#mortgage for bad credit
Mortgages for bad credit
Far more bad credit mortgages are sort in today’s economic climate. Many mortgage lenders are offering very advantageous mortgage products for people who find they have bad credit.
Mortgage-calculator.uk.com have a committed team who specialize in bad credit mortgages offering mortgage answers for customers who are not deemed the normal run-of-the-mill mortgage seekers. We will go over ways of you improving your bad credit rankings with top of the range advice and all the choices which are obtainable out in the mortgage market place. We can help you whether you are a first-time buyer, a home mover, remortgaging or want to buy-to-let.
We will try to help no matter what the reason for your bad credit rating.
It could be that you are in arrears with your mortgage, secured loan or rent repayments. You might have a County Court Judgement (CCJ) or are self-employed with no accounts to show detailing your earnings. You might have bad credit ratings because you have missed a few credit card payments or you have been made bankrupt in the past. None of these mean you are unable to get a mortgage.
Of course interest rates on bad credit mortgages are greater than a normal mortgage and you will more than likely be required to put down a much bigger deposit which could be in the region of 30 per cent of the value of the property you are buying. This is because individuals with bad credit ratings are considered a higher risk to lenders. The types of mortgages available are fixed, variable as well as discounted rates.
Whilst you are paying off a bad credit mortgage your credit rating will start to improve and this will eventually result in a lower rate of interest being charged, it obviously will take time.
A bad credit mortgage will help those of you who have poor credit rating, in getting a mortgage. They can also be called sub-prime mortgages or adverse credit mortgages. They are actually the same as a normal mortgage but are specifically designed for those individuals that have failed the normal credit checks a lender makes.
Fill out our no obligation quote box and we will call you back to discuss your situation and how we can help.