Finding a mortgage with a poor credit history is difficult and has to be approached very carefully because of the shortage of lenders available in this market. Having the advice of a qualified Poor Credit Mortgage Broker will greatly enhance your chances. With only a few sub prime lenders to choose from, getting it right first time is very important.

Steven Neale – Specialist Bad Credit Mortgage Broker

Steve and Sue made the whole process very easy and calming. The advice given set me at ease as I thought I wouldn’t be able to get a mortgage due to credit issues of the past. Highly recommend!

Mr Wright
11th Mar 2020

Thanks both for all your help!

14 Feb 2020

Excellent service, always informed me of any information required in a timely manor.

Ms Ross
13 Feb 2020

Steven and Sue were extremely helpful and knowledgeable and their calming influences made us feel at ease throughout the whole process.

03 Feb 2020

Very obliging, helpful and provided all the guidance we could have expected.

23 Jan 2020

Steve provided an excellent service to us and ensured we had the necessary documentation in readiness for our mortgage application. He was very patient in dealing with all our enquiries looking through several scenarios to suit our situation. The process was seamless and very satisfactory.

13 Jan 2020

SN Mortgages understood our position extremely well, even when there was an unexpected potential move rather than the remortgage.

28 Nov 2019

Thank you – yet again! We have organised a variety of mortgages over the years with SN Mortgages. The mortgage process is always complex by nature, but Steve and Sue always make the ‘journey’ as seamless as possible. Calm, friendly, helpful.

28 Nov 2019

S N Mortgages have provided an excellent service. They have been very accommodating to my personal requirements and provided a timely, yet thorough service. They provided multiple product options and talked me through the benefits in each case. Thank you both for your support and patience.

Mr & Mrs Tarring
14 Nov 2019

Thank you Steve & Sue for all your hard work in in securing a mortgage for us to purchase our first home. No query or question was too much trouble, thanks again.

Mr Hockley & Miss Lee
07 Nov 2019

As always, both Steven and Sue were knowledgeable, helpful, informative, quick and a pleasure to deal with.

Clive Saffron
19 Aug 2019

Can I Get a First Home Fund Mortgage with Bad Credit?

Getting a First Home Fund mortgage with bad credit from a high street lender is almost impossible. However, I know of one lender who can provide First Home Fund mortgages to those with poor credit, depending on the severity of the credit issues and how long ago they came about.

For example, if you have a default or CCJ registered on your credit file within the last few months, you are unlikely to be accepted. However, if your bad credit issues were from more than 6 – 12 months ago, I can almost certainly help.

It’s also possible I could help you get a First Home Fund mortgage if you have more serious credit issues, such as an IVA, DMP or even if you’ve been bankrupt. The key factor is how long ago these credit issues occurred and how they were rectified. 

You may have even had your home repossessed and think it’s impossible to get a mortgage. I’ve helped many clients in similar circumstances to find a mortgage and get back on the property ladder.

Bad Credit Mortgages for Scotland

Before applying for a First Home mortgage, it’s important that you check your credit file to understand whether you have any issues, such as missed payments, defaults or CCJ’s for example. You could look at one of the free reports from Equifax’s ‘Clearscore’ or TransUnion’s ‘Credit Karma’ or use Check My File for free for 30 days and then £14.99 a month – you can cancel online anytime – which checks all three.

When it comes to getting a mortgage with bad credit, the biggest hurdle for most buyers is the deposit. Having a poor credit history usually means you will need a larger deposit, which is often around 25%. 

The First Home Fund scheme in Scotland is a great option for those with bad credit, as it can provide up to £25,000 towards the cost of your mortgage and therefore reduce the amount of deposit required.

What is the First Home Fund scheme?

First Home Fund is a Scottish Government scheme which aims to help first-time buyers get on the property ladder. The scheme offers first-time buyers up to £25,000 towards the cost of a new build or existing property.

How does the First Home Fund scheme work?

The First Home Fund is a shared equity scheme. It works by splitting the cost of purchasing the property with the Scottish Government. The first-time buyer provides their own share through a deposit and mortgage, with the Scottish Government offering the remaining share, up to £25,000.

For example, let’s say the property you wish to buy is worth £150,000 and you want to put down a 10% deposit. The Scottish Government can provide £25,000, which means you have to provide a mortgage and deposit for only £125,000. With a 10% deposit (£12,500), you would require a mortgage of £112,500.

When it comes to selling the property, you would have to pay back the £25,000 to the Scottish Government. An alternative option is to pay the £25,000 back earlier buy increasing your equity share of the property.

Who can get a First Home Fund mortgage?

The First Home Fund scheme is available to all first-time buyers in Scotland, whether applying as a single applicant or jointly. Some requirements include:

  • The scheme is only available to first-time buyers in Scotland
  • The scheme can be used to purchase both new build and existing properties
  • The mortgage must be for at least 25% of the property value
  • The mortgage must be a repayment mortgage (not interest only)
  • The property can not be used as a buy-to-let
  • The maximum contribution is £25,000 or 49% of the property value (whichever is lower)

Why you should use a broker for a First Home Fund mortgage with bad credit

If you want to apply for a mortgage and have bad credit, the majority of standard lenders are unlikely to consider you. This leaves a small group of adverse credit lenders available, each with their own specific lending criteria.

As a specialised bad credit mortgage broker, I have a complete understanding of lending criteria for bad credit mortgage providers. I can review your credit file to understand your specific circumstances and match you with a lender who is likely to accept your application.

For more information on First Home Fund mortgages with bad credit, please call me 01494 526400 or complete my online enquiry form.


Years of Experience

I specialise in Bad Credit Mortgages for people who have a poor credit history because of any number of reasons.

Choice of Lenders

I am a Whole of Market, Mortgage Broker meaning I can talk to every lender to see about finding you the right mortgage.

Saving You Money

As a specialist Mortgage Broker for over 30 years I have a great deal of experience that will help save you time & money.