The Sun seeking mortgage broker advice

"There are more lenders offering mortgages for borrowers with bad credit than you might think. Specialist lenders offer bespoke deals for people with credit issues, but there are also high street banks and building societies who can consider these customers under the right circumstances. "Having bad credit does mean that you're likely to find it harder to get approved for a mortgage, though, purely because there will be fewer lenders to approach. There's also a greater chance that you will be offered a higher interest rate or be asked to put down a larger deposit to offset the risk the lender is taking on. "Your chances of approval will likely come down to how old the credit issue is - the older, the better. Some lenders will also take into account the severity of the problem as well as the reason for it. For example, a bankrputcy that was the result of financial mismanagement would be a far bigger deal than a default that arose because of an unexpected life event. "To boost your chances of approval, there are ways you can build and repair your credit ahead of a mortgage application. Reviewing your credit reports yourself so you can challenge any inaccuracies and have outdated information removed would be a good start. "You could also consider settling any debts you're in a position to clear, join the electoral register and avoid too many hard credit searches from lenders in a short space of time." If a low credit score is the problem, one option would be to take out a credit card, spent a little on it and clear the balance in full each month. This will help you build up some good credit history, as long as you keep up with your repayments. Finally, speaking to a mortgage broker before you apply can help you get a mortgage with bad credit. There are brokers who specialise in securing mortgages for people with all kinds of credit problems. They have deep working relationships with the right lenders and can offer bespoke advice to people who have struggle to get onto the property ladder because of their credit history.

"Historically Halifax were the 'go-to' lender where there was a history of missed payments on personal debt. However recent changes over the past few years mean this is no longer the case, especially for those with a 5-15% deposit. "Every high street lender reacts differently when there is a history of impaired credit or a low credit score. Lenders such as Barclays are great with missed payments even with a low deposit, while some lenders such as Coventry are happy to consider defaults and CCJs under a certain value depending on when they were registered. Other lenders however will automatically decline you if you have a default or CCJ showing on your credit file. "Receiving specialist advice is crucial as too many advisers go straight to the specialist lenders such as Precise, Kensington and Pepper Home Loans the moment you mention missed payments or something more serious on your credit file, when it's often the case that you could qualify with the right high street bank and pay half the rate of interest. "Just because you may have been declined by one high street bank, it absolutely does not mean you will not qualify with another, and this is where receiving the right advice is vital."

"There are plenty of lenders helping people with less than pristine credit scores. Lenders like Kensington, Precise, Aldermore through to the likes of Together who are incredibly forgiving but who can be fairly pricey. "That being said though, very often we can get cases with minor adverse credit such as a one-off CCJ for a parking ticket through even with some of the high street lenders at normal prices if it's not too bad and a proper business case is made for the business. A one off blip is not the end of the world! "The main thing though is that regardless of how good or bad your score, always go and see a broker - they do tricky mortgages for a living and will ensure that they recommend the best possible deal for you and your own circumstances."

"Getting a mortgage isn't as difficult as people think. Preperation is key when going for a mortgage, with many lenders offering specific products for credit-impaired customers, and some lenders being more specific to those who have struggled. "A poor credit score doesn't neccesarily stop you getting a mortgage but it does limit the lenders available to you. Exactly how bad your credit is will determine what lenders you can go to. "Recently we have arranged mortgages for those with CCJ's defaults, missed payments and even IVA's, but expect to pay more: deposits are usually upwards of 25% and interest rates are also usually higher. "To improve your score you need to look after it, speak to a broker and get a copy of your Experian or Equifax report. Here are a few tips: Get on the electoral role Manage your payments and make sure you budget not to miss any Keep your balances low, ideally below 50% Check for errors, if you see one notify the credit reference agencies Minimise hard searches and try not to take out new credit often "Keep this going and your score should improve in no time."

Every lender has a different process when it comes to what they will accept. Many mainstream lenders are ok with a singular late payment, if it was more than 6 months ago and depending on what the late payment was for but if there are more significant credit issues then you may need to use sub prime lenders, with more expensive deals available. The worse the credit the more expensive the deal is likely to be and some lenders have rates as high as 7% to take on those applicants with more noteable credit issues. In some cases it may not be possible to obtain a mortgage at all and you may have to show a longer track record of good account conduct before applying.