How can I get a mortgage with bad credit?

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Having a good credit record is obviously an important factor for mortgage lenders when deciding whether to offer a mortgage.
 
They will search your credit file which is available through various credit reference agencies.  That will show the lender the level of credit that you have and how you have conducted those credit agreements. 

Having some credit is not a bad thing as long as the payment history is good.  In fact it can be helpful as it helps the lender see that a borrower can manage credit.  Even the odd historical blip may not cause an issue if everything has been back on track for some time. 

Much will therefore depend on how severe the problems have been, when they occurred and what the reasons are.  It makes sense to get a proper handle on the extent of the problem and face it upfront rather than play hit and hope with a mortgage application.  Credit files are easy to access online for little or no cost.

If the poor credit history is too severe for a mainstream lender there are some more specialist lenders that might be able to consider your case.

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David Hollingworth

London & Country Mortgages

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