Can I still get a mortgage if I have a poor credit history?

Possibly – it all depends on how “poor” your credit history is. You will need to discuss your circumstances with a professional mortgage broker who will know what action can be taken.

Thereafter, any application may need to be made to a mortgage lender who will consider borrowers with an impaired credit history. Such lenders are known as sub-prime mortgage lenders.

A sub-prime lender charges higher rates of interest than mainline high street mortgage lenders to reflect the extra risk of their lending. Unfortunately, if you have a poor credit history there may be no other option.

However, a few mainline lenders are offering mortgage deals to people who have had some debt problems in the past – but it all depends on your details and they will still charge higher interest rates to reflect the risks.

If you have any doubt, it’s wise to get a copy of your credit history from the big credit agencies and then you’ll know what a mortgage lender will find out about your history. Sometimes people apply to a sub prime lender when in fact their report is not that bad and certain high street mortgage lenders may be prepared to consider their application.

It all takes experience and that’s why we recommend that you speak to an experienced mortgage adviser.