might be a good time to buy.
Many borrowers use a bad credit mortgage as a stepping stone onto the property ladder. Once credit improves and equity builds, they may remortgage. You can explore other reasons to remortgage your home.
What’s the Lowest Credit Score for a Mortgage?
Every lender has different thresholds, so there isn’t a single cut-off credit score. Even if your credit score is low, it’s still worth seeing what options may be available. For context, the average UK credit score according to Experian is 797 out of 999.
Importantly, it’s not just about the number. Many lenders, particularly those who manually underwrite applications, look beyond the headline score and assess what is actually on your credit report. This includes missed payments, defaults, CCJs, repayment history and how recently any issues occurred.
There is no universal “pass or fail” score. Each lender uses its own criteria and internal scoring system, creating its own assessment based on the information in your application and what appears on your credit report.
That is why understanding the details behind your credit profile is often more important than focusing solely on the score itself. At Bell Financial Solutions, we specialise in reviewing credit reports in detail to help identify which lenders may be more suitable for your circumstances.
We’re all ears.
Let’s have a chat about what you need and how we can help.
