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Impaired Credit

If your credit record is less than perfect, securing an affordable mortgage can be a challenge. 
Fortunately, AA Mortgage Services are on hand to help make the process easier
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Can I get a mortgage with impaired credit?

An impaired credit history can be anything from a missed payment on a utility bill right through to bankruptcy, and all of them can have a negative impact on your ability to secure credit. As a general rule, relatively small credit problems such as a missed credit card payment won’t stop you from securing a mortgage. If, however, you’ve had more substantial issues such as a County Court Judgement (CCJ) against you in the previous six years, then you could struggle to find a lender who will accept you.

All is not lost, however. Even people with patchy credit histories can and do secure mortgages with some lenders being more open to a wider range of credit histories than others. An experienced mortgage advisor can conduct a thorough search of the mortgage market to find a lender who might be willing to consider you.

Why do I have impaired credit?

Many people only discover they have a problem with impaired credit when they come to apply for a mortgage and it can be for any number of reasons. A late credit card payment, a missed utility bill payment, or even issues relating to your address rather than how you’ve conducted your own financial affairs. For this reason it’s always advisable to check your credit history prior to making an application. If you already know you have impaired credit but would still like to apply for a mortgage, then contact AA Mortgage Services for discreet and professional advice.

Follow this link to access your credit report.
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How to get a mortgage with impaired credit

If you know you have impaired credit, then there are a number of things you can do to increase your chances of a mortgage application being successful. Firstly, you should ensure your finances are in good order and are currently meeting all of your commitments. This will, in turn, help you to rebuild your credit score over time.

Any lender will take a keen interest in your bank statements, income and outgoings to see how you are now managing your money. You can also keep a regular check on your credit score by checking your file. If you have any outstanding debts these should be paid off. If you can show potential lenders that you’ve successfully managed credit your application is more likely to succeed.
Can I get a mortgage with no credit history?
Very few people have no credit history at all. If you have a current account and have appeared on the electoral register, then you’re likely to have some kind of credit history. You may, however, have a low credit score not because you’ve mismanaged your finances in the past, but because you’ve not accessed credit sources such as loans or credit cards.

If you have had issues with your credit in the past, we at AA Mortgage Services will help you to get mortgage ready and make sure you are in a better position for a mortgage application.

We are here to help you

Speak to our experienced AA Mortgage adviser today
AA Mortgage Services, a trading style of AA Mortgage Services Ltd is an appointed representative of HL Partnership Limited, 
which is authorised and regulated by the Financial Conduct Authority.​

The Financial Conduct Authority do not regulate some aspects of buy to let and commercial mortgages. ​

The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.

There may be a fee for mortgage advice. The precise amount of the fee will depend upon your circumstances but will range from £295 to £695 and this will be discussed and agreed with you at the earliest opportunity.

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