Bad Credit Mortgages

We have been providing bad credit mortgages for many years, and have access to a wide range of appropriate lenders.

Given the high number of bad credit mortgage deals on the market, it can be very confusing and time consuming identifying which is the best product for you, with so many things to take into consideration when choosing a suitable deal.

For instance certain products have "tie ins" or "overhangs", which may not make it cost effective, many have high arrangement fees, or high lending charges, etc. A comprehensive explanation of these terms are given in our printable version of a mortgage glossary.

We will clarify fixed rates, discounted rates, flexible mortgages, standard variable rates and many other aspects, so that you are then in a strong position to make an informed choice about your new mortgage.

There are also a very varied range of interest rates available from the lenders depending on your circumstances. The most competitive rates are accessibly to borrowers who have not had credit problems, have a significant deposit, and income which fits the lender's income multiples.

From time to time, for many reasons, a client may not be able to offer proof of their income. Some lenders provide a mortgage based on the applicant self certifying their own income. A larger deposit is needed in these circumstances, often around 10% of the purchase/value price.

Adverse Credit Mortgages

Particular people could be refused mortgages by their bank as a result of bad credit history. However, there are many 'sub prime lenders' able to take applications that many a high street lenders would refuse.

As specialist bad credit mortgage lenders, they might have different criteria for their lending, but can still provide a competitive product, however the interest rate will always be higher depending on an applicants personal circumstances. It is possible that after having a 'sub prime' mortgage for a while, assuming that the repayments are made on time, that you could transfer to a high street lender in the future.

The overall cost for comparison is 6.5% APR. The actual rate available would depend upon your particular circumstances. We are more than happy to provide a personalised Bad Credit Mortgage illustration to suite your your particular circumstances.

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