Getting a mortgage after a default is harder — but far from impossible. There are specialist lenders who look at your current situation rather than just your credit history. Here's everything you need to know.
- Loan-to-value bands (95/90/85/80/75%) drive pricing — check the nearest band boundary
- Compare total cost over the fixed period — rate plus fees, not headline rate alone
- Start remortgage shopping 6 months before your fix ends — you can lock now and switch if rates fall
Read This Before You Apply
Get your decision in principle before falling in love with a property. It's a soft-search estimate of your borrowing power that strengthens any offer you make, and it surfaces credit-file surprises while there's still time to fix them.
Timing your remortgage matters more than most borrowers realise. Most lenders let you lock a deal half a year ahead — if rates rise you're protected, and many lenders let you switch to a cheaper deal before it starts.
Can I Get a Mortgage After A Default?
Yes. While high-street lenders may decline your application, specialist and adverse credit lenders consider applications from people who have experienced a default. The key factors are: how long ago it happened, your current financial situation, and the size of your deposit.
How Long Do You Need to Wait?
The impact of a default on your mortgage application typically diminishes over time. Most specialist lenders will consider applications from 1-3 years after the event. High-street rates become accessible after 6 years when the event drops off your credit file.
Best Specialist Lenders (May 2026)
| Lender | Min Deposit | Time Since Event | Rate From |
|---|---|---|---|
| Kensington | 15% | 1 year | 5.94% |
| Precise Mortgages | 15% | 1 year | 6.04% |
| Pepper Money | 15% | 1 year | 6.17% |
| Together | 25% | Day 1 | 6.54% |
| Aldermore | 20% | 1 year | 5.73% |
How to Improve Your Chances
- Wait as long as possible after a default — lenders view time as a sign of recovery
- Save the largest deposit you can — 15-25% will unlock more lenders
- Rebuild your credit score — register to vote, pay all bills on time
- Use a specialist bad credit mortgage broker — they know which lenders will accept you
- Avoid any further missed payments, defaults or County Court Judgements
FAQs
Can I get a mortgage with bad credit?
Yes, though your options narrow. Specialist lenders accept defaults and CCJs older than 24 months, typically at higher rates. Rebuilding your score for 6–12 months first often saves thousands.
Do I need a mortgage broker?
You don't have to use one, but a whole-of-market broker sees deals that never appear on comparison sites, and knows which underwriters accept your income type. Many are fee-free and paid by the lender.
How long does a mortgage offer last?
Typically 3 to 6 months depending on the lender. New-build purchases often get extended validity because completion dates slip.
Should I choose a 2-year or 5-year fix?
It depends on your appetite for rate risk. A 5-year fix buys certainty; a 2-year fix costs less if rates fall. Remember arrangement fees can outweigh a small rate difference on smaller loans.
What fees should I budget for beyond the deposit?
Expect £1,500–£3,500 covering valuation, legal work, searches and any lender arrangement fee. Stamp duty applies above the current threshold.
Can I overpay my mortgage?
Almost all fixed deals allow 10% overpayment per year without penalty. Overpaying early in the term saves the most interest.
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