Myth Buster: I’ve Had a Credit Blip - I Can’t Get a Mortgage

Think a missed payment or low credit score means you’ll never own a home? Think again.

Life happens - from unexpected bills to job changes - and sometimes, your credit record takes a hit. But a credit blip doesn’t automatically stop you from getting a mortgage. Many lenders now look beyond your score, focusing instead on your overall financial situation, income stability, and how you’ve managed money since.

At Endurance Mortgages, we work with specialist lenders who understand that people aren’t just numbers on a credit file. Here’s what you need to know if your credit history isn’t perfect - and how we can help you move forward.

1. What Counts as a ‘Credit Blip’?

A credit blip could be:

• A missed or late payment (on a loan, utility, or credit card).

• A default or County Court Judgment (CCJ).

• Past use of payday loans.

• A debt management plan (DMP) or IVA.

• A bankruptcy that has since been discharged.

Every situation is different - and some issues matter less to lenders than others. For example, a small missed payment two years ago will have far less impact than a recent default or ongoing IVA.

2. Can You Still Get a Mortgage?

Yes - and more people do than you might expect.

There are three main types of lenders to know about:

• High street lenders: Usually want a clean credit history, but may allow small, older blips.

• Specialist lenders: Designed for those with imperfect credit. They’re more flexible and assess applications manually rather than relying on automated credit scoring.

• Adverse-credit lenders: Specifically cater to people with CCJs, defaults, or previous bankruptcies - often with higher interest rates to reflect risk, but still providing a route to homeownership.

Even with poor credit, a stable income, a solid deposit, and evidence that you’re managing finances responsibly can go a long way.

3. How Long Should You Wait Before Applying?

There’s no one-size-fits-all rule. Some lenders consider applications just six to twelve months after a default or missed payment, while others prefer two to three years.

That said, there are ways to strengthen your chances now:

• Check your credit report: Correct any errors and ensure your address history is accurate.

• Avoid new credit applications: Too many can lower your score temporarily.

• Pay all bills on time: Even your phone contract or council tax matters.

• Save for a bigger deposit: A higher deposit can offset risk and improve acceptance chances.

4. How Much Deposit Will You Need?

This depends on how recent and severe your credit issues are:

• Minor blips (missed or late payments): 5–10% deposit may suffice.

• Defaults or CCJs (over a year old): 10–15% deposit.

• Recent or serious credit issues: 20–30% may be required, but options still exist.

Even a small improvement in your credit and deposit can unlock more competitive rates, which is why expert guidance early on makes such a difference.

5. How Endurance Mortgages Can Help

We know every borrower’s story is different. Our experienced team will:

• Review your full credit report and identify which lenders are open to your situation.

• Explain what steps you can take to improve your mortgage prospects.

• Match you with specialist or adverse-credit lenders offering fair rates and flexible criteria.

• Handle the paperwork, so you don’t have to face rejection after rejection.

Even if you’ve been told “no” before, we may find a lender who says “yes.”

6. Final Thoughts

Don’t let a credit blip stop you from pursuing homeownership. Whether your issues are small or serious, there are mortgage options out there - it’s all about finding the right one for you.

Key takeaways: ✓ A poor credit score doesn’t mean no mortgage. ✓ Lenders consider your full financial picture, not just past mistakes. ✓ Specialist lenders can offer tailored solutions for credit challenges. ✓ The right advice can help you rebuild and buy sooner than you think.

At Endurance Mortgages, we’ll help you navigate the process, explain your options clearly, and work to find a lender who believes in second chances - because your past shouldn’t define your financial future.

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Your Home (or property) may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it. Some Buy to Let mortgages are not regulated by the Financial Conduct Authority A fee may be charged for mortgage advice. The exact amount will depend on your circumstances.

Endurance Mortgages Ltd is an appointed representative of The Right Mortgage Ltd which is authorised and regulated by the Financial Conduct Authority. Registered in England and Wales no. 15060351. Registered Address: Worting House, Church Lane, Basingstoke, Hampshire RG23 8PX.