Bad credit mortgages provide you with the chance to clean up your credit. Bad Credit Mortgages may also offer relief from high mortgage and interest obligations with bad credit mortgages, but you can also get a lot more.
Bad credit mortgages allow you to purchase your dream house even though you have a bad credit record. Bad credit mortgages are aimed at people with sub-standard credit scores.
Whereas in the past just a number of specialist bad credit mortgage lenders catered for this portion of the market, now nearly every bank and building society includes a department specialising in bad credit mortgages and poor credit remortgages.
The mortgage you are likely to be offered for those who have a history of bad debt is sometimes referred to as a sub-prime or non-standard mortgage. It is no dissimilar to a standard mortgage, except that it may be offered by a slightly higher rate.
Once you have prevailed in obtaining your mortgage, your credit history instantly improves. As long as you keep up the repayments for some time, you will eventually be entitled to re-mortgage to some fully standard mortgage and therefore enjoy a wider selection of options. Even if you are buying for the very first time, you could arrange a 100% mortgage.
A lot of the high street lenders now have a lot of experience in the provision of adverse credit mortgages and may find a mortgage offer tailored to your particular needs.
Bad credit mortgages allow you to purchase your dream house even though you have a bad credit record. Bad credit mortgages are aimed at people with sub-standard credit scores.
Whereas in the past just a number of specialist bad credit mortgage lenders catered for this portion of the market, now nearly every bank and building society includes a department specialising in bad credit mortgages and poor credit remortgages.
The mortgage you are likely to be offered for those who have a history of bad debt is sometimes referred to as a sub-prime or non-standard mortgage. It is no dissimilar to a standard mortgage, except that it may be offered by a slightly higher rate.
Once you have prevailed in obtaining your mortgage, your credit history instantly improves. As long as you keep up the repayments for some time, you will eventually be entitled to re-mortgage to some fully standard mortgage and therefore enjoy a wider selection of options. Even if you are buying for the very first time, you could arrange a 100% mortgage.
A lot of the high street lenders now have a lot of experience in the provision of adverse credit mortgages and may find a mortgage offer tailored to your particular needs.
