A previous credit issue does not necessarily mean a mortgage is out of reach. We will look at your situation honestly and tell you where you stand.
A credit issue in your past is one part of your application, not the whole of it.
Most people we speak to about a past credit issue assume it rules them out straight away. It often does not. Lenders vary considerably in how they view adverse credit, and some specialise in exactly this kind of application. What matters is looking at your situation properly rather than assuming the worst.
This can mean missed payments, defaults, a County Court Judgment, a debt management plan, or, in some cases, a previous bankruptcy or repossession. Each is treated differently by lenders, and none of them automatically means an application will fail.
Lenders generally look at what type of issue it was, how much it involved, and how long ago it happened. A small default from several years ago is usually viewed very differently to a recent, larger one. The clearer picture you can give us, the more accurately we can tell you where you stand.
A larger deposit can sometimes offset a credit issue, since it reduces the amount a lender is risking. Your current income and whether you are managing your existing commitments well now also carry real weight, often more than what happened in the past.
Some mainstream lenders will consider minor or older credit issues, while others will not look at an application at all if there is anything on file. There are also specialist lenders who focus specifically on adverse credit. Knowing which is which is most of the value an adviser adds here.
Where there is time before you need a mortgage, small steps can help: staying up to date on current commitments, checking your credit report for errors, and avoiding new credit applications in the run-up. We can advise on what is likely to make the most difference in your specific case.
We will ask about your circumstances directly and listen without judgement, then tell you honestly what your options look like. Eligibility always depends on your individual circumstances and lender criteria, and we will never promise a result before we have looked at your case properly.
Straightforward answers, without the judgement.
Speak to an adviserIt depends on your circumstances, but a previous credit issue does not automatically rule you out. What generally matters is the type of issue, the amount, how long ago it happened and your situation today. Eligibility always depends on individual circumstances and lender criteria.
Missed payments, defaults, a County Court Judgment, a debt management plan, or a previous bankruptcy or repossession can all fall under this. Each is viewed differently by lenders, so it is worth telling us the specifics rather than assuming it counts against you the same way.
Not necessarily. Lenders will look at the size of the CCJ, how long ago it was registered, and whether it has been satisfied. A small, older, satisfied CCJ is generally viewed very differently to a large, recent, unsatisfied one.
Most credit issues become less significant as time passes, and many lenders focus mainly on the last few years. Exactly how long depends on the type of issue and the lender's own criteria, which varies more than people expect.
Often, though not always. A larger deposit reduces the amount a lender is risking, which can help, but it is one factor among several including your current income and how you are managing your existing commitments now.
Where there is time, yes. Staying up to date on current commitments, checking your credit report for errors, and avoiding new credit applications beforehand can all help. We can advise on what is likely to matter most in your specific situation.
An initial conversation with us does not involve a credit check. A check is usually only carried out once you are ready to move forward with a specific lender, so exploring your options first does not put your credit file at risk.
Whether you are buying, moving, remortgaging or you simply want to understand your options, speak to the ICE Mortgages team. No jargon, no pressure, just a straight conversation about what is possible.