Adverse credit Mortgage Advice
A difficult credit history does not automatically mean you cannot get a mortgage. What it does mean is that you need the right broker and the right lender. Not all lenders will look at your application in the same way, and some will decline automatically where others will consider the full picture.
At Aspect Mortgages, we help clients with adverse credit find a route to homeownership that works for their circumstances. We are honest about what is realistic, we know which specialist lenders to approach, and we will not waste your time or risk your credit file on applications that are unlikely to succeed.
If you have credit issues and are not sure whether a mortgage is possible, call us on 01257 812345 or enquire below. A conversation costs nothing.
Whole of market access We search thousands of mortgage products from lenders across the market - not just a handful from one bank. That means a better chance of finding the right rate for your circumstances.
Plain-English advice No confusing jargon. We'll explain everything clearly, answer every question, and make sure you feel confident at every step - whether we're talking on the phone, on a video call, or face to face.
One adviser, start to finish You'll deal with the same adviser throughout your entire journey. They'll know your case inside out and be on hand whenever you need them.
Everything in one place, securely Our secure client portal lets you share documents, view your credit file, and follow your case progress at any time - from any device. It's a simpler, faster way to keep things moving.
Our standard advice fee is £495 We won't punish you for a difficult credit history and our fee is the same you would pay for a 'prime' mortgage.
What counts as adverse credit?
1. Missed or late payments
Payments missed on credit cards, loans, or a previous mortgage. The more recent and the more frequent, the more impact they have. One or two older missed payments are often manageable with the right lender.
2. Defaults
A default is recorded when you have missed several payments and the lender has formally closed the account. Defaults stay on your credit file for six years. Satisfied defaults - where the debt has been repaid - are viewed more favourably than unsatisfied ones.
3. County Court Judgements (CCJs)
A CCJ is issued by a court when a debt has not been repaid. Like defaults, they remain on your file for six years. A satisfied CCJ (one that has been paid) incurs less of a penalty than an outstanding one.
4. Individual Voluntary Arrangements (IVAs)
An IVA is a formal agreement to repay debts over time. It remains on your file for six years from the start date. Some specialist lenders will consider applications during or after an IVA, depending on circumstances.
5. Bankruptcy
Bankruptcy is the most serious form of adverse credit and has the greatest impact on mortgage options. Most mainstream lenders will not consider applications until at least three years after discharge; specialist lenders may consider sooner in limited circumstances.
6. Mortgage arrears or repossession
Previous mortgage arrears or a property repossession are treated very seriously by lenders. Options exist but are limited, and deposit requirements are typically higher.
Which types of credit issue do we commonly see?
1. Missed or late payments
Payments missed on credit cards, loans, or a previous mortgage. The more recent and the more frequent, the more impact they have. One or two older missed payments are often manageable with the right lender.
2. Defaults
A default is recorded when you have missed several payments and the lender has formally closed the account. Defaults stay on your credit file for six years. Satisfied defaults - where the debt has been repaid - are viewed more favourably than unsatisfied ones.
3. County Court Judgements (CCJs)
A CCJ is issued by a court when a debt has not been repaid. Like defaults, they remain on your file for six years. A satisfied CCJ (one that has been paid) incurs less of a penalty than an outstanding one.
4. Individual Voluntary Arrangements (IVAs)
An IVA is a formal agreement to repay debts over time. It remains on your file for six years from the start date. Some specialist lenders will consider applications during or after an IVA, depending on circumstances.
5. Bankruptcy
Bankruptcy is the most serious form of adverse credit and has the greatest impact on mortgage options. Most mainstream lenders will not consider applications until at least three years after discharge; specialist lenders may consider sooner in limited circumstances.
6. Mortgage arrears or repossession
Previous mortgage arrears or a property repossession are treated very seriously by lenders. Options exist but are limited, and deposit requirements are typically higher.
Why timing matters
The age of the credit issue is one of the most important factors in determining what is possible. Most adverse credit issues remain on your credit file for six years, but their impact reduces over time - and many specialist lenders apply their criteria based on when the issue occurred rather than whether it exists at all.
Issues over 3 years old - a wider range of lenders will consider your application, and rates and deposit requirements improve significantly.
Issues 1 to 3 years old - options exist but are more limited. Specialist lenders are the main route, and you will typically need a larger deposit.
Issues under 12 months old - the most restrictive period. Options are narrow, rates are higher, and lenders will want to see evidence that the situation has been resolved.
This is why it is worth speaking to us even if you think it is too soon. We will give you an honest view of where you stand now and what you can do to improve your position before applying.
How much deposit will you need?
Adverse credit applicants typically need a larger deposit than standard applicants. The more serious or recent the credit issue, the higher the deposit requirement tends to be.
Minor issues (one or two older missed payments) - 10 to 15% deposit may be sufficient with some specialist lenders.
Moderate issues (defaults, satisfied CCJs, issues within the last 3 years) - 15 to 25% deposit is typically required.
