Bad Credit Mortgages

Securing a mortgage with bad credit is not an insurmountable challenge when you have the support of a mortgage broker. Goldmanread has access to many bad credit lenders and can guide you through the application process.

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Welcome to Goldmanread, Bad Credit Mortgage Brokers

Getting on the property ladder can be challenging, especially when faced with the extra hurdle of poor credit. However, at Goldmanread, we are here to reassure you that securing a mortgage with a bad credit history is not impossible.

As an experienced mortgage broker, we specialise in helping individuals with adverse credit find the right mortgage lender. We are independent, meaning we have access to many mortgage providers, including high-street lenders and specialist lenders.

Goldmanread is dedicated to helping you overcome the obstacles associated with a poor credit history and achieve your dream of homeownership. Contact us today to schedule a free initial consultation.

What credit score do I need to get a mortgage?

It’s important to note first that each lender assesses credit records differently, and it is just one of many criteria, such as age and income. What is acceptable to one lender may not be to another. So, there’s no such thing as a ‘minimum’ score to get a mortgage.

Credit scores typically range from 0 to 999. Experian considers 881-960 a ‘good’ score, 721-880 ‘fair, 561-721 ‘poor’ and below 560 ‘very poor’. It is easy to check your credit record online.

It’s true that if you have a higher credit rating, you will have access to more lenders and more favourable interest rates. A lower credit score suggests a higher risk for most high street lenders. However, there are specialist mortgage lenders willing to consider applicants with poor credit ratings, so you shouldn’t give up hope.

What is a Bad Credit Mortgage?

Bad (or adverse) credit mortgages are designed to assist individuals with poor credit scores to secure financing for a home. It is not a specific product as such, and bad credit mortgages work the same way as standard mortgages.

The difference is the lending criteria and loan terms. Bad credit mortgage lenders may ask for a larger deposit and have a maximum loan-to-value (i.e. the difference between the mortgage amount and the property value). You can also expect to pay higher interest rates to mitigate the perceived risk to the lender.

While it’s possible to get a mortgage with a poor credit rating, to further your chances of success, you may wish to consider getting a joint mortgage or a guarantor mortgage. You may also wish to delay until you have built up more of a deposit, which will open access to more lenders and better interest rates.

What Do Mortgage Lenders Look for on Credit Reports

Lenders will closely examine the applicant’s credit record for incidents of the following:

CCJs (County Court Judgements)

Traditional lenders often view a County Court Judgement as a red flag. However, securing a mortgage with a CCJ is not impossible, and our team at Goldmanread has the expertise to guide you through the process.


Lenders are wary of extending credit to individuals with a repossession on their credit record. However, it depends on how recent it was, so getting professional advice from a mortgage adviser is advisable.

Missed Payments

Late or missed payments on credit agreements such as a personal loan or credit card suggest financial instability to some lenders. Previous mortgage arrears will make it particularly difficult to secure a new mortgage.


Bankruptcy is a serious financial event that stays on your credit file for six years. Most lenders will not consider formerly bankrupt applicants. While it will pose challenges, you may still be approved for a mortgage if enough time has passed to satisfy the lender.

Debt Management Plans/Debt Relief Order (DRO)

Getting a mortgage while on a Debt Management Plan or after a DRO is difficult but not impossible, although you will have a smaller pool of lenders to choose from and will likely face a higher interest rate.

Bad Credit Mortgage Application Process

The application process for an adverse credit mortgage is the same as a standard mortgage, but you should allow more time as there will be additional scrutiny due to the credit risk involved. Here’s an overview of the typical steps involved:

  1. Consultation – Schedule a consultation with specialist brokers like Goldmanread to discuss your financial situation, credit history, and homeownership goals. Our team will assess your eligibility for a bad credit mortgage and present you with your options.

  2. Mortgage Application – Once a suitable lender is identified, we will assist you in preparing and submitting your mortgage application.

  3. Credit Check – The lender will conduct a thorough credit check to assess the extent of your bad credit history.

  4. Documentation – You must present your documentation, including proof of income, bank statements, employment history, and details of your financial commitments, to prove to the lender that you can afford the mortgage payments. As an adverse credit applicant, you may have to provide more evidence of your income than usual.

We will remain in contact with you throughout the process until completion to ensure everything goes smoothly.

How to improve a bad credit score

At Goldmanread, we empower clients to take proactive steps to improve their creditworthiness. This includes checking your credit report with a reputable credit reference agency and reducing your debt.

  • Check Your Credit Score – You can do this online with one of the three main credit reference agencies: Experian, Equifax, and Transunion. There may be mistakes contributing to your low credit score, which you can rectify.

  • Make Timely Monthly Payments – Consistently making on-time monthly repayments is one of the most effective ways to boost your credit score. Set up automatic payments or reminders to ensure you never miss due dates.

  • Avoid Taking Further Credit – Each time you apply for new credit, it can have a temporary negative impact on your credit score.

  • Prioritise Outstanding Debts – While paying off debts may not immediately remove them from your credit report, it demonstrates responsible financial behaviour.

Goldmanread Can Help You Get a Bad Credit Mortgage

At Goldmanread, we’re committed to finding mortgage deals for individuals with an adverse credit history. We have a wide network of high street and specialist lenders and can guide you towards the right one for your circumstances.

Contact us today to find out how we can help you secure a mortgage with bad credit.

The minimum credit ratings accepted by lenders vary. While traditional lenders may have stringent requirements, we work with a range of specialist lenders who will consider bad credit applicants more favourably.

In joint mortgage applications, both partners' credit histories will be considered. While your partner's bad credit may impact the mortgage terms, it doesn't necessarily mean automatic rejection. Generally, it can only affect your credit file if a financial association exists, such as a joint account.

Self-employed individuals often face more challenges getting a mortgage, without the extra burden of bad credit. However, Goldmanread specialises in self-employed mortgages and can approach specialist lenders that consider the self-employed for a bad credit mortgage.

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