Bad Credit Mortgages
Yes! It’s possible to arrange a mortgage for you, even if you have bad creditYour home/property may be repossessed if you do not keep up repayments on a mortgage or other debts secured on it.
Mortgages for Bad Credit from an Expert Impartial Broker
When you finally find the home of your dreams (which is rather like finding a needle in a haystack) a bad credit score shouldn't hold you back from getting it. However, for many people who have a poor credit score, this is the reality; securing a mortgage can prove so difficult (or entirely impossible) that what should be one of the most exciting parts of your life becomes fraught and stressful.
However, all hope is not lost; there are still lenders which offer credit to those with bad credit. You just need to know where to look! The high street isn't always the most suitable place, though. You should use experts like Henry James Mortgages Ltd instead of typing 'how to get a mortgage with bad credit' into every search engine you can think of. We could make the process as simple and easy as possible by finding the right mortgage for you through our number of connections.
If you're tired of searching fruitlessly for a mortgage that is compatible with your bad credit, you need look no further than this; we at Henry James Mortgages Ltd are here to help you get your dream home. Our dedicated staff offer an invaluable service and can source the most appropriate possible rates for your mortgage. So don't delay - contact us today!
Does a bad credit mortgage cost more?
The short answer is that yes, poor credit is likely to make your mortgage more expensive; banks and lenders tend to offer different rates to those with good credit. However, a skilled and well-connected mortgage broker can often get you rates which are comparable to the kinds of deals that someone with good credit might find on the high street. This is partly due to experience and connections, but the recent influx of lenders into this market has made it more competitive in the last 2 years
Of course, our experienced brokers can do all of the legwork for you and will find the most competitive rate they can. Remember, however, that the exact offers you receive will vary based on all facets of your personal circumstances.
My partner's rating is poor. Can we get a joint mortgage?
Generally speaking, a joint mortgage allows you to borrow more because both of your incomes are counted. Furthermore, if you have good credit and your partners is poor (or vice versa) it will often be easier to get a joint mortgage than a singular one. This is not always the case, however.
Lenders will take both of your credit histories into account when deciding whether or not they are willing to lend to you, this much is true, but it's not the only thing they will consider. The size of your deposit will also have an effect. Various lenders will use different calculations and considerations to decide on whether they will approve your mortgage and at what rate they will offer it. This is why a broker can be of real help; they will have a good sense of which institutions are most likely to lend to you.
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