More serious issues (IVAs, bankruptcy, repossession, or very recent adverse credit) - 25% or more is often needed, and options are more limited.
These are guidelines rather than fixed rules, every application is assessed individually and there can be significant variation between lenders. We will give you a clear picture of what deposit is realistically needed for your specific situation before you proceed.
Why Choose Aspect Mortgages?
Independent and FCA-regulated - we work for you, not for the lender
Whole of market - access to thousands of mortgage products from across the market
Based in Chorley, serving clients nationwide - We advise first time buyers across the UK from our Chorley base - by phone, video call, or in person.
The best of technology and people - We use cutting-edge mortgage technology to search the whole market and manage your case efficiently — but you'll always deal with a real person who knows your situation, not a chatbot or automated system.
No jargon - everything explained clearly, at your pace
Fixed, transparent fee - A fixed £495, only payable when your mortgage offer is issued. No percentage-based charges, no surprises.
What Our Clients Say About Aspect Mortgages
With over 400 five-star reviews across Google and Facebook, we're proud to be one of Lancashire's most trusted independent mortgage brokers. Here's what some of our clients have to say.
Frequently Asked Questions
Can I get a mortgage with bad credit?
Possibly, yes. It depends on the type of credit issue, how recent it is, the size of your deposit, and your overall financial picture. We will give you an honest assessment of what is realistic for your specific circumstances before you do anything else.
How long does adverse credit stay on my file?
Most adverse credit issues - including missed payments, defaults, CCJs, IVAs, and bankruptcy - remain on your credit file for six years from the date they were registered. Their impact on your mortgage options reduces over time.
Will a satisfied default or CCJ help my application?
Yes. A default or CCJ that has been repaid is viewed more favourably than an outstanding one. It does not remove the entry from your file, but many lenders distinguish between satisfied and unsatisfied adverse credit when assessing applications.
Do I need a bigger deposit if I have bad credit
In most cases, yes. The size of deposit required depends on the severity and age of the credit issues. Minor older issues may only require 10 to 15% in some cases; more serious or recent issues typically require 25% or more.
I was made bankrupt - can I get a mortgage?
This will depend on when the bankruptcy was discharged. Most mainstream lenders will not consider applications until at least three years after discharge. Some specialist lenders may consider earlier, depending on the full picture. We will advise on what is realistic for your situation.
Will applying for a mortgage affect my credit score?
A full mortgage application leaves a hard search on your credit file, which can have a small negative impact. This is one reason why we assess your situation thoroughly before recommending any lender and will never submit an application we do not believe will succeed.
What if I've been declined for a mortgage before?
A previous decline doesn't mean you can't get a mortgage - it often just means you applied to the wrong lender. We can review what happened and identify a lender whose criteria fits your circumstances.
What about protection?
Getting a mortgage is the first step - but it's worth thinking about what happens if things go wrong. If you were unable to work due to illness, or if you passed away, could your mortgage still be paid?
We can help you look at:
Life insurance pays out a lump sum to clear your mortgage if you die
Critical illness cover pays out on diagnosis of a serious condition
Income protection replaces a portion of your income if you're unable to work
This isn't a sales pitch, it's a conversation. We'll explain the options simply and only recommend cover that genuinely makes sense for your situation. Take a look at our dedicated protection insurance page for more info.
Ready to Explore Your Options?
The first step is a conversation. We will listen to your situation, review what is on your credit file, and give you an honest view of what is achievable - and what is not. There is no obligation and no cost to that initial discussion. Simply enquire below and we will be in touch or call us directly on 01257 812345.
Aspect Mortgages is based in Chorley, Lancashire, but we work with clients nationwide. Whether you prefer to meet us in person at our offices or speak with one of our advisers by phone or video call, we can help you wherever you are in the UK.
We have particular experience serving homeowners and buyers across Lancashire and Greater Manchester, including Preston, Chorley, Leyland, Bamber Bridge, Southport, Skelmersdale, Ormskirk, Wigan and Bolton.
We offer specialist mortgage and financial advice across a wide range of needs, including first-time buyers, home movers, remortgages, buy-to-let, product transfers, self-employed applicants, contractors, professionals, NHS workers, large loans, adverse credit and equity release.
Fees
There will be a fee for mortgage advice. The precise amount will depend upon your circumstances but we estimate that it will be £495 for a residential/buy to let mortgage or £1495 for an equity release/retirement mortgage.
Important Information
Aspect Mortgages Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register (https://register.fca.org.uk/s/) under FCA reference 305352. The FCA do not regulate Business Buy to Let Mortgages or Estate Planning.
As independent advisers we have access to the whole market, except for deals that you can only obtain by going direct to a lender. Registered in England and Wales No: 051013801. 16 St Thomas' Road, Chorley, PR7 1HR.
Your home may be repossessed if you do not keep up repayments on your mortgage.
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