Unfortunately there is no one word answer to this question, as there are a number of factors that will have an impact on the response.
In basic terms we have a number of lenders, some who specialise in mortgages for clients who do not fit the high street mould, and others who are prepared to help clients who have historical adverse credit.
Thank god not all lenders base their decision to lend on points scored, with some lenders still using a commonsense decision to lend or not.
The major change in the terms available to clients who have adverse credit, has been the attitude of lenders who back in 2007 would almost accept any level of adverse credit by loading the interest rate and the fee structure, through to today where the terms in some cases can be the same for all clients, and with our specialist lenders a marginal loading on the terms. What do all lenders want who are prepared to help, a much bigger deposit, which is their comfort zone when taking on the clients seen as attracting an increased risk in lending.
The size of the deposit will vary but you would normally expect to have to find a 20/25% deposit which lenders like and feel comfortable with. Couple this with historical adverse credit, at least two years old, and in most cases satisfied, and you start to see how lenders are now thinking.
If you have had a credit problem in the past ( more than two years ago ) and you have not had any issues since, there is a chance we can identify a lender who may help you. The more historical the problems the better, and in an ideal world satisfied, and your chances get better. The bigger the deposit that you have again will increase your chances of success, and may mean more competitive terms.
Watch this space for positive changes in the mortgage market place.