How Much Deposit Do I Need for a Mortgage in London with Bad Credit?

When you have bad credit, lenders often ask for a higher deposit. Typically, you’d need at least 15% to 30% of the property’s value. The exact amount will depend on the severity of your credit issues, such as missed payments or defaults. A larger deposit reduces the lender’s risk, making it more likely for them to approve your mortgage.

Can I Get a Mortgage in London with a County Court Judgement (CCJ)?

Yes, it’s possible to get a mortgage in London even with a County Court Judgement (CCJ) on your record. Lenders will consider factors like how long ago the CCJ was registered, the amount involved, and whether it has been satisfied (paid off). The older and smaller the CCJ, the better your chances. Be prepared to provide a larger deposit and to pay a higher interest rate.

Can I Get a Mortgage in London with Missed / Late Payments?

You can still get a mortgage with missed or late payments, but it can be more challenging. Lenders will look at how recent the missed payments were and how many occurred. If your missed payments were a while ago and you’ve since kept up with your payments, your chances improve. Again, a higher deposit and possibly a higher interest rate may be required.

Can I Get a Mortgage with Bad Credit in London if I'm Over 50?

Being over 50 doesn’t automatically prevent you from getting a mortgage with bad credit, but it can add some challenges. Lenders might be more cautious due to the combination of age and bad credit. You may be required to provide a larger deposit, and the mortgage term might be shorter, meaning higher monthly payments. Lenders will also consider your income, retirement plans, and overall financial situation.

Bad Credit Mortgage Advice in London

Getting a mortgage with bad credit in London?

We’ve assisted many customers who are seeking a mortgage despite having less-than-perfect credit. The good news is that most of them are still able to secure a mortgage, even with a bad credit history.

Options for buyers with poor credit.
Options for remortgaging with bad credit.
Age 60+ mortgage options in London
Self employed bad credit mortgages.
In a complex situation?

As a mortgage broker in London, we work with a wide range of lenders, including both high street banks and specialist providers. This allows us to search through 1000’s of mortgage deals to find one that’s tailored to you.

How to get a mortgage with bad credit in London?

Customers may choose to obtaing a mortgage via their bank or an online comparison site before coming to us. What they often don’t realise is that hard credit checks can harm their chances of getting a bad credit mortgage because each hard credit check leaves a mark on their credit report.

Securing a mortgage with bad credit in London isn’t just about finding the lowest interest rate and applying. The process requires a strategic approach, which is where an experienced mortgage broker in London can make a significant difference.

Our mortgage advisors in London aim to match your situation with the right lender on the first attempt, helping to protect your credit score from further impact.

What type of first time buyer mortgages can I get in London?

Our experienced mortgage advisors in London will carefully evaluate your bad credit situation – when the bad credit was recorded, what caused it, whether it’s now resolved, the amount involved, etc., to help chart the most appropriate course of action.

Different forms of bad credit mortgages exist, such as:

CCJs (County Court Judgment).
DMPs (Debt Management Plan).
Defaults, Delayed or Missed Payments.
IVAs (Individual Voluntary Agreements).
Bankruptcy.

If you are considering getting a new mortgage and are concerned about your credit score, you can speak with one of our mortgage advisors in London today to find out what your mortgage with bad credit options are.

Speak to an Advisor

Important information

Your home may be repossessed if you do not keep up repayments on your mortgage.

There may be a fee for mortgage advice. The fee is up to 1% but a typical fee is £495.

Popular Bad Credit Mortgage FAQs in London

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Anonymous

Charlie helped guide me through the process and answered all my questions. Would highly recommend London money man to everyone!

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Otto

thank you chloe for help with my mortgage iwill be back next time.

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7 months ago

Josie

Dinah and the team at London money man were super helpful with a remortgage on our family home. They got us through the process quickly and found me a much better deal than we were on. Thank you again, we'll be back in touch for our next...

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Jeb

Great service from Kayleigh & Leo! Made it easy and stress free, thank you both for finding me a suitable product. I would not have got through this without their help.

7 months ago

Derek

Helped me and my partner on our remortgage. Molly was friendly and polite on the phoen and helped us throughout the process. Would reccomend 👍

7 months ago

Marina

Leoand Kayleigh were great during my process. He made everything stressfree for me as a first time buyer. Would definitely recommend to others going through the same process as it helped a lot. Thank you..Marina

7 months ago

James

Thank you Londonmoneyman. From my free initial mortgage appointment to completion I was kept in the loop. Jason was great and would definitely recommend.

7 months ago

Ruby

Tom and Louise were so helpful throughout the whole process. As First Time Buyers we were almost scared to start looking for a home but the team at Londonmoneyman put us at ease and now we have a lovely new home. Thanks for everything!

7 months ago

John

Amazing service from start to finish. Charlie, Megan and the application team were very helpful throughout, to help with any queries, and kept me up to date with the process at every stage. Couldn't recommend them enough!

2 years ago

Our Simple Mortgage Process

Free Initial Mortgage Appointment

Every customer can benefit from a free initial mortgage appointment with one of our mortgage advisors in London. During your appointment, your assigned mortgage advisor in London will request information concerning your earnings and outgoings to work out your borrowing capacity.

We Can Search 1000s of Mortgage Deals

After your free initial mortgage appointment, your mortgage advisor in London will try and find a mortgage deal that aligns perfectly with your unique financial circumstance. If you want to proceed with the chosen mortgage product, it’s time to start working on preparing your mortgage application.

Submit Your Mortgage Application

Preparing and submitting your mortgage application is a crucial step towards acquiring your dream property. To support your application, you will need to provide supporting documents that support your income and affordability. At this stage of your journey, you will be partnered with a dedicated case manager. Their task is to guide you through every stage of the process, ensuring you’re kept informed and updated.

Protecting You and Your Mortgage

Now that your application is ready, we can send it off to the mortgage lender. Whilst we wait for the mortgage lender’s response, we will evaluate your insurance options with you, making sure that you and your family are protected in a situation where you cannot make your mortgage payments.

Reasons to Choose us

Free Initial Mortgage Appointment

We have some fantastic customer reviews from other home buyers in London who came to us for mortgage advice in London, and they are a great representation of the levels of service we provide. While booking your free initial mortgage appointment, take a look to see what our customers said and to see how we may be able to help you too!

1000s of Deals

As an open and honest mortgage broker in London, we are able to search through many competitive bad credit mortgage delas on your behalf. We have a large panel of lenders and will be able to find the most suitable one for you and your mortgage needs!

Our Service

It is our job to provide fast and friendly mortgage advice in London. We will try and find the most suitable mortgage product for you. Book yourself in online for your free initial mortgage appointment using our online booking feature. It’s clear and simple, just like our mortgage advice service.

7 days a Week

Our team are available 7 days a week, including bank holidays and weekends. This means that as a first time buyer in London, you can book in your own appointment with a mortgage advisor in London at a convenient time, including out of hours!

Malcolm and Amy Davidson - Mortgage Advice in Newcastle

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Londonmoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.

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