Can I get a mortgage with bad credit?
Yes — having bad credit doesn’t mean you can’t get a mortgage. While some lenders may decline your application, many specialist lenders work specifically with people who’ve had credit issues. These might include missed payments, defaults, County Court Judgments (CCJs), or even discharged bankruptcies. A Birmingham broker will review your credit file and match you with lenders likely to approve your application. They’ll also help explain any past problems and highlight your current financial stability. With the right guidance, many people with adverse credit still secure a mortgage — often with just a slightly higher deposit or interest rate.
What counts as ‘adverse credit’?
Adverse credit includes anything that negatively affects your credit score. This can range from missed loan or credit card payments to more serious issues like defaults, CCJs, Individual Voluntary Arrangements (IVAs), or previous bankruptcies. Even having lots of payday loans or recent credit applications can raise red flags for lenders. A mortgage broker in Birmingham will look at your full credit profile and help you understand how lenders might view it. Not all issues carry the same weight — for example, a missed phone bill years ago may have less impact than a recent CCJ. A broker helps put things in context and builds a case around your current circumstances.
How long do I need to wait after a credit issue to apply for a mortgage?
It depends on the type and severity of the issue. Minor problems, like missed payments, may only need 6–12 months of good conduct. More serious issues, like bankruptcies or IVAs, may require a wait of 3–6 years. A Birmingham broker can assess your current credit report and let you know which lenders will consider you — and when. Some lenders accept applications sooner if there’s a good explanation and you can show financial stability. A broker’s advice is key to timing your application right. They’ll help you avoid unnecessary rejections and find a lender that matches your situation and goals.
Do I need a bigger deposit if I have bad credit?
In most cases, yes — lenders see applicants with adverse credit as higher risk, so a larger deposit helps offset that. While some lenders accept 5–10% deposits for clean credit, you may need 15–25% if you have a poor credit history. Birmingham brokers can advise how much you’ll need based on the specific credit issues and how recent they are. They’ll also help you explore options for gifted deposits or equity if you’re remortgaging. The larger your deposit, the better your chances of approval and the more competitive your rate is likely to be.
Will applying for a mortgage damage my credit further?
If done carefully, no — but too many applications in a short time can negatively affect your score. This is where a broker makes a big difference. They’ll carry out a soft check first to assess your eligibility, then only submit a full application when they’re confident of approval. Birmingham brokers understand how credit scores work and how to avoid unnecessary searches. They’ll also advise on things like clearing old debts or avoiding new credit applications before applying. By managing the process strategically, they protect your credit and increase your chances of success.
Are interest rates higher for people with bad credit?
Yes — generally, lenders charge higher interest rates to offset the increased risk of lending to someone with adverse credit. That said, rates can vary widely depending on how recent and severe the credit issues are. A broker will compare multiple lenders to find the best available deal based on your profile. In Birmingham, where house prices are relatively affordable in many areas, a slightly higher rate may still work out well overall. A broker will also suggest ways to improve your score and potentially refinance at a better rate later. The key is getting a mortgage that works now, with a view to improving over time.
Can I get a mortgage if I’ve been declined before?
Yes — being declined once doesn’t mean you’re out of options. In fact, it’s a common reason people turn to brokers. Birmingham mortgage brokers will review your application history, check your credit report, and work out what went wrong. Often, rejections happen due to small errors, poor lender matches, or missing documents — not because you’re un-mortgageable. A broker will guide you to a more suitable lender and prepare your application properly this time. They’ll also advise you on any short-term steps to strengthen your case. One “no” doesn’t mean you’ll get another — not when your application is in expert hands.
What’s the difference between a specialist lender and a high street lender?
High street lenders often have stricter criteria and automated systems that reject applications based on credit score alone. Specialist lenders, on the other hand, assess each case individually. They may accept applicants with defaults, CCJs, or previous debt issues — as long as there’s a good explanation and stable income. Birmingham brokers work with both types and know which is most likely to approve your application. While specialist lenders may charge slightly more, they often provide flexible solutions for people with complex financial histories. A broker’s job is to match you with the right type of lender for your situation — not just the cheapest name on a list.
Why should I use a broker for an adverse credit mortgage?
If you’ve had credit issues, a broker can be the difference between a declined application and an accepted one. They understand how different lenders assess risk, how to structure your application, and which providers are open to your situation. Birmingham brokers have helped many people rebuild their financial futures through smart, realistic mortgage planning. They’ll help you avoid unnecessary credit checks, advise on improving your profile, and give honest feedback about your chances. Most importantly, they’ll treat you with respect — not judgement — and work hard to get you the right deal, even when others say no.
