Worried that a credit blip or missed payment will prevent you from getting a mortgage? You don’t need perfect credit to secure a competitive mortgage rate. Specialist lenders now offer more flexible options, helping borrowers with less-than-perfect credit histories qualify for better deals.

News dropped this week about recent rate cuts that are making these mortgages even more affordable. Recent changes have brought 2-year fixed rates for borrowers up to 85% loan-to-value (LTV) down by 1.00%, making these products available at 6.69%. On top of that, 5-year fixed rates for borrowers up to 75% LTV have been reduced by 0.50%, meaning you could lock in a rate as low as 5.59%.

These lenders also offer lower rates on shared ownership mortgages, with 5-year fixed rates now starting at 6.09%. So, even if high street lenders have turned you down, you still have options.

Want to know what your credit score looks like? Click here and download your free credit file. (Please note the Credit Report is free for 30 days then £14.99 per month, but you cancel online anytime).

Using a broker will give you access to the entire lenders market, not just the high street, so if you’re keen to find out more about accessing these specialist lenders, contact us today.

Whether you’ve had credit issues or irregular income, competitive mortgage rates are within reach.

Annabelle Bezant, September 2024