Do credit history issues stop your chances of getting a mortgage? #AskTheBeardedBroker
Channel: Ross ‘THE BEARDED BROKER’ Stisi
Date: 2022-03-16

One of the most common things I come across as a mortgage broker is questions around credit history and credit score. 

The majority of UK mortgage lenders will run a credit check and will rely heavily on what a computer says. This can make things difficult when someone has a less than perfect credit score or hasn’t live long at an address or isn’t on the voters roll. As well as this and sometimes alternatively, UK mortgage lenders will use a profiling system to assess if they will lend to an applicant. For example, how much income someone earns against what they are looking to borrow, how much debt someone has in comparison to their income (debt to income ratio), how long someone has been in their job and how long they have held a bank account for all go towards building a ‘profile’. 

Credit issues should not stop your chances of getting a mortgage. I'm here to help you through the process and answer any questions you may have about qualifying for a mortgage.

You might have been told that you cannot get a mortgage because of your credit history, but in this video, I'm going to show you how you can actually get a mortgage with bad credit!

This weeks questions from the community: 

Helen from Edinburgh 
I have poor credit history with 2 defaults more than 3 years ago. Should I try and buy a home just now?

At the moment I have no debt. Is it a good idea to try and buy a home just now or will interests rates be too high? Should I alternatively try a get a credit card to build my credit history?

Anne from Norwich
As a married couple, one of us has poor credit history. Does this write off the chance of one of us getting a mortgage? 

Becky from Dalkeith 
If I go for an expensive specialist lender due to poor credit history, after how many year would I be able to go to a high street lender in the hopes of getting a better mortgage rate? 

Spiros from the Scottish Borders
I am currently viewing properties to buy as my first home and my mobile phone and internet provider contracts are due to renew this month. Will this affect my ability to get a mortgage and will this cause any issues with my credit file? 

Do you have any questions for THE BEARDED BROKER? Please just comment on this video and we will get straight back to you. 

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Stisi Group is an award-winning Mortgage and Protection planning advice business based in Scotland. We provide advice to first-time homebuyers, next time home buyers, people looking for a better mortgage deal and landlords. Our advice covers almost 100 different mortgage lenders across a range of more than 12,000 different mortgages. 

Visit our website https://stisi.co.uk
Contact me on ross@stisi.co.uk 
Call our office for any advice on 0131 510 1240

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Thank you for watching.

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There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.