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

Our experience as first time buyers was simply exceptional! We have been guided through the mortgage process and buying our first home has been an easy journey thanks to your professionalism and efficiency.

13th Jan 2022

After thinking I was going to lose the new home I had fallen in love with, Steven worked hard with me and understood my circumstances. I was at the point of nearly giving up and within 4 weeks I had a full mortgage offer. Thank you for making my dreams come true. I would highly recommend your services. Absolutely no bull or jargon.

T Jones
10th Jan 2022

The service we have received has been amazing. We were kept up to date every step of the way. Honestly, the relief on my face when I received your email with the mortgage offer was priceless. I can not thank you both enough you are both amazing at what you do. We can not thank you enough for everything, Thank you so much, you have made our dreams a reality.

4th Nov 2021

Thank you foremost for choosing to specialise in adverse credit services for people. All we read online is that it is not possible or easy to get any form of credit when you have or settle an IVA and I’m so glad I kept looking and found you. You have helped us more than you’ll ever realise. We are so happy to have a chance to start again and be able to remain on the property ladder, all thanks to you.

1st Nov 2021

I would highly recommend Steve and Sue. Getting a mortgage seemed to be difficult for me at first when speaking to another advisor, I very nearly gave up due to the lack of effort and communication. Once we got in touch with Steve everything fell into place. Both Steve and Sue were very professional and informative throughout the process.

27th Jan 2022

Steven & Sue have been absolutely amazing through the whole process – extremely calm, organised and helpful. We will definitely be using them in the future and would highly recommend them to family & friends.

20th Sept 2021

Steve and Sue have been absolutely amazing. I was really worried about my financial history meaning I wouldn’t be able to get a mortgage but they were nothing but supportive and non-judgemental, always available to explain things and answer questions as well as extremely efficient.

18th Jan 2022

The professionalism of Steve and Sue is second to none. We were advised of our options and guided through the application process every step of the way. The big thing for us was the personal touch and relationship we built. My wife and I both agreed it felt like Steve and Sue are so motivated because they actually want to help. Probably the best professional service I have ever used so if you find yourself in need of a specialist mortgage broker look no further. Great service great people.

28th March 2022

Struggling to ‘get back’ on the housing ladder after 15 years and being ‘self-employed’ was proving near enough impossible, until we found Steve & Sue. They found us a lender that would use my ‘day-rate’ rather than the usual ‘self-assessment’ and even though there was stumbling blocks along the way, they get us over the line with a ‘mortgage offer’! We can’t thank them enough and would definitely have no hesitation in using them again!

28th July 2021

A fantastic service provided by SN Mortgages once again. Highly recommend SN Mortgages, they have been brilliant at finding the best rates for us, keeping in regular communication and quite frankly achieving the impossible! Where other brokers fail to come back to us or could not find a deal, SN would always go the extra mile and revert back. Thank you so much!

22nd July 2021

We are so grateful to Sue and Steve for all their effort in helping us get our mortgage. Their knowledge and clear love of their job shines through and they have been on hand to answer all our questions no matter how silly or small. They have clearly explained everything from start to finish which has made us feel so much more at ease throughout the whole process. We can’t recommend them enough!

1st July 2021

If you are looking to get a Shared Ownership mortgage with bad credit, you will find it is almost impossible to get accepted from a high street lender. However, there are a small number of specialist adverse credit lenders who can offer Shared Ownership mortgages.

Can you get a Shared Ownership mortgage with bad credit?

I have helped many clients with poor credit to buy their first home via Shared Ownership. These include people with missed payments and defaults, to CCJs and more serious credit issues.

  • Missed and late payments
  • Defaults and CCJs
  • Debt management plans
  • IVAs
  • Mortgage arrears
  • Bankruptcy

Before applying for a Help to Shared Ownership 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.

Can I get a 100% Share Ownership mortgage with Bad Credit?

I work with a select few lenders who are able to provide 100% shared ownership mortgages to those with bad credit, making shared ownership a great option for those with little or no deposit.

