First Time Bad Credit Mortgage
  • Missed or late payments
  • Debt management plan
  • Discharged bankruptcy
  • Defaults or CCJ’s
  • IVA’s

Bad Credit Mortgages for First Time Buyers

First Time Buyers with Bad Credit

Getting the keys to your own front door is a fantastic feeling at any time; getting them for the first time should be a time of great excitement and celebration. Of course, before you get to put the key in the door, there are several obstacles to overcome; not least the fact that you have to arrange a mortgage. So what do you need to do to make that happen? And what additional things might you have to do if you have a poor or non-existent credit rating?

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Can First Time buyers get a mortgage with bad credit?

Bad credit mortgages are indeed available to first time buyers.  The situation of the applicant in this regard whether they be a first-time buyer or a homeowner is largely irrelevant with the decision to lend mostly being made depending on the level of bad credit the applicant has and also the amount of deposit or equity they have.  Many other factors however are taken into consideration when a lender assesses an applicant and therefore it is advisable to speak to a specialist bad credit mortgage broker who understands the market to see what your possible options may be.

Bad credit mortgages for first time buyers

Being a first time buyer can be an exciting time but also appear daunting where mortgages are concerned.  This can be compounded further when you have a history of bad credit that may affect your chances of being approved.  Although the fact you are a first time buyer will be taken into consideration, bad credit mortgages are still available.  The lender will make an assessment based on your overall situation including the specifics of your credit history and our advisers with their expert knowledge in this field will be best placed to source the right lender for needs.

Can a first time buyer get a mortgage with a low credit score?

Having a low credit score can be attributed to many things.  It could be that you have a history of bad credit that is affecting your rating or possibly for some first time buyers this could be down to the fact that you have little or no credit history.  The reason for the low credit score is perhaps the more critical element of you being approved for your mortgage however, being a first time buyer should not be seen as a negative point as this alone plays a very insignificant, if no part at all, in the lenders assessment.  All lenders use their own individual ways of making an assessment, and where some may use a very system led credit scoring process, others will use a more human approach making a manual credit check rather than relying on a computer generated credit score.

First Time Mortgages for Bad Credit

We pride ourselves on offering impartial advice on the most competitive first time mortgages for bad credit customers, and we will allow you your own personal adviser throughout the duration of the application process.

We recognise that for inexperienced first time buyers, this can be an important and extremely useful commodity.

We are also able to advise first time buyers on repairing their credit score, if it should have a negative effect on their ability to acquire a mortgage and help with its continued improvement as applicants secure their mortgage.

Our expert mortgage brokers can discuss your circumstances and advise you on the mortgages to meet your individual needs – get in touch today.