Are there mortgage lenders that don’t credit score?

Home Blog Are There Mortgage Lenders That Don’t Credit Score?
Pete Mugleston

Author: Pete Mugleston

Mortgage Advisor, MD

Updated: March 15, 2024

Are there mortgage lenders that don’t credit score?

The short answer is yes, but the reality is there aren’t many lenders who will provide a mortgage without a credit score. It is possible, but it will entail quite a lot more work from your end to prove that you can repay a mortgage.

There are some people, who for various reasons, don’t have a credit score. These ‘credit invisible’ people may not have done enough recent transactions to get a viable score.  Young people just entering the workforce, retirees or returning expats may fall into this category.

Is no credit score as bad as a poor credit score?

It’s important to remember that no credit is not the same as bad credit, and there are two different types of credit score you should be aware of.

The first is a credit score provided by a credit reference agency such as Experian, and the second type is given to your mortgage application by a lender. The good news is that a zero-credit score is not usually as much of a problem as a bad credit score.

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Do you need a credit score?

It is unlikely that high street lenders will approve a mortgage application for someone with no credit history, but there are smaller lenders, such as specialist building societies, that may use their own credit scoring process.

They still perform a credit check, but these are usually to find out if you have any adverse credit history such as missed payments (car, credit cards etc), CCJs (County Court Judgements) or arrears (rent or loan repayments).

These mortgage applications are done manually on a case-by-case basis, so the process can be quite time consuming, which is why they are not popular with larger mortgage providers.

How to improve your chances of getting a mortgage with no credit score

First, you need to make sure you are on the electoral roll. This is not just a legal requirement, but is also a very important piece of data for tracking your credit, and mortgage lenders may be less inclined to help if you’re not registered to vote.

A large deposit also helps. If you are just entering the workforce, perhaps family members can help you with a gifted deposit or act as a guarantor.

It can take as little as three months to build a zero-credit rating into a good one. This can be as simple as getting a basic credit card, store credit, a mobile phone contract and some utility bills in your name. Make any repayments in full and on time to show you are a responsible borrower.

For the best chance at getting a mortgage with no credit score, it is recommended that you talk to a mortgage expert to find out the best options for your particular circumstances. The right broker might even be able to match you with a lender who doesn’t use credit scoring at all.

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