Bad Credit Mortgage

Find the Best Sub Prime, Adverse Credit and Bad Credit Mortgage Deals

Mortgages for borrowers with bad or adverse credit histories are known as sub prime mortgages.

Many high street lenders will refuse applications where the applicant has a poor credit rating. A bad credit record can be as a result of a County Court Judgements (CCJ), unpaid debts and/or missed credit payments. Additionally things like employment status, not being on the electoral roll, being at an address for a short time and/or not having a bank account can all contribute to a poor credit rating.

Specialist lenders are more sympathetic to individuals with a poor credit rating, recognising that past problems do not necessarily mean that future problems.
However a poor credit history does indicate that a borrower is a higher risk and as such the interest rate charged is likely to be higher than that charged by a mainstream lender.
The additional amount charged will be determined by the extent of the credit problems. Many of the best subprime mortgages are only available through mortgage brokers.

To search the best sub prime, adverse credit and bad credit mortgage deals in the UK click here.

Your home may be repossessed if you do not keep up repayments on your mortgage. Memigo Money provides information but does not sell or provide advice on mortgages or their suitability. There may be a fee for mortgage advice; the precise amount depends on your circumstances.

For adverse credit mortgages the overall cost for comparison will vary, the actual rate available will depend upon your circumstances. Ask for a personalised illustration.

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