Poor credit

For a long time there has been the common misconception that lenders wont lend to those with poor credit history. Its' true that having a lower credit score will limit your provider options, however there are plenty of poor credit mortgages on offer from niche / specialist lenders who will consider applications on a case by case basis. These lenders will be more flexible and will usually consider applicants who:

  • Have had payment arrears

  • Defaults

  • County court judgments CCJ's

  • Individual Voluntary agreements IVA's

  • Been declared bankrupt within the last 6 years

Its likely that with a lower credit score you will pay a higher rate of interest compared to someone who has a higher credit rating, this is because the lender will consider your application to be higher risk. By keeping up your repayments and taking the necessary and recommended steps to improve your credit score, you will find within the next few years, by the time your next remortgage renewal is due, you will find yourself in a better position and potentially better remortgage options with lower rates of interest.


We know some initial questions are more common than others so we thought it would be handy to answer some.

Can i get a Mortgage with a bad credit score?

YES! in short it is possible to get a mortgage with a bad credit score, however your mortgage options will be more limited to that of someone with a 'good' or 'excellent' score. Your mortgage options will depend on a variety of factors such as he lenders criteria and the points contributing to your poor score.

Will i pay more as a poor credit borrower?

If you have a poor credit score it is likely your interest rate may be higher on your mortgage than that of someone who has a 'good' or 'excellent' credit score.

What mortgage products could I be eligible for?

When applying for a mortgage with a poor credit score you will find that most high street lenders will be unable to offer you a mortgage, their criteria requirements may be more strict than that of a niche or non high street provider.

Why does a poor credit score make it harder to obtain a mortgage?

When you apply for any form of finance such as a credit card, personal loan, car finance or a mortgage, the lender will access the potential risks involved in your ability to repay the loan back as agreed within your terms. They will usually use your credit score to determine the 'risk factor' involved to them if they are to agree to offer you a mortgage.

The Financial Conduct Authority does not regulate some forms of Buy-to-Let mortgages.

“The guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK.”

"The Financial Ombudsman Service is available to sort out individual complaints that clients and financial services businesses aren't able to resolve themselves. To contact the Financial Ombudsman Service please visit www.financial-ombudsman.org.uk."

Risinghurst Mortgages is a trading style of Stephanie Silva Mendes who is an Appointed Representative of Ingard Financial Ltd which is authorised and regulated by the Financial Conduct Authority No 450731. 
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

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