First-time buyers with bad credit

Buying your first home is a major milestone, but securing a mortgage with bad credit can feel overwhelming. Fortunately, there are solutions available to help you overcome these challenges. Here’s everything you need to know.

Do you qualify?

Quickly find out your eligibility without a credit check!

An introduction to Bad Credit Mortgages

Will first-time buyers with bad credit face unique challenges?

You may be relieved to know that your experience of homeownership is largely irrelevant to a lender’s assessment. Their decision to lend is mostly made depending on the level of bad credit you have, as well as the amount of deposit or existing equity. You will not be penalised for being a first-time buyer.

What are bad credit mortgages for first-time buyers?

Bad credit mortgages are specifically designed to help those with poor credit histories achieve homeownership. As a first-time buyer, these mortgages give you a vital opportunity to get on the property ladder.

There are some key considerations to be aware of:

• Higher deposit requirements: Typically, between 15–25%, though some specialist lenders may accept less depending on your circumstances.
• Higher interest rates: Reflecting the increased risk, though rates can improve as you prove reliability over time.
• Focus on affordability and current financial behaviour:^[2] Even with past credit issues, demonstrating stability today can help you qualify.

Why should first-time buyers with bad credit work with a specialist bad credit broker?

As a first-time buyer, the mortgage market can feel like a maze. When bad credit is added to the equation, the stakes get higher. This is where a specialist broker becomes invaluable. Here’s why:

• Access to exclusive deals:
  • Many specialist lenders only work with brokers as intermediaries, offering products not available to the public.
• Tailored advice:
  • Our mortgage advisors assess your unique situation and match you with the best lender for your needs.
• Improved application success:
  • Our team will help to present your case in the best light, increasing your likelihood of approval.

What documents will lenders require?

To assess your eligibility, lenders typically request:

• Proof of income: Recent payslips, P60s, or tax returns for self-employed applicants.
• Bank statements: Usually covering the last 3–6 months, showing income and outgoings.
• Credit report: A full report from one of the major credit agencies.
• Details of your credit issues: Information on defaults, CCJs, or other adverse credit
• Proof of deposit: Evidence of savings or gifted funds.

Why choose Just Mortgage Brokers for your Bad Credit Mortgage?

• This is our speciality – it’s what we do
• Direct access to lenders underwriters enabling us to discuss your situation in detail
• Exclusive deals available
• Broker only bad credit lenders available to us giving you greater choice
• Unlimited mortgage broker – giving a wide range of lenders at our disposal
• Great customer reviews