How to Buy a House - Credit Score

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How to Buy a House - Credit Score

Your credit file captures the last 6 years of your financial history — anything older drops off and no longer impacts your score.

Here’s how lenders break down:
✅ High Street Mortgage Lenders – Best rates available. If your credit is clean (no missed payments, defaults, or CCJs), you’ll likely qualify here with just a 5% deposit or even no deposit in some cases.
???? Building Societies – A flexible middle ground. If you’ve had 1–2 missed payments over a year ago or a small default, building societies could still offer competitive rates. Think of them as a hybrid between high street and specialist lenders.
⚠️ Specialist Mortgage Lenders – If your credit history shows multiple missed payments, defaults, or more serious adverse credit, this is your likely route. But keep in mind: deposits here can range from 10–20% depending on how recent or severe the issues are.

???? The cleaner your credit, the lower your deposit and better your rate. But there are options even if things aren’t perfect.

MORTGAGE WARNING ⚠️ - AS A MORTGAGE IS SECURED AGAINST YOUR HOME, IT COULD BE REPOSSESSED IF YOU DO NOT KEEP UP THE MORTGAGE REPAYMENTS

#alexkerrmortgage #firsttimebuyeruk #mortgagetipsuk