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Get A Mortgage With Bad Credit

In the old days if your credit history was less than perfect, the only mortgage you would be offered would be one with extortionate interest rates from a shady broker.

Nowadays, there are more sympathetic lenders who will offer you a bad credit mortgage without charging you sky-high interest charges. And because there are more lenders out there now offering these non-standard mortgages, it has driven the interest rates on them down which is good news!

The term ‘Bad credit’ can be anything from County Court Judgements (CCJ’s) on your credit file to something like having missed a mobile ‘phone payment or made a few mortgage payments late.

More and more people now have a ‘bad’ credit file. Rising inflation and credit companies making it easier for people to borrow means that just because you have a bad credit file, you are not rubbish with money!

So, what can you do to get a mortgage, without being ripped off by greedy lenders?

First of all, if you are considering using a mortgage for debt consolidation, do bear in mind that it will probably cost you more in interest in the long run. And also the debt will be secured against your home, so you must really ensure that it is affordable to you.

And when it comes to choosing a mortgage, do not apply for the first mortgage that you see. TV adverts saying that they can help people with bad credit are all very well – but many of them charge as much as a 3% fee to arrange a sub-prime mortgage. So, on a £150,000 mortgage, they get £4,500!

Get independent advice from an independent mortgage specialist as well as doing your own research. ‘Bad credit’ no longer has the financial stigma it used to, so hold out for the right deal for you.

Mortgage Companies That Deal With Bad Credit : finding a mortage with bad credit ... the skipton mortgage range includes fixed rate mortgages; tracker mortgages; discount mortgages; additional ... someone with a 10% deposit will have more mortgage options available to them than someone with a 5%

100% Mortgage With Bad Credit History : 125% mortgages with bad credit history ... the alliance & leicester's roots started in 1852 with the formation of the leicester permanent benefit ... there are some lenders that will offer you more but they will charge you a higher interest

Morgage Lending For Bad Credit : hundred percent mortgages in uk for bad credit ... the nationwide building society is the largest building society in the world as well as being britain's ... the second benefit of having a savings account is that it will look good on your credit file as it demonstrates