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Bad Credit Mortgages

A bad credit mortgage is a type of loan specifically designed for people with bad credit histories.

What is Bad Credit?

Bad credit refers to a low credit score resulting from a history of poor credit management, such as missed payments or defaulting on loans.

What is A Bad Credit Mortgage?

A bad credit mortgage is a type of mortgage designed for people with a low credit score. These mortgages are often offered by specialist lenders who are willing to take on the additional risk of lending to individuals with poor credit histories.

Bad credit mortgages typically have higher interest rates and may require a larger deposit or a guarantor with good credit. In most cases, the terms and conditions of a bad credit mortgage can be more stringent than those of a standard mortgage, and the borrower may face higher fees and charges.

Can I Get a Mortgage With Bad Credit?

Yes, it is possible to get a mortgage with bad credit, but it can be more difficult and may require additional steps. You may need to work with a specialist lender who offers bad credit mortgages and be prepared to pay a higher interest rate. In some cases, you may also need to provide a larger deposit or have a guarantor with good credit.

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