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  • Hayley Leith

How Do I Get a Mortgage if I Have a Low Credit Score?

Updated: Jul 7, 2021

How Do I Get a Mortgage With a Bad Credit Score?

Credit scores are like good reputations - they take a long time to build up and it only takes a moment to ruin them. Forget a utility payment or pay a mobile phone bill late, and your credit score takes a hit. On the other hand, if you’ve been a paragon of financial virtue and never had a loan or a credit card, then you might not have a credit score at all!

There are so many reasons why you might have a low credit score that it would take a book, not an article, to describe them all. Whichever it is, a high street bank is more likely to deny you a mortgage if you have a poor credit score. Their computer will simply say no.

If this sounds like you, then these four tips will help you to get the mortgage that you need, to buy the home that you deserve.

What is a low credit score?

Before applying for a mortgage, you should check your credit score with the main credit reference agencies. This is free to do so - simply visit the agency’s website, register, and order your credit report. The three main credit reference agencies that are used in the UK are Experian, Equifax, and TransUnion.

Understanding what a low credit score is can be a complicated process. Your credit score is representative of how each of the credit reference agencies analyses your credit files, so therefore your score may be different from each agency. However, this does not mean that the agencies have different versions of your credit file, it is simply how they score your credit history that will differ. Finding out your credit score is a great place to start to know where you’re at, but it’s what’s in your credit files that really matters when it comes to applying for mortgages.

Tip #1: Understand your credit score

The first step to getting a mortgage is to understand why your credit score is low. The main factors in a credit score calculation are:

  • Payment history (35%)

  • Balances owed (30%)

  • Length of credit history (15%)

  • Credit applications (10%)

  • Credit mix (10%)

Tip #2: Correct any errors on your credit report

It is not uncommon for errors to appear on your credit report, so if you find any errors you should have them corrected before making a mortgage application. To do so, you will need to contact the credit reference agencies and your creditors, tell them about the mistake, provide evidence to support your claim, and then ensure it is corrected.

Tip #3: Use a specialist mortgage broker

High street banks and mainstream lenders don’t like lending to people with bad credit scores. However, there are some lenders that treat borrowers with bad credit as more than just a number. Most specialist lenders only deal with people through a specialist mortgage broker, like Mortgage Thoughts.

In this article, you can learn about bad credit mortgages and lenders that offer them.

Tip #4: Let the mortgage broker take the strain

Each bad credit mortgage lender has different capabilities, criteria, and areas of bad credit specialisation. The mortgage broker will discuss your needs and credit circumstances with you to fully understand your situation.

Then, on your behalf, they will search the mortgage market for you - including the high street lenders. It’s a stress-free process for you, saving you hours and ensuring all potential lenders are assessed on your behalf - including those elusive specialist bad credit lenders.

It’s not easy to get a bad credit mortgage on your own,

but it couldn’t be simpler with a broker!

Whatever the reasons for your low credit score, you may still be able to get a mortgage. If you are in a bad credit situation, contact Mortgage Thoughts today and let us help you. You’ll be surprised what options may be open to you - we know where to find them.

For more information on how to improve your credit score, here are 9 tips to help you improve your credit score.


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Mortgage Thoughts Limited Registered Office: 14 Park Square East, Leeds, LS1 2LF. Registered Company Number: 09528880 Registered in England & Wales.
Authorised and regulated by the Financial Conduct Authority. Financial Services Register No 943629. See more at The information contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK

Our mortgage eligibility tool is operated by Lending Score (a third party) on behalf of Mortgage Thoughts. It is designed to give you an indication of how likely you are to be accepted, should you make a full application for a particular mortgage deal. Your eligibility is determined by a high-level check of your credit record and the additional information you have provided. This does not constitute an offer of credit, and you may be referred or declined once a full assessment of your application has been completed. By providing you with an indicative comparison of mortgage products and the likelihood of you being able to obtain those mortgage products, we don’t look at whether the mortgage is suitable for you and your financial needs. The mortgage eligibility service is not, and should not be construed as, a recommendation, financial or other professional advice. Professional advice should always be sought before taking action. This can be obtained by contacting one of our qualified advisors.

It is important to note that our online mortgage eligibility service only covers a small number of lenders and there are other products available. By contacting one of our advisors we will be able to check your eligibility with a more comprehensive panel of lenders.

Your home may be repossessed if you do not keep up with repayments on your mortgage. Think carefully before securing other debts against your home.  You may have to pay an early repayment charge to your existing lender if you remortgage.

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