Getting a Mortgage with Bad Credit

Why is getting a mortgage or remortgage less straightforward if you have poor credit? It’s to do with the way in which lenders make the decision of whether and how much to lend to you. Lenders will base their decisions on a number of different factors. How much do you want to borrow? How much do you earn? What outgoings do you have? And, the big one for people with a history of bad credit, how have you handled your financial responsibilities in the past?

Your credit history gives lenders a snapshot of your past relationship with money. Problems with loans, credit cards or mortgages in the past? They are all there for lenders to see. For many lenders actions they consider poor financial behaviour can have a strong negative impact on their likelihood to lend to you. But that’s not the full story.