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Having a poor credit history doesn’t mean you can’t get a mortgage, but lenders may see you as a higher risk.
This could mean stricter criteria, a higher deposit requirement, or increased interest rates.
Factors such as missed payments, defaults, and CCJs can all impact your chances.
That said, there are lenders who specialise in helping those with a less-than-perfect credit history.
A mortgage broker in Scunthorpe such as ourselves, can assess your situation and connect you with lenders more likely to approve your application.
Unlike standard mortgage products, bad credit mortgages in Scunthorpe are designed for applicants who may struggle to meet the strict lending criteria of high street banks.
These mortgages often have higher interest rates and require larger deposits to reduce the lender’s risk.
Instead of relying solely on automated credit scoring, specialist lenders look at factors such as income, affordability, and recent financial behaviour.
Speaking with one of our expert mortgage advisors in Scunthorpe can help you explore lenders who take a more flexible approach.
Finding the right mortgage when you have a poor credit history can be challenging, especially if you’re unsure which lenders are willing to consider your application.
Many specialist lenders are not available directly to the public, meaning your options could be limited without professional support.
As providers of expert mortgage advice in Scunthorpe, we have access to these lenders and can guide you through the application process, helping you improve your chances of securing a suitable mortgage.
Bad credit refers to any financial issues that have negatively affected your credit history.
This can include missed or late payments on credit agreements, defaults, County Court Judgements (CCJs), Individual Voluntary Arrangements (IVAs), Debt Management Plans (DMPs), and bankruptcies.
These factors indicate to lenders that you may have struggled to manage debt in the past, which can make it more challenging to secure a mortgage.
When applying for bad credit mortgages in Scunthorpe, lenders will assess the severity and recency of these issues.
A single late payment from several years ago is less concerning than a recent CCJ or ongoing DMP.
Some lenders take a more flexible approach, especially if your finances have improved.
Yes, applicants with a poor credit history are often required to provide a larger deposit.
While standard mortgages may be available with a 5% deposit, those applying for bad credit mortgages in Scunthorpe may need to put down at least 15% to 25%, depending on the severity of their credit issues.
A larger deposit reduces the risk for lenders and can also improve the terms of your mortgage.
It may help you secure a lower interest rate and increase your chances of approval.
Yes, it’s possible to get a mortgage after bankruptcy, but it depends on how long ago your bankruptcy was discharged and how well you’ve managed your finances since.
Most high street lenders require at least six years to have passed before considering an application.
However, some specialist lenders offering bad credit mortgages in Scunthorpe may consider applicants sooner.
No, most mainstream lenders have strict lending criteria and may not accept applications from those with a poor credit history.
However, there are specialist lenders who focus on bad credit mortgages in Scunthorpe, considering applicants on a case-by-case basis rather than using automated credit scoring alone.
These lenders take a more flexible approach, looking at factors such as your current financial situation, employment stability, and affordability.
Yes, interest rates for bad credit mortgages in Scunthorpe are typically higher than those for standard mortgages.
This is because lenders see applicants with a poor credit history as a higher risk.
The extent of the rate increase depends on factors such as your deposit size, income stability, and how long ago the credit issues occurred.
However, securing a mortgage now doesn’t mean you’ll always have to pay higher rates.
As you rebuild your credit and demonstrate financial responsibility, you may be able to remortgage to a better deal in the future.
Each time you apply for a mortgage, a lender will carry out a hard credit check, which leaves a mark on your credit file.
If multiple applications are made within a short period, this can lower your credit score and make it appear as though you’re struggling to secure credit.
To avoid unnecessary credit checks, we can help you find lenders who are more likely to approve your application, reducing the risk of multiple rejections.
Yes, using a mortgage broker in Scunthorpe can significantly improve your chances of securing a mortgage, especially if you’ve been turned down by high street banks.
We have access to specialist lenders who are more open to applicants with a poor credit history.
In addition to finding the right lender, a broker will handle the application process, ensuring all necessary documents are in place and helping you present your case in the best possible way.
This can save time, reduce stress, and increase your likelihood of approval.
Most negative marks stay on your credit file for six years. This includes missed payments, defaults, CCJs, IVAs, and bankruptcies. However, their impact on your mortgage application decreases over time, especially if you demonstrate improved financial management.
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Jayne
Dinah Harros was our mortgage broker and she was extremely polite, professional and diligent. She took time to really listen and understand our financial situation and recommend the perfect mortgage product for us. Dinah was easy to contact and...
