Missed a payment, used an overdraft or had credit problems in the past? It’s easy to assume that bad credit means you can’t get a mortgage, but don’t rule yourself out before you’ve checked.
Bad credit does not automatically stop you getting a mortgage. Lenders look at the type of credit problem, how serious it was, when it happened and your wider financial circumstances. Your choice of lenders may be smaller and borrowing could cost more, but there can still be mortgage options available.
Why do so many buyers think bad credit means an automatic ‘no’?
It’s a surprisingly common mortgage myth. Research published by the HomeOwners Alliance in 2026 found that 65% of aspiring homeowners believed having bad credit meant they could not get a mortgage.
In reality, mortgage applications aren’t simply divided into people with a perfect credit score and everybody else.
Different lenders have different criteria. One lender may be uncomfortable with something on your credit history while another may be prepared to consider it, depending on what happened and your circumstances now.
That doesn’t mean every credit problem can be overcome. It means it’s worth finding out what’s actually possible before deciding for yourself that home ownership is off the table.
What does ‘bad credit’ actually mean to a mortgage lender?
There isn’t one universal definition. Your credit history could include late or missed payments, defaults, County Court Judgments (CCJs) or other financial difficulties.
What happened matters, but so does when it happened.
A lender may look at how recent the problem was, the amount involved, whether it has been settled and whether your finances have been well managed since. They’ll also consider the rest of your application, including your income, deposit, existing commitments and whether the mortgage is affordable.
That’s why comparing yourself with a friend who was accepted or declined isn’t particularly useful. Two applicants who both describe themselves as having ‘bad credit’ could have very different circumstances.
Can I get a mortgage with bad credit?
Potentially, yes. Some mainstream and specialist lenders consider applicants whose credit history is less than perfect.
There can be trade-offs. You may have fewer mortgage products to choose from, a lender might require a larger deposit, and the available products could be more expensive than those available to somebody with a stronger credit profile.
Rates and criteria vary, so the important thing is not to make multiple applications at random hoping that one will work.
Instead, it can make sense to understand your credit position first and identify lenders whose criteria are more likely to fit your circumstances.
Should I improve my credit before applying for a mortgage?
Sometimes waiting and improving your position is sensible. In other cases, you may already have options worth exploring.
A useful first step is to check your credit reports and make sure the information recorded about you is accurate. If something is wrong, contact the relevant organisation or credit reference agency to get it corrected.
It’s also worth avoiding unnecessary new borrowing in the run-up to a mortgage application and making sure bills and existing credit commitments are paid on time where possible.
Most importantly, don’t assume you need to spend years trying to achieve a mythical ‘perfect’ credit score before asking for advice.
Why speaking to a broker can make a difference
If your circumstances aren’t completely straightforward, knowing which lender to approach can be particularly important.
Going directly to one bank tells you what that bank is prepared to offer. It doesn’t necessarily tell you what the wider mortgage market might offer.
At Wolsey Mortgage, we have access to more than 12,000 products from over 80 lenders. That means we can look at your circumstances and help identify lenders whose criteria may be a better fit, rather than treating every credit issue in exactly the same way.
Sometimes the answer may be that you’re in a position to apply now. Sometimes waiting, saving a larger deposit or improving part of your credit history may give you better options later. We’d rather explain that clearly than promise an outcome we can’t guarantee.
Frequently Asked Questions
How bad does my credit have to be before I can’t get a mortgage?
There isn’t one cut-off that applies across every lender. The nature, amount and age of any credit problems all matter, alongside your income, deposit, affordability and wider circumstances.
Will one missed payment stop me getting a mortgage?
Not necessarily. A lender will consider what was missed, how recently it happened and the rest of your financial circumstances. Criteria vary between lenders.
Do I need a bigger deposit if I have bad credit?
You may do, depending on the credit issue and lender. A larger deposit can sometimes widen your options, but there isn’t one deposit requirement that applies to everyone with adverse credit.
Should I apply to my bank first and see what happens?
Not necessarily. If you know there are credit issues in your history, getting advice before making applications can help you understand which lenders may be more suitable for your circumstances.
Can a mortgage broker guarantee I’ll be accepted?
No. Mortgage approval is always subject to the lender’s criteria, affordability checks and assessment of your application. A broker can help you understand and explore appropriate options, but cannot guarantee an acceptance.
Don’t rule yourself out before you’ve checked
If worries about your credit history are stopping you from exploring a mortgage, book a free chat with Wolsey Mortgage. We’ll look at your circumstances, explain your options in plain English and tell you where you stand. Appointments are available at a time and place to suit you.
Mortgage rates, products and lending criteria vary. Your home may be repossessed if you do not keep up repayments on your mortgage. Get in touch with Wolsey Mortgage for advice specific to your situation.