GUIDES
What Credit Score Do You Need for a Mortgage? - GoMortgage®
Short answer: there is no universal “magic number” - but good credit helps a lot
In the UK, there isn’t a single credit-score threshold that guarantees you a mortgage. Every lender (and sometimes every mortgage product) has its own rules. Experian+2Moneyfactscompare+2
That said – having a good or excellent credit score usually improves your chances of approval, and can help you get better rates and more options. NatWest+2ams: access mortgage solutions+2
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What “Good” Looks Like (Credit Score Benchmarks in the UK)
Why Credit Score isn’t the Whole Story
Even a high score doesn’t guarantee a mortgage – because lenders look at more than just the number. Experian+2Experian+2
What else lenders consider
- Affordability: income, outgoings, deposit, other debts. Even with great credit, if your income or deposit is weak, you may struggle. NatWest+1
- Full Credit History: missed payments, defaults, CCJs, level of existing debt, payment rhythm. A single high score won’t mask serious issues. Mortgage Finance Brokers+1
- Type of income: salaried, self-employed, contractors, bonuses – lenders treat each differently. Credit score helps, but income consistency matters too. John Charcol+1
- Size of deposit / loan-to-value (LTV): Low deposit + high LTV adds risk for lenders – good credit helps, but deposit equity often carries equal weight. Pepper Money UK+1
In short: credit score helps lenders assess risk – but they make the final decision based on a broader financial and credit picture. NatWest+2Experian+2
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Can You Get a Mortgage with “Fair” or “Poor” Credit? – Yes, But It’s Tougher
You don’t need to have a top-tier credit score to get a mortgage. Many lenders – especially specialist or “adverse-credit” lenders – will consider applicants with lower scores, but often under stricter terms: higher deposit, higher interest rates, and fewer product options. The Mortgage Hut+2Lloyds Bank+2
It’s not impossible – but it’s riskier for lenders, so your application must be well-prepared, with clear evidence of stable income, existing deposit/equity and manageable debt.
Summary - What You Should Take Away
- There is no single “minimum credit score” that guarantees a mortgage. Each lender uses its own criteria. Experian+2Moneyfactscompare+2
- A “Good” or “Excellent” credit score with one or more major credit agencies improves your chances – and usually helps access better rates.
- Even with a fair or poor score – mortgages are still possible, though you may face stricter terms or higher costs.
- What matters most is your overall financial profile: income, deposit, debt, history – not just the number.
- As a specialist broker, GoMortgage can help turn your personal financial history – good or imperfect – into the best possible mortgage outcome.
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Contact our friendly mortgage advice team today. Sound mortgage advice from the experts at GoMortgage.
Author: Chris Days - Gomortgage
- 5 Mins
- Updated: Nov 17th 2025
Frequently Asked Questions
What types of properties can I buy with a commercial mortgage?
Commercial mortgages can be used to purchase or refinance offices, retail units, warehouses, industrial buildings, mixed-use properties, hospitality venues, and other business-focused premises.
Do I need to be an established business to apply?
Not always. Many lenders work with both established businesses and new ventures, but eligibility will depend on factors like credit history, financial projections, business performance, and the property’s potential income.
How much deposit do I need for a commercial mortgage?
Commercial mortgages typically require a deposit of 20–40% of the property value, depending on the lender, your financial strength, and the risk associated with the property.
What documents will I need when applying?
Most lenders require business accounts, proof of income, bank statements, identification, details of the property, and in some cases, a business plan or future revenue projections.
Are commercial mortgage rates higher than residential mortgages?
Yes, commercial rates are usually higher because lenders see commercial borrowing as higher risk. However, rates vary widely depending on your business finances, credit profile, deposit size, and property type.
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