Can You Get a Mortgage with Bad Credit?
Yes, and Drummonds Finance Group is here to help.
Mortgages can be a bit of a maze, especially if your credit history isn’t perfect. Many people assume that a bad credit rating means they have no chance of getting approved, especially if a high street bank has already declined them. But the reality is quite different.
With the right advice and access to specialist lenders, it is absolutely possible to get a mortgage with bad credit.
What Is a Bad Credit Mortgage?
A bad credit mortgage—also known as an adverse credit mortgage or subprime mortgage—is a home loan designed for applicants with a less-than-perfect credit history. These products are typically offered by specialist lenders who take a more flexible approach to assessing risk.
Rather than simply relying on your credit score, these lenders look at your full financial profile, including:
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The reason for your credit issues
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How long ago did they occur
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Your current income and outgoings
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The size of your deposit
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Your overall affordability
The goal is to assess you as a whole person, not just a number on a credit report.
Types of Credit Issues Lenders May Consider
At Drummonds Finance Group, we work with lenders who consider a wide range of credit situations, including:
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Missed or late payments on loans, credit cards, or utility bills
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County Court Judgments (CCJs) – both satisfied and unsatisfied
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Defaults or arrears
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Debt Management Plans (DMPs)
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Individual Voluntary Arrangements (IVAs)
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Previous bankruptcies
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Low or no credit history
Each lender has different criteria. Some may accept applicants with recent issues, while others prefer a track record of improved financial behaviour over the past 6–12 months.
How Much Can You Borrow with Bad Credit?
The amount you can borrow will depend on several factors:
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Your income (and your partner’s, if applying jointly)
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Your monthly financial commitments (e.g., credit repayments, childcare)
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Your credit history and the severity of any adverse credit
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Your deposit size—typically, the bigger your deposit, the better your chances
Generally, you may need a minimum deposit of 15–25% for a bad credit mortgage, but this can vary depending on your specific circumstances.
What About Interest Rates?
Interest rates for bad credit mortgages are usually higher than standard mortgage products. This is because lenders are taking on greater risk. However, this doesn’t mean you’re stuck with that rate forever.
In many cases, borrowers with bad credit start with a higher rate but remortgage to a better deal after a few years, once their credit history has improved and they’ve built up more equity in the property.
Why Choose Drummonds Finance Group?
We understand how stressful and emotional it can be to apply for a mortgage with bad credit. That’s why we take a calm, clear, and client-focused approach.
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✅ Access to 100+ lenders, including many not found on the high street
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✅ Specialist experience in complex and adverse credit cases
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✅ Honest, straightforward advice—no jargon, no pressure
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✅ Support with credit report reviews and application preparation
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✅ A dedicated adviser to guide you from start to finish
Let’s Talk – No Obligation, Just Friendly Advice
Your bank might have said no, but that doesn't mean the journey is over. With the right broker on your side, your dream of owning a home is still within reach.
Get in touch with Drummonds Finance Group today for a free, no-obligation chat. We’ll listen to your story, assess your situation, and explore the lenders who may be willing to say yes when others won’t.
👉 [Contact Us Now] to take the first step toward a brighter financial future.
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Why choose a local mortgage broker in Oxford?As a local broker, we have in-depth knowledge of Oxford's property market, enabling us to provide personalized advice and access to exclusive deals not available through national lenders
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How quickly can I get a mortgage approval?We can typically secure an Agreement in Principle within 1–48 hours, depending on your circumstances.
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Can I get a mortgage with a low deposit?Yes, we work with lenders offering 5% deposit mortgages and can advise on schemes like Shared Ownership to help you get on the property ladder
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Do you offer services for self-employed individuals?Absolutely. We specialize in securing mortgages for self-employed clients, even with just 1–2 years of accounts.
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What documents are required to apply for a mortgage?Proof of ID (passport or driving license) Recent payslips (last 3 months) Bank statements Proof of deposit For self-employed: 2–3 years of tax overviews and SA302s
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What additional costs should I budget for?Legal fees Valuation/survey fees Mortgage arrangement fees Stamp Duty (if applicable) Moving costs Home setup expenses
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How long does it take to complete a mortgage in Oxford?On average, a mortgage can take 2 weeks to complete from application to offer, depending on the complexity of the case. At Drummonds Finance Group, we often secure a mortgage offers faster than 2 weeks for straightforward applications with all documents ready. Factors that can speed up the process include: Fast responses from the client Clear credit history Prompt valuations and solicitor work We work closely with lenders, valuers, and solicitors to keep things moving and minimise delays wherever possible.
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Is Oxford a good place to buy property?Yes, Oxford is widely regarded as one of the best places to invest in property in the UK. It boasts a strong local economy, world-class educational institutions, a vibrant cultural scene, and excellent transport links. The demand for housing in Oxford remains high due to its university population, medical and research centres, and proximity to London. Whether you're a first-time buyer, a home mover, or a buy-to-let investor, Oxford offers long-term value and strong rental potential.
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Will house prices go up in Oxford?While no one can predict the market with complete certainty, Oxford’s housing market has shown consistent long-term growth. Limited housing supply, a high volume of renters, and ongoing demand from students, professionals, and commuters support future price resilience. Economic forecasts and local development plans indicate that prices in Oxford are likely to continue rising over time, especially in well-connected and sought-after areas.
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What is the average house price in Oxford?As of 2025, the average house price in Oxford is approximately £525,000, though this varies widely depending on the area and property type. Flats typically range from £275,000 to £400,000 Terraced homes average around £500,000 Detached houses often exceed £800,000 Premium areas like Jericho, Summertown, and Headington command even higher prices.
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What should I look out for when buying a house in Oxford?Proximity to transport links – access to Oxford Parkway or mainline rail for London commuters can affect value. School catchment areas – top-rated schools like Cherwell School and Oxford High can increase demand. Leasehold vs. Freehold – many central Oxford flats are leasehold, so always check the remaining term and service charges. Flood zones – some areas near the River Thames or Cherwell may carry flood risks. Planning and development – check the Local Plan to see if any major changes or developments could affect the area.