MORTGAGE LENDERS
FOR POOR CREDIT

The score the lender sees will depend on which credit referencing agency they use. For example:

• Experian gives a credit score out of 999. They classify a ‘good’ credit score to be anywhere between 881 and 960. And a ‘fair’ or ‘average’ score is between 721 and 880.
• Equifax gives a credit score out of 700. They class a ‘good’ credit score as anything that’s 420 or above.
• TransUnion gives a credit score out of 710. Scores between 604-627 are considered ‘good’ and scores of 628 and above are considered ‘excellent’.

Where your credit score is less than good you may struggle to get a mortgage with low deposits. Anything less than fair and you may struggle altogether.

Whatever the issue is, it’s best to get a copy of your credit report which can be done here using a 30 day free trial, then £14.99 a month - cancel online anytime

BUT whatever the reason, getting low credit score mortgages are exactly what we specialise in, so call one of our brokers now!

Yes, it is possible to obtain a mortgage with a low credit score. For many years, we have been experts in this market. Typically, lenders will require a minimum credit score for mortgage approval, but there are options available for borrowers with low credit scores. Here at ams: we work with lenders who specialise in low credit score mortgages. From our experience, mortgage lenders for poor credit are willing to consider individual circumstances and not just credit data in isolation.

No, not all applications for poor credit score mortgages are accepted. Each lender has their own criteria for approving or denying a mortgage application. Applicants with a low credit score will be required to meet additional criteria and possibly provide additional documentation to be approved. We will have a look into all cases and assess them on an individual basis.

If you visit www.creditexpert.co.uk, you can sign up for a free 30-day trial with Experian. They are a leading credit search company in the UK. With the details on your credit report, you can typically get a response within an hour.

There are numerous factors that can cause your credit score to decline and negatively impact your creditworthiness. Some examples include:

• Failure to make credit card, loan, or mortgage payments on time
• Having an IVA or being declared bankrupt for debt repayment purposes
• Records of County Court Judgements (CCJs)/defaults made against you
• A lack of any credit history
• If you have borrowed money through a payday loan
• If you have made an excessive number of enquiries about your credit report
• If you have previously been a victim of identity theft

At ams: we maintain direct contact with the leading UK underwriters. This enables us to discuss each situation independently and carefully before sending off the application for approval.

If your mortgage application is rejected by a high street lender, you can try applying to alternative mortgage lenders for poor credit. Mortgage lenders for poor credit are more flexible and may be willing to accept your mortgage application even if high street lenders have declined it. Here at ams: we use lenders who are specialists in the adverse credit market.

We strive to give you a decision in principle within an hour once we have all the necessary information.

Between 10-15% – although this does depend on the results of your credit file. The mortgage lenders for poor credit see you as a higher risk if there is a lot of adverse credit on your file and may therefore require a higher deposit.

We also recommend reading the following article on this topic:

• What is a bad credit score?

Yes, it is possible to get a mortgage with a low credit score with some income being received from benefits. However, it is important to remember that lenders will consider other factors such as your total income, credit history, and overall financial situation. Depending on your specific circumstances, you may be able to get approved for a mortgage. That is where ams: can help with poor credit score mortgages, our team of experts can approach the most suitable lenders for your circumstances.