Adverse credit mortgage broker
Our initial consultation service is free. If you decide to proceed with a mortgage application, you may have to pay a fee depending on your circumstances and credit history. Better.co.uk charges a fee of £199 for the administration of your application with an additional 0.3% of your loan amount charged on approval of the mortgage should you fall under our definition of "Adverse".
We have access to...
16 specialist lenders for adverse credit
thousands of deals
we'll give you right advice
we'll find you a suitable mortgage
In the last 6 months, we've...
helped hundreds of adverse customers
secured adverse deals from big lenders
Adverse credit criteria
We may define the customer as being Adverse if they meet one or more of the below criteria:
More than 1 default for the last 5 years
Any outstanding CCJs in the last 5 years
More than 1 satisfied CCJ in the last 5 years or with a value over £500
More than 3 missed Payments within the last 12 months
IVA or Bankruptcy Detected
Who can get an adverse credit mortgage with Better.co.uk?
We can generally help you if, in the past 6 years, you have not had:
any unsatisfied CCJs
your home repossessed
an Individual Voluntary Agreement (IVA) or Debt Management Plan. Unless it was discharged more than three years ago, and you have a mortgage deposit of at least 20%
Better.co.uk may charge you a fee for the administration of your application should you be deemed as having adverse credit.
Our initial consultation service is free. If you decide to proceed with a mortgage application, you may have to pay a fee depending on your circumstances and credit history. Better.co.uk charges a fee of £199 for the administration of your application with an additional 0.3% of your loan amount charged on approval of the mortgage should you fall under our definition of "Adverse"
Our administration fee will be refunded if we cannot find you a lender.
Adverse credit lenders
Out of more than 100 lenders that we work with, there are 16 lenders that specialise in helping people with adverse credit.
The Mortgage Lender
United Trust Bank
West Bromwich Building Society
Better.co.uk mortgage advisers will consider deals from a range of lenders, including high street and non-specialist lenders, to find the right deal for you depending on your individual circumstances.
Not all 'bad' or adverse credit is created equal. There are smaller cases of bad credit and more severe ones.
The extent your credit rating affects your application depends on:
the type of credit issue on your credit report
the amount involved
when the credit issue happened
Some issues have more impact than others. Lenders may not view a late mobile phone payment or a missed utility bill payment too seriously. But a missed mortgage payment or bankruptcy stays on your credit report for 6 years.
You may find more lenders if you use a broker, as they'll have more knowledge on a range of lenders that could help you.
Specialist lenders are more likely to accept and offer you a more flexible deal. Especially if you’ve faced illness, divorce, or other personal situations.
Lenders carry out affordability assessments. This is to check income and outgoings and assess your ability to meet your monthly payments.
This will also assess what effect future changes to interest rates might have on your ability to repay.
A lender bases the amount they'll lend someone with bad credit on the same things as a standard mortgage.
This is based on your individual or joint income time times multiplied by an agreed number.
This number varies between lenders and is often up to 4.5. They'll also consider any debts or commitments you hold.
You can get a shared ownership mortgage with bad credit, it’ll just be harder than it would be for someone with good credit.
Using a mortgage broker can help improve the process as they can advise you on the best lenders for bad credit mortgages.
A broker can also guide you through creating a good mortgage application that lenders are more likely to approve.
Yes, you can still get a joint mortgage when you have bad credit.
Lenders are more likely to accept if only one applicant has bad credit. If both applicants have poor credit, you may struggle as lenders might not trust you can afford to make all your payments.
Your best approach is to be honest about your credit issues so that your mortgage advisor can help you find the right mortgage with the right lender.
Lenders will want to know the following:
your relationship - are you married, cohabiting, or family?
your single or joint names
the ages of both applicants
whether you’re first-time buyers, next-time buyers, or investors
your employment status
both applicants’ income
if/how much outstanding credit you have
Remember that you’ll stand a better chance of getting a mortgage approved if you have a bigger deposit.
Get a mortgage in principle
Our free MIP is quick and simple to apply for and will strengthen your chances of securing your ideal home
Use our comparison tool to see and compare our best mortgage rates and deals
How to get a mortgage with bad credit
A guide to how to get a mortgage when you have bad or adverse credit
Important info & marketing claims
You may have to pay an early repayment charge to your existing lender if you remortgage. Your savings will depend on personal circumstances.
Your home may be repossessed if you do not keep up repayments on your mortgage.
*The savings figure of £420 is based on Better.co.uk remortgage customers in October 2023. Read more on our marketing claims page.
We can't always guarantee we will be able to help you with your mortgage application depending on your credit history and circumstances.
Average mortgage decision and approval times are based on Better.co.uk's historic data for lenders we submit applications to.
Tracker rates are identified after comparing over 12,000 mortgage products from over 100 mortgage lenders.
As of January 2023, Better.co.uk has access to over 100 lenders. This number is subject to change.
For buy-to-let landlords, there's no guarantee that it will be possible to arrange continuous letting of a property, nor that rental income will be sufficient to meet the cost of the mortgage.