1 year ago
Donna
FANTASTIC AND OUTSTANDING SERVICE!! Unfortunately the purchase of our new home was rather difficult, we had devaluations and chains falling through, so to say the least it was testing!! we had a very stressful, hard 7 months to get to the...
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Stuart
Dealt with my mortgage arrangement and application in super quick time. Very efficient and would recommend to everyone.
2 years ago
Rebecca
Leo and Lyndsey were fantastic! No issues at all, and all very quick and efficient. Thankyou so much
2 years ago
Anonymous
She was so helpful. I felt hopeless after just having my mortgage declined by a high Street bank and she's given me some hope again.
3 years ago
Akvile
Amazing and really friendly service. Really glad I choosed this company for my remortgage. I would definitely recommend this company to everyone
3 years ago
Jonathan
I would highly recommend Scunthorpemoneyman to anybody needing the service. They have been very quick to respond to any questions and I have had to do next to nothing through the hole process they have handled everything brilliantly.
4 years ago
Samanatha
Fantastic advice and guidance throughout the full process. Malcolm and his team were extremely knowledgeable, efficient and responsive during our mortgage application. When we came across obstacles, these were dealt with quickly and advice given on...
4 years ago
Amelia
Absolutely fantastic service from all at Scunthorpe money man. The staff are so friendly and helpful, nothing is too much trouble, any questions answered. Kept up to date all the way through, I would recommend to anyone. Many thanks for all...
5 years ago
Samantha
Outstanding service from start to finish with every member of the team helpful and friendly. I could rely on them for advice and updates at all stages.
5 years ago
Thomas
Wow..... what a fantastic team they are Matt,Mel and Wendy did a fantastic job for me been messed around by other brokers in the past but from the very first phone conversation I knew they had my best interests. Fantastic communication always kept...
5 years ago
Anonymous
Thanks so much to the team. You made everything so easy and clear. I would highly recommend your services.
6 years ago
Richard
Great communication from start to finish and even after finding a mortgage deal for us Jason kept looking and found a even better one at .5% less
6 years ago
Jayne
A fabulous company to deal with who put my mind at ease and everything that they required in the manner of documentation was never a problem, Matt, Leanne and Wendy kept in constant contact with me and gave me a 5 star service, in actual fact it was...
6 years ago
Kenneth
I can’t thank Matt and Mizna enough for all there help and hard work! Nearly time to sign for our house and it wouldn’t have been possible without the help of Scunthorpe Money Man! Thank you all!!
6 years ago
Sophie
Absolutely fantastic staff! I stumbled across Scunthorpe Money Man on google, with just one call the ball was rolling...fast, efficient, friendly and supportive. People say mortgage applications are stressful and boy they are not wrong but with the...
6 years ago
Chris
Very happy with the service provided, Excellent service from start to finish. I would definitely recommend Scunthorpe Moneyman and would use them again in the future. 5* Experience.
7 years ago
The first step is to discuss your situation with a mortgage advisor in Scunthorpe.
If you have a history of missed payments, defaults, CCJs, or other credit issues, we will review your financial circumstances and explore the options available.
We’ll assess your credit history, income, and affordability to determine the best approach to securing a mortgage.
Once we understand your financial position, we’ll search the market for the most suitable bad credit mortgages in Scunthorpe.
Many specialist lenders are not available directly to the public, but we have access to lenders who take a more flexible approach.
By matching you with the right mortgage provider, we increase your chances of securing a deal that suits your needs.
After selecting the most suitable mortgage, we’ll handle the application process on your behalf.
This includes gathering the necessary documents, such as proof of income, deposit funds, and credit history details.
Lenders offering bad credit mortgages in Scunthorpe may have additional requirements, but we’ll ensure your application is presented in the best possible way to maximise your chances of approval.
Once the lender has reviewed your application and carried out their checks, they will issue a formal mortgage offer.
Your solicitor will then handle the final legal steps, including contracts and property searches.
As soon as everything is completed, you’ll be ready to move forward with your mortgage and secure your new home.
Getting a mortgage with a poor credit history can feel overwhelming, especially if you’ve been turned down by high street banks.
We specialise in helping those with adverse credit, working with lenders who take a more flexible approach.
Whether you have missed payments, defaults, CCJs, or a low credit score, we can explore your options and guide you towards a suitable mortgage.
