Is it possible to get a mortgage with bad credit...?

[EveninEden]

After a very violent and abusive relationship, I was left with a lot of debt, alone and pregnant a few years ago. The debt had a knock-on effect and so my credit is poor... is it possible I'll ever get a mortgage? I work full time now running my own busy salon. I'm desperate to get out of renting!... ANY help or advice would be much appreciated xx

Yes it is although it means you will be paying a higher interest rate. Speak to a broker who will know what banks you should apply to.

Hi, in theory yes but it is very dependant on the reason for your low credit score. Has everything been paid on time or do you have defaults/ccj's? If you do, how recent are they and how much deposit do you have?

I had a relatively low credit score but managed to get a mortgage from Santander via a broker. Low loan to value ratio so that may of swung it.

Renting is the worst and so many women are left in similar situations after abusive relationships.
I really think there needs to be some sort of massive reform of the system. Renting in the Uk especially feels so very precarious , especially now when many landlords will be having to sell properties. I hope you find a solution op.

If you can trust yourself to be disciplined to pay them off straight away it may be a good idea to get a credit card, make small purchases on it and pay it off in full every month, even with bad credit you can get ones like capitol one-you would need to be strict about paying it off in full every month though as the apr on bad credit credit cards are usually 39%apr+

If you google money saving expert credit report there is a free access credit report which is worth trying as the credit reference agencies change monthly fees to access but through mse its free, you can then look at what factors are impacting your score such as people you are linked to, if your on electron role, if your income is correct etc. Sometimes its a case of you haven’t had credit-cards/phone contracts loans etc which can put your score in a bad position. By looking you will be able to see if there’s any things on there that need correction or if there’s things you can do to improve your score. I’d recommend looking before trying to apply for anything.

Thank you everyone, I will look into these suggestions! Yes, renting really is the worst so much bad stigma and frustration. Hopefully one day, I can get my kids and I out of it all... thank you again everyone x