SPECIALIST SOLUTIONS
First-Time Buyer Mortgages With Bad Credit
Buying your first home with a less-than-perfect credit history can feel overwhelming. We'll help you understand exactly where you stand.
Buying Your First Home With Bad Credit
Getting onto the property ladder for the first time is daunting enough without a credit issue in the mix. Many first-time buyers assume that a missed payment, a small default, or a low credit score means they’ll be automatically rejected — but that’s often not the case.
As a first-time buyer, you won’t have a mortgage repayment history for lenders to look at, so they’ll pay close attention to how you’ve managed other credit — credit cards, phone contracts, car finance, rent — alongside your current income, deposit and any credit issues on your file.
What Lenders Look At
Deposit size. As a first-time buyer with bad credit, a bigger deposit (often 10-15%+) will open up considerably more options than the minimum 5% some schemes allow.
Type and age of the credit issue. A single, minor, or older issue is viewed very differently to something recent, large or ongoing.
Rental payment history. If you’ve been renting, a consistent record of paying rent on time can help demonstrate reliability, especially where this is reported to credit reference agencies.
Current income and job stability. Lenders want to see steady income that comfortably covers the new mortgage payment.
Schemes That May Help
Joint Borrower Sole Proprietor (JBSP). This lets a family member support your application by adding their income, without being named on the property title. It can be a useful option if your income alone doesn’t quite meet a lender’s affordability criteria.
Guarantor mortgages. Some lenders allow a family member to guarantee some or all of the mortgage, which can improve your chances with adverse credit or a smaller deposit.
Availability of these schemes alongside bad credit varies by lender, so it’s worth discussing your full circumstances with us before assuming any option is off the table.
First-Time Buyer FAQs
Can I get a mortgage as a first-time buyer with no credit history at all?
Yes, though having little to no credit history can sometimes be trickier than having a minor, resolved issue, since lenders have less to assess. Building some credit history in advance, such as a credit card used responsibly, can help.
What's the minimum deposit as a first-time buyer with bad credit?
This varies depending on your specific credit issue, but a deposit of 10% or more generally opens up meaningfully more options than the 5% minimum some standard schemes allow.
Can my parents help me get a mortgage if I have bad credit?
Yes, options like Joint Borrower Sole Proprietor mortgages or a guarantor arrangement let a family member support your application. These can be particularly helpful when combined with a credit issue that limits your options on your own.
Should I wait until my credit improves before applying?
Not necessarily. It’s worth getting an honest assessment first — in many cases a mortgage is achievable now, and if not, we can tell you what would improve your position and roughly how long that might take.
Ready to Explore Your Options?
Get a free, no-obligation assessment of your first-time buyer mortgage options, whatever your credit history.