Nationwide Financial Advisory Services. We are an impartial brokerage with access to the whole market
Place your confidence in the experts to secure your next mortgage.
Telephone: 0116 326 9786
Poor Credit Mortgages
If you have poor credit you might still be accepted for a mortgage.
Poor credit mortgages are designed to help people with an adverse credit rating get a mortgage. You may also have heard of sub-prime mortgages or adverse credit mortgages, these terms all refer to the same thing and can be considered interchangeable.
Although the interest rates charged on bad credit mortgages will be higher than they would have been if you took out a normal mortgage, they can help you in the long run. This is because over time they have the ability to improve your credit rating if you stay on top of payments.
If you’ve had CCJs, Defaults, Missed Payments or any other credit issues – we may be able to help.
Our experts can access a large number of different mortgage products from high street and specialist lenders.
One thing that you should be aware of when taking out a mortgage with bad credit, is that interest rates will be higher than they are on standard mortgages. This type of mortgage will also require a larger deposit or equity than other forms of mortgage.
Another thing that is worth noting is the fact that if you have bad credit, you may not be eligible for help from government schemes such as Help to Buy or Shared Ownership.
It should be noted that if you are looking to raise capital to repay short term debts this could increase the term over which they are paid and therefore increase the overall amount payable.
You may have to pay an early repayment charge to your existing lender if you re-mortgage.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Your home may be repossessed if you do not keep up repayments on a mortgage or any debt secured upon it.
Nationwide Financial Advisory Services Limited is Authorised and Regulated by the Financial Conduct Authority.
Registered at 26 Broombriggs Road