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Home » Mortgages » Bad Credit Mortgages » No Credit History

Can you get a mortgage with no credit history?

Yes. However, it can be challenging to obtain a mortgage without any credit history as most lenders will typically see it as a bigger risk.

Thankfully, we work with a wide range of specialist no credit history mortgage lenders and will be able to support you every step of the way. After all, we have over 100 years combined experience of securing specialist mortgages for our customers, and are rated as excellent on TrustPilot!

With the experience and know-how of our mortgage advisers we may be able to help you obtain a specialist mortgage with no credit history.

 

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No Credit History FAQs

Why do I have no credit history?   

There are many reasons why you may have no credit history. For example, you may have no credit history if you are living with your parents, or if you have recently moved to the UK. In some instance, your credit file may even be too old.

You may be pleased to know that it is possible to build a credit history.

Do you need a credit history to get a mortgage?

In short, it’s helpful to have a credit history. This is because lenders need to assess your ability to repay the mortgage, and with no credit history, there is an element of the unknown.

Thankfully, we work with a wide range of specialist mortgage lenders, and with our experience, we may be able to help you secure a mortgage with little or no credit history.  

Which you may not find possible with mortgage advisers that are not whole of market.

Why is having no credit history a bad thing?

Lenders like to check whether a borrower can manage their finances, therefore they prefer applicants to have a credit history. You may have a credit history that you’re unaware of. No matter how small your credit file is, any amount of history can help.

Remember, while you may be financially stable and dependent, the reality of the situation is that lenders want evidence of this, often in the form of a credit file.

How do I build up my credit file?

Essentially, a lender is looking to see if you are financially responsible and able to make repayments. Therefore, if you can demonstrate that you can repay some form of credit such as a mobile phone contract over some time, then this is advantageous.

There are many more tips for building a credit history here.

How many years of credit history do I need for a mortgage?

The short answer is it depends. Some lenders for instance may look at the last six years of your credit file, however, each lender is different. It’s advantageous to build up a credit history, as most lenders will use this information to assess your financial situation. Even if you have little or no credit history, we could still help.

The Personal Approach To Your Mortgage

With a Mortgage Experience adviser on your team, you can sit back, relax, and make yourself a cuppa, safe in the knowledge that we will be doing all the heavy lifting to find you a suitable mortgage with the best rates available. This gives you more time to pack, and well, do the actual physical heavy lifting (should you wish) as you move into and enjoy your new home or the financial benefits of your remortgage.

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