These mortgages are designed for people that have a poor credit rating. A credit rating is the history of other debts and existing debts. If for whatever reason you have missed or been late with repayments on any other form of credit the credit reference agencies will be aware. All lenders report the repayment patterns into the credit agencies and have access to your payment history.

The lenders will see if you have been late or missed payments. Most high street lenders will not lend money to people that have a poor credit rating. However as adverse credit is so common there are many specialist lenders that have products for most people.

These products will offer have large fees attached to the mortgage and much higher interest rates. This is because the risk is much higher of non-payment.

If you think you have a poor credit rating you ca contact a credit reference and obtain your credit profile.

Many lenders will also require a larger deposit than a clean mortgage; again this is due to the risk being higher.

To obtain a mortgage quotation from a specialist simple complete the enquire form and an adverse mortgage broker will find the best mortgage for you.

Type Of Mortgages

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The overall cost for comparison is 7.8% APR