Residential
Can I get a mortgage with a 5% deposit?
Yes – 95% loan-to-value (LTV) mortgages are available from a number of lenders, some going even higher than that as well. A personal assessment will give you abetter understanding if you are eligible for it.
Can I use gifted money as a deposit?
Most lenders accept a gifted deposit from family, though they’ll usually require a signed letter confirming the money is a gift (not a loan) and that the person gifting it has no financial interest in the property. Some lenders have restrictions on who can gift a deposit or require additional checks, so it’s worth flagging this early in your application rather than after an offer has been accepted.
Can I get a mortgage if I have only just started work?
Possibly if the job is a permanent job. You will usually need to evidence your first month’s payslips as well as the employment contract.
Do I need a bigger deposit if I'm self-employed?
Not necessarily because of self-employment itself, but self-employed applicants are sometimes assessed more cautiously on income, which can affect how much you can borrow overall. We approach specific lenders that will accept a variety of income.
Can I use my company profits for a mortgage?
Yes, there are several lenders that will take into account your company profits. Always best to speak with us for a personal assessment as these are worked on several different calculations.
Can I get a mortgage with bad credit?
Often, yes. A range of specialist lenders in the UK consider applicants with adverse credit, including missed payments, defaults, CCJs, or historic debt problems. The options available, and the rate you’re offered, depend heavily on the type of adverse credit, how long ago it happened, and how it’s since been managed; so it’s worth having a proper conversation about your specific history rather than assuming you’re excluded from the market.
What counts as "adverse credit"?
Adverse credit covers a range of situations, including missed or late payments, defaults, County Court Judgments (CCJs), debt management plans, individual voluntary arrangements (IVAs), repossessions, and bankruptcy. Each is treated differently by lenders -a single missed payment several years ago is viewed very differently to a recent bankruptcy, for example.
How long does adverse credit stay on my file, and does it affect my mortgage application?
Most adverse credit remains on your credit file for six years from the date it was recorded. If you are liable for an IVA or DMP, they can be for much longer.
Can I get a mortgage after a CCJ?
Yes, in many cases. The rate you will be eligible for will depend on several factors like: the amount and number of CCJs, how long ago they were registered, and whether they’ve been satisfied (paid). Some mainstream lenders will consider small, older, satisfied CCJs, while larger, unsatisfied, or more recent judgments typically need a specialist lender.
Can I get a mortgage after an IVA or bankruptcy?
Yes, this is possible. Specialist lenders in this space assess these cases individually, and some will consider applicants relatively soon after discharge, provided the rest of the application is strong. This is very much a case-by-case area worth discussing directly.
Do I need a bigger deposit if I have adverse credit?
Often, yes lenders working with adverse credit typically require a larger deposit to offset the additional risk, commonly starting from around 10–15% depending on the severity and recency of the credit issue. That said, the required deposit varies significantly by lender and case, so it’s worth getting a proper assessment rather than assuming a fixed figure applies.
Will adverse credit mean a higher interest rate?
Generally, yes as mortgages for applicants with adverse credit tend to be seen as a higher risk to the lender. The gap varies depending on the type and severity of the adverse credit; older or less serious issues typically have a smaller impact on rate than recent, more significant ones.
Can I improve my chances of a mortgage after adverse credit?
Yes, a few things consistently help: keeping all credit up to date since the adverse event, reducing existing debt where possible, registering on the electoral roll, checking your credit file for errors and correcting them, and building a track record of on-time payments over time. A larger deposit and a clear explanation for what caused the adverse credit can also strengthen an application with specialist lenders.
Should I use a broker if I have adverse credit?
Yes, 87% of home buyers use a mortgage advisor, with adverse credit it is more important to know which lenders accept you as they are outside the mainstream market. A broker who works regularly in this space will typically know which lenders are realistically likely to consider your specific circumstances, which can save a lot of wasted applications and unnecessary credit searches
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