Poor credit mortgages

Mortgages are available if you have a poor credit history, although your options will be more limited. If you think your credit history is less than perfect don’t worry too much because with our access to the whole of the mortgage market and our knowledge and expertise we are often able to help people even when they have been declined elsewhere.


Late and defaulted payments and County Court Judgments (CCJs) will all reduce your credit score and are often reasons why people are turned down, but we regularly achieve successful applications for our customers who fall into this category. A lot depends on the severity of the problems and how long ago they occurred.


Most lenders go through two main credit reference agencies for information on your financial pastExperian and Equifax. These agencies compile credit histories from a number of sources, including the electoral roll, County Court Judgments and existing and previous credit accounts. Each time you apply for a new form of credit it will leave an electronic footprint on your record. The decision to turn borrowers down for credit isn't made by Experian or Equifax but by the lenders themselves, based on their own lending conditions. 

It pays to do what you can before applying for your mortgage

The first thing is to make sure all your recent payments to creditors are made on time. If you are forced to miss a payment, tell the lender as soon as possible and catch up quickly if you can. Also, if you have outstanding late payments or defaults, try to pay them off.


Get your credit history from a credit reference agency and make sure everything is correct and up to date.


McCoy Mortgages is happy to give advice and apply for decisions in principle for adverse credit mortgages on behalf of both existing and new clients at no charge.