Bad and adverse credit mortgages
Bad and adverse credit mortgages as well as bad and adverse credit re-mortgages are mortgage products designed for those with a bad credit history.
If you have problems getting credit, have been declared bankrupt, have CCJ’s, been repossessed or have entered an individual voluntary agreement (IVA) a mortgage designed for borrowers who have adverse credit could be your only method of borrowing to buy a property.
Bad credit mortgages have also been known in recent years as sub-prime mortgages and were one factor that helped to create the financial crisis in 2008.
Bad credit mortgages or bad credit re-mortgages usually charge a higher interest rate than a normal mortgage because of the perceived risk in lending to individuals with a bad credit history.
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- Clydesdale and Yorkshire Banks bring in lower rate mortgages
- MBNA implements improvements to Everyday Credit Card offer
- Coventry boosts bad credit mortgages
- Universal Credit welfare and benefits changes begin
- Bad credit mortgages soar
- Sainsbury's ups the ante in supermarket credit card battle
- HMRC misses tax credit fraud target by £5 billion