Lenders of 100% shared ownership mortgages will look at the type of bad credit you have, such as missed payments, defaults or CCJs, as well as the status of these accounts and whether they are settled or outstanding. The lender will also consider how long ago these bad credit marks were registered.

Can you get a Shared Ownership mortgage with defaults?

Yes, it is possible to get a Shared Ownership mortgage with defaults on your credit file. I work with a few lenders who are willing to lend with those with one or more defaults. 

The most important thing about getting a Shared Ownership mortgage with defaults is how long ago they were registered. Lenders will also consider the value of the default, and whether it has been repaid.

Can you get a Shared Ownership mortgage with CCJs?

Although not easy, it is possible to get a Shared Ownership mortgage if you have a CCJ registered on your credit file. I’ve helped several clients with CCJs to buy their first property via the Shared Ownership scheme.

As with defaults, the lender will want to understand when the CCJ was registered and for what value. As a general rule, the longer ago the CCJ was implemented, the better your chances of acceptance.

Those with bad credit will find they usually have to provide a deposit if they wish to apply for a mortgage. Saving up such a deposit is no easy task which is why Shared Ownership is such a popular option for anyone with bad credit as you can borrow up to 100% of the share you want to buy.

Can I get a Shared Ownership Mortgage with an IVA?

It is possible to get a Shared Ownership mortgage having had an IVA. I work with a few lenders who are able to offer Shared Ownership mortgages to those who have had an IVA, who will consider when the IVA was registered and what the circumstances were around it. As with most credit issues, the longer ago it was, the higher chance of acceptance there will be.

Can I get a Shared Ownership Mortgage with a Debt Management Plan?

Similar to IVAs, I work with a few lenders who will consider applications for Shared Ownership mortgages from those who have had a DMP registered on their credit file. As with other credit issues, the details of the DMP will be the deciding factor when it comes to acceptance, with DMPs which are cleared and a few years ago having a greater chance of success.

What is the Shared Ownership scheme?

The Shared Ownership scheme was introduced to allow those on lower incomes to get on to the property ladder. The scheme works by allowing buyers to purchase a share of a property (usually 25% – 50% initially) while paying rent on the remaining share. 

How does it work?

If you wish to purchase a property costing £150,000 through Shared Ownership, you could start with an initial share of 25%. This would require a mortgage of just £37,500, which would enable someone working full-time on minimum wage to meet the income criteria for a mortgage, in most cases.

Another benefit of Shared Ownership mortgages is the small deposit required, due to the size of the mortgage. Using the example above, a 10% deposit would only mean having to save £3,750. However, I know of 2 lenders who would consider lending the full £37,500, meaning you would not have to save for a deposit at all.

In addition to the mortgage payments, you would also pay a monthly rental fee equivalent to 75% of the typical rental costs for the particular property.

Over time you have the option to purchase further shares of your property, usually in increments of 10%. This will also reduce the amount of rent you are currently paying on the share of the property which you do not yet own.

Who can get a Shared Ownership mortgage?

You are likely to be accepted for the Shared Ownership scheme if you meet the following criteria:

  • You are a first time buyer or previous homeowner who cannot afford to buy
  • You have an income of less than £80,000
  • You wish to buy a property which is offered through a Shared Ownership scheme

Where to start with Shared Ownership?

Start by looking in your area for Shared Ownership properties for sale. These can be new build or second hand properties offered by a Housing Association. Registering with your local Housing Association can keep you up to date with newly available properties.

Once you have found a property, call me with the details including the market value, share you want to buy and your deposit. From a 10 minute discussion, I will be able to determine if you could get a Shared Ownership mortgage, even if you have bad credit.

Why you should use a broker for a Shared Ownership mortgage with bad credit

There are very few lenders who offer Shared Ownership mortgages to those with poor credit. This makes getting the application right first time vital. 

A specialist adverse mortgage broker such as myself has a full understanding of lending criteria. I can use this to match you to a lender who I am confident will accept you application for a Shared Ownership mortgage.

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

If you’re looking to buy a property in Scotland, I can also help you find a First Home Fund mortgage with bad credit, as part of the new Scottish Government scheme.


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.