Award-Winning Bad Credit Specialist · FCA No. 301173
Adverse Credit First Time Buyer Getting Your First Home Despite Bad Credit
Being a first time buyer is challenging enough. Add adverse credit and it can feel impossible. Darryl Dhoffer explains exactly what is available for first time buyers with bad credit.
43 Google Reviews
Award-Winning
90+ Lenders
FCA No. 301173
01234 237321
First Time Buyers With Bad Credit — Your Options
First time buyers with adverse credit face a double challenge: no property equity to offer as security and a credit history that mainstream lenders will reject. However specialist adverse credit lenders do offer first time buyer products and the UK has several government schemes that can help reduce the deposit requirement.
Darryl Dhoffer regularly helps first time buyers with CCJs defaults IVAs missed payments and other adverse credit get onto the property ladder for the first time. The key is finding the right specialist lender for your specific credit profile.
Darryl Dhoffer — The Mortgage Geezer
20+ years in mortgages. Award-winning specialist. Featured in the Daily Express, FT Adviser and The Intermediary. I have helped hundreds of people across the UK who were told no by their bank — and I work with 90+ lenders including specialist adverse credit lenders you will not find on comparison sites.
When you contact me, you speak to me directly. No call centres. No being passed around. I personally review every case and respond within 2 hours.
CeMAPCeRERFCA 301173AWARD WINNINGINDEPENDENTWHOLE OF MARKET
Frequently Asked Questions
Can I buy my first home if I have bad credit? ›
Yes. Many first time buyers have adverse credit and Darryl Dhoffer regularly arranges first time buyer mortgages for people with CCJs defaults IVAs missed payments and other credit issues. The deposit requirement is typically higher than for clean credit first time buyers but with the right specialist lender homeownership is achievable.
What deposit do I need as a first time buyer with bad credit? ›
Most specialist lenders require 10-25% deposit for first time buyers with adverse credit. The exact amount depends on the type and severity of the credit issues. Minor adverse credit from 2+ years ago may be accepted with 10-15%. More recent or severe issues typically require 20-25%. Darryl will calculate exactly what deposit you need.
What government schemes can help first time buyers with bad credit? ›
Shared ownership is often the most viable scheme for first time buyers with bad credit as the smaller mortgage makes specialist lender approval more achievable. Right to Buy is available if you rent from a council. The Mortgage Guarantee Scheme for 95% mortgages is generally not available with adverse credit. Darryl will advise on which schemes work for your specific situation.
Does being a first time buyer help when I have bad credit? ›
In some ways yes. You have no previous mortgage history which means no mortgage arrears or missed mortgage payments to explain. Some lenders view first time buyers more sympathetically than existing homeowners with bad credit because there is no negative mortgage history. Darryl will identify the lenders who take the most positive view of first time buyers with your specific credit profile.
How do I improve my chances as a first time buyer with bad credit? ›
Key steps: save as large a deposit as possible because more deposit equals more lenders; register on the electoral roll; pay all current bills on time; check all three credit files for errors; avoid new credit applications in the 6 months before applying; and work with a specialist broker like Darryl who knows which lenders suit first time buyers with your specific credit type.
Get Your Free Assessment Today
No credit search. No obligation. Darryl personally reviews every enquiry and responds within 2 hours.
01234 237321
darryl@themortgagegeezer.co.uk
FCA No. 301173
43 Five-Star Reviews
The Mortgage Geezer is a trading style of Access Financial Services Limited, authorised and regulated by the FCA No. 301173. Your home may be repossessed if you do not keep up repayments on a mortgage.
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