Low credit score

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The borrowers

Sean is 21 and single. He is recently employed and a first-time buyer who currently lives with his parents. Sean’s family are gifting him a deposit for his first home, however, he has a low credit score.  

  • Sean is hoping to get on the property ladder and move out of the family home 
  • He earns £21k in his current role and has previous industry experience but as a first-time buyer he has never had a mortgage or any other credit and as he still lives with his parents he is not on the voter's role.
  • The property is a 2-bed house in the North East for £100k, £25k of which will be his gifted deposit 

How we can help

At Foundation, we offer mortgage products over multiple tiers to suit borrowers with a wide variety of credit histories and can cascade borrowers through our tiers depending on any credit blips they may have. We welcome first time buyers and are happy to consider gifted deposits. If you have a client like this we may be able to help, you can find out more on our criteria guide here.  

We love to talk a case through, why not call your Foundation Regional Area Manager today?  

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