Can you get a mortgage with bad credit?
Generally, you should be able to get a mortgage if you've got some degree of bad credit. Certain things like missing mortgage payments, taking out payday loans regularly, having a recent County Court Judgement or being bankrupt, however, will make it nearly impossible.
It's important to note that, although there may be some historical credit issues, not every lender will view the situation in the same way. There may be old defaults on credit arrangements or County Court Judgements (CCJs) but some lenders will look at these more sympathetically than others. We have been able to place mortgages at normal interest rates for people who have been discharged from bankruptcy or have a satisfied Individual Voluntary Arrangement (IVR) after very few years.
Secondly, some banks are set up to consider individual cases on their own merits. They often exist to provide finance specifically for those who have had a difficult time in the past. Although interest rates may be a little higher than well-known lenders, they are still likely to be reasonable because rates generally are so low.
Many people with bad credit assume they'll never be able to get a mortgage or loan as a result, this simply isn't the case and we often find people think their situations are worse than they actually are, there are a huge number of lenders active in the mortgage market, each with a unique view of credit profiles, it's just a case of finding you the right one.