What are Poor, Adverse or Bad Credit Mortgages?
What ever your credit history is you might be able to get a mortgage – sometimes a shared ownership one too. Impaired shared ownership allows borrowers with minor credit problems (up to £3,000 in CCJs and two missed rental payments in the last 12 months) to benefit from a shared ownership deal if they qualify. Poor, Adverse or Bad Credit Mortgages – Advantages Although loans are only available up to 75%. the mortgage allows even the most unlikely of candidates to get a foothold on the housing ladder. It can make sense to clear debts and get your credit rating back up to scratch before taking on the debt of a mortgage. Poor, Adverse or Bad Credit Mortgages – Disadvantages The interest rate is not competitive and comes with a three-year tie-in. If in conjunction with shared ownership, you will still need to find 25% of the proportion of the property you are buying as a deposit. Lenders Specialising in Poor, Adverse or Bad Credit Mortgages Best to contact a mortgage advisor or broker to c
