Frequently asked questions
Here you will discover information that is additional how lousy credit make a difference an application, in line with the concerns we’re most often asked.
Can a mortgage is got by me without any credit check?
Not precisely. Whilst it’s impractical to get a house loan without any credit sign in the UK, loan providers aren’t generally speaking enthusiastic about your credit ‘score’ – they’re interested in just how your particular history ties in due to their financing requirements.
Within the UK, there isn’t any set minimum credit history to be eligible for home loan, but it may be possible to find a provider that ‘checks’ rather than ‘scores’ if yours is particularly low,.
May I obtain a second mortgage with bad credit?
As very long as you’re able to pass the affordability checks, the application for an additional loan will be authorized, even although you have actually dismal credit. The application form procedure will typically be just like very first, though if you’re nevertheless settling your first one, the primary concern is supposed to be whether you really can afford to generally meet both monthly obligations as well.
You meet the criteria whether you qualify for one will depend on the severity of your credit problems, how long they’ve been on your file and how closely. You’ll must also meet with the deposit needs, and for those who have woeful credit, you may want to pay a more substantial deposit. Read More →