Every applicant’s situation is different, which is why we offer tailored mortgage advice in Scunthorpe. We take the time to understand your financial background, assess your eligibility, and provide clear, practical guidance.
Whether you’re a first-time buyer, moving home, or looking to remortgage, we’ll help you navigate the mortgage process with confidence.
Unlike banks that only offer their own products, we have access to a wide range of lenders, including those who specialise in bad credit mortgages in Scunthorpe.
These lenders consider applications on a case-by-case basis, rather than applying strict automated criteria.
This means we can match you with lenders who are more likely to approve your mortgage, even if you have a less-than-perfect credit history.
Applying for a mortgage can be complicated, especially if you’ve had credit issues in the past.
Our mortgage broker in Scunthorpe handles everything for you, from finding the right lender to submitting your application and dealing with any paperwork.
We’ll keep you updated throughout the process, ensuring everything runs smoothly from start to finish.
Having a County Court Judgement (CCJ) on your credit file can make securing a mortgage more difficult, as many high street lenders have strict criteria.
If the CCJ was recent, some lenders may automatically decline your application.
However, there are specialist lenders offering bad credit mortgages in Scunthorpe who take a more flexible approach and consider applications on an individual basis.
Lenders will look at several factors when assessing a mortgage application from someone with a CCJ. The date of the CCJ is important, as older CCJs tend to have less impact.
If it was issued more than six years ago, it may no longer appear on your credit report and may not affect your application at all.
Whether the CCJ has been satisfied can also make a difference, as lenders may be more willing to consider your application if the debt has been fully repaid. The size of the CCJ also plays a role, with smaller, settled amounts seen as less of a concern.
A default on your credit file occurs when a lender formally records that you have failed to meet repayments.
This can be a red flag for many banks and building societies, but it does not mean you won’t be able to secure a mortgage.
There are lenders offering bad credit mortgages in Scunthorpe who take a more flexible approach and may still consider your application.
When assessing an application with a default, lenders will take into account several factors. The timing of the default is crucial, as older defaults are generally viewed more favourably than recent ones.
Defaults that occurred three or more years ago may have little impact, whereas a more recent one could make securing a mortgage more difficult.
Lenders will also consider the reason behind the default. If it was due to an unavoidable situation, such as illness or redundancy, some lenders may be more understanding.
They will also look at how you have managed your finances since the default. If you have kept up with payments and avoided any further missed payments, this can improve your chances of approval.
A low credit score can make securing a mortgage more challenging, as many high street lenders use strict automated systems that decline applications based solely on a low score.
However, there are lenders specialising in bad credit mortgages in Scunthorpe who look beyond just the credit score and assess affordability, income stability, and financial management.
A low credit score can occur for several reasons. Missed or late payments on credit agreements, such as loans or credit cards, can have a negative impact on your score.
In some cases, a low score may not be due to poor financial management but rather a limited credit history, where there is not enough information for lenders to assess how reliable you are.
High credit utilisation, where you are using a large percentage of your available credit, can also lower your score, even if you make payments on time.
While a low credit score may limit mortgage options, there are ways to improve your chances of securing a mortgage.
Maintaining on-time payments for all financial commitments, reducing existing debt, and ensuring your credit report is accurate can all help to strengthen your application.
A Debt Management Plan (DMP) is an informal agreement with creditors to repay debts in a more manageable way.
While a DMP can demonstrate that you are taking steps to improve your financial situation, some lenders view it as a sign of past financial struggles.
This can make securing a mortgage more difficult, but it is still possible with the right lender.
When considering an application from someone with a DMP, lenders will assess several factors.
If the DMP is still active, some lenders may be hesitant, while others may be willing to consider an application if the repayments have been maintained without any missed payments.
Some lenders may require the DMP to be fully settled before approving a mortgage, while others may accept an application while it is still in place, provided that the applicant has demonstrated responsible financial management.
The length of time since entering the DMP can also make a difference.
If the plan was started several years ago and has been well managed, lenders may be more willing to consider an application.
A larger deposit can also improve mortgage options, as it reduces the risk for lenders.
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Scunthorpemoneyman.com & Scunthorpemoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 9 Gallows Lane, Beverley, United Kingdom HU17 7FJ.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk.
© Scunthorpemoneyman 2025.
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Scunthorpemoneyman.com & Scunthorpemoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 9 Gallows Lane, Beverley, United Kingdom HU17 7FJ.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk.
© Scunthorpemoneyman 2025.
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