First-Time Buyer Mortgages With Bad Credit
A less-than-perfect credit history doesn't rule out buying your first home. Without a mortgage track record to assess, lenders look at how you've managed other credit and rent, alongside a deposit of 10% or more, which opens up meaningfully more options.
Get Your Free First-Time Buyer AssessmentGetting onto the property ladder for the first time is daunting enough without a credit issue in the mix. Many first-time buyers assume a missed payment, a small default, or a low credit score means an automatic rejection — but that’s often not the case.
As a first-time buyer, you won’t have a mortgage repayment history for lenders to look at, so they’ll pay close attention to how you’ve managed other credit instead — credit cards, phone contracts, car finance, rent — alongside your current income, deposit and any credit issues on file.
Where credit issues limit what you can borrow on your own, schemes like Joint Borrower Sole Proprietor mortgages or a guarantor arrangement can help a family member’s income boost your affordability without adding their name to the property.
What Lenders Look At
Deposit size
As a first-time buyer with bad credit, a bigger deposit — often 10-15% or more — opens more options than the minimum some standard schemes allow.
Type and age of the credit issue
A single, minor or older issue is viewed very differently to something recent, large, or ongoing.
Rental payment history
Consistent rent payments demonstrate reliability to a lender, particularly where they're reported to a credit reference agency.
Current income and job stability
Steady income that comfortably covers the proposed mortgage payments is essential to any first-time buyer application.
First-Time Buyer Mortgages With Bad Credit FAQs
Can I get a mortgage as a first-time buyer with no credit history at all?
Yes, though limited credit history presents its own challenges. Building credit responsibly in the run-up to applying helps considerably.
What's the minimum deposit as a first-time buyer with bad credit?
A deposit of 10% or more generally opens up meaningfully more options than the 5% minimum some standard schemes allow.
Can my parents help me get a mortgage if I have bad credit?
Yes, through a Joint Borrower Sole Proprietor (JBSP) mortgage or a guarantor arrangement.
Should I wait until my credit improves before applying?
Not necessarily. It's worth getting an honest assessment first — in many cases a mortgage is achievable now.
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