1.99%
There is often a misconception that a history of bad credit
means that getting a mortgage is almost impossible. This is not the
case, as many mortgage lenders actually offer bad credit mortgages
for people who are currently financially secure, but have had
problems with their credit scores in the past, such as CCJs,
mortgage arrears, or even bankruptcy.
What Exactly Is a Bad Credit Mortgage?
A bad credit mortgage is the same as any other standard
mortgage, in that the mortgage lender loans the customer a
pre-agreed amount of capital, which is then repaid along with an
agreed rate of interest over a specific timeframe. As with other
mortgages, there are a variety of bad credit mortgage loan products
available, including fixed and variable interest rates.
The best rate mortgages on offer to you will also depend on the
size of deposit you are able to afford. Alternatively, having a
significant amount of cash savings may open up a number of more
generous bad credit mortgage loans, as you may be deemed less of a
risk by the mortgage lender.
However, the main difference with a bad credit mortgage is that
the rates on offer tend to be less competitive than standard
mortgages, with higher interest rates, restrictions and generally
more severe penalties.
Specialist Advice for a Specialist Bad Credit Home Loan
Market
Although the bad credit mortgage home loans market is
significantly smaller than the standard mortgage market, it's still
worth searching for the very best bad credit home mortgage rates.
The mortgage marketplace is complex and dynamic, with rates and
products changing on a daily basis. As professional, independent
brokers and mortgage advisors, we are able to do the hard work for
you by quickly and efficiently searching out the best deals to suit
your individual circumstances and requirements.
Poor Credit Doesn't Mean A Poor Mortgage Loan Rate
Whether you've previously been discharged from bankruptcy,
incurred penalties due to mortgage arrears, have large credit card
debt, or received a CCJ, we're here to make finding a bad credit
mortgage as easy as possible. Our priority is to find the best
deals for our customers, and advise on ways to improve credit
scores. We're not restricted to certain products or lenders; we
search the entire mortgage marketplace to find the best deals, from
banks and building societies, through to specialist adverse credit
mortgage lenders and providers that do not deal with the general
public.
With over 30 years of experience and a full and comprehensive
knowledge of mortgage products, we can not only guarantee an
expert, impartial mortgage-finding service, but also assist you
throughout the entire application process too.
Contact us today to start arranging your bad credit mortgage
loan today.