First Time Buyers

Can I Get A Mortgage With My Credit Rating?

Getting a mortgage is probably going to be the biggest investment that you ever make, therefore it makes perfect sense to get the best possible deal that you can. This is especially important if you’re not sure that you can successfully apply for one with the credit rating that you have. If it’s your first time getting a mortgage, this can be especially daunting as there are many factors to consider, so let’s break the mortgage application process down piece by piece to answer the question: Can I get a mortgage with my credit rating?

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What Credit Score Do I Need To Get A Mortgage?

So, you may be wondering what credit score do I need to get a mortgage? That’s an easy question with a not-very-simple answer. This is because there is more than one credit rating system. Different lenders use different factors to decide whether you are an acceptable risk to loan money to. To complicate things further, there are a multitude of different mortgage deals and providers, which is why it’s crucial that you get proper mortgage advice before signing on the dotted line.

It goes without saying that the better your credit score is, the more mortgage packages and lenders will be available for you to choose from. It’s the same principle as applying for a credit card just on a bigger scale; the better your credit score is, the more favourable the credit card deals are and the amount of interest that is added overall is lower.

But what is classed as a good score if there are multiple credit rating systems?

There are three main credit rating systems used in the UK; Experian, Equifax and TransUnion and they all use their own credit scoring scale. So, while a credit score of 600 may be considered poor with one lender, it may be excellent for one of the others

Let’s look at the scoring systems used by the big three credit scoring providers.


961 - 999

881 - 960

721 - 880

561 - 720

0 - 560






Very Poor

Equifax Credit Scoring Scale (Uk Average Score – Fair (380 In The Old Score)

Equifax recently revamped their scoring system. They previously worked on a scale of 0 -700 and this has now changed to 0 -1,000, and all scores from the old system have been adjusted and transferred to the new one without any penalties. The new average UK score now sits in the ‘fair’ bracket, just as the old average score of 380 did.


467 – 700


420 – 466

367 – 419

279 – 366

0 - 278


811 – 1,000

671 – 810

531 – 670

439 – 530

0 – 438




Very Good




Very Poor

Transunion Credit Scoring Scale (Uk Average Score – Fair)

Transunion was formerly known as Callcredit and they offer the UK’s only live credit scoring system. They are also the only credit score provider to assign a letter to each bracket of credit score.


781 – 850

720 – 780

658 – 719

601 – 657

300 - 600












Very Poor

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How Do I Find Out My Credit Score?

Remember, there isn’t one universal credit reporting agency, there are three, so you should obtain a credit report from each one of them. You can do this by contacting them directly. By law, Equifax, Experian, and TransUnion have to provide you with a free copy of your credit report once every 12 months, but even if you have to pay for them, they only cost a few pounds. Those few pounds could potentially save you thousands and even get you a better mortgage deal.

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Can I Get A Mortgage If I Have A Poor Credit Score?

Let’s dispel one myth straight away; there is no such thing as a credit ‘blacklist.’ This is because, as we’ve discovered above, there isn’t one universal credit scoring system and different lenders use different scales to base their decisions on. The trouble is you won’t know which credit scoring agency your chosen mortgage provider is using.

It is entirely possible to get a mortgage if you have a poor credit score – you just have to prepare yourself for the fact that the options presented to you will not be as favourable as the ones you would have with a stronger credit score. You may only be offered one or two options to choose from, and, unfortunately, chances are that the monthly repayment figures will be much higher, or the lender will require a larger deposit from you before they consider you for eligibility. But don’t let that discourage you; remember, what one creditor sees as risky, another will be perfectly fine with.

PBS Mortgage Solutions’ accredited financial experts will go through every possible avenue open to you and advise you on the best course of action to take, irrespective of your credit score.

How Can I Improve My Credit Score For A Mortgage?

There are a number of things that you can do to improve your credit score to ensure that you get the best possible mortgage offers:

1. Pay Your Bills On Time

This sounds obvious, but nothing will make you more attractive to lenders than being a reliable payer.

2. Register To Vote

This helps to confirm your identity and address.

3. Keep Your Amount Of Credit Low

Try to keep credit card usage below 25% and don’t apply for credit for approximately 6 months before you apply for a mortgage.

4. Check Your Credit Reports Thoroughly

You’d be amazed how this can put a rocket behind your credit score. Check for any entries that you don’t recognise (you may inadvertently have someone else’s bad credit attributed to your name) and for any entries that have expired and shouldn’t be on there anymore (CCJs and Bankruptcies). If you see anything like this, question them immediately and get them removed.

5. Put A Bigger Deposit Down

Needless to say, the bigger the deposit you can put down, the smaller your mortgage will be, so try to save as much as possible before you take the plunge and start looking for a mortgage.

What Type Of Mortgage Can I Get?

Discuss Your Credit Rating With Pbs Mortgage Solutions

Just because your credit rating may not be the strongest, that doesn’t necessarily mean that you won’t pass for a mortgage. There are so many different mortgage solutions available from a variety of lenders that passing for a mortgage may be easier than you realise.

PBS Mortgage Solutions have the knowledge and expertise to advise and guide you toward a mortgage package solution that fits your finances and allows you to comfortably own your dream home. Get in touch for a more in-depth conversation.

To speak to a member of our team right away, give us a call on 0776 5738 796.