What is a Bad Credit Mortgage?

Bad Credit Mortgages

Bad credit mortgages can come with cost and time implications when working with brokers and lenders. Due to the higher perceived risk, lenders may charge higher interest rates or require larger down payments to offset the borrower's credit history.

Additionally, the process of finding a suitable lender willing to work with bad credit can be time-consuming. Working with a specialised mortgage broker experienced in bad credit mortgages can be beneficial, as they have access to a network of lenders who are more open to providing financing options to individuals with poor credit.

However, it's important to note that the overall cost and time implications will vary based on the severity of the credit issues and the specific terms negotiated with lenders.

Your Home (or property) may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it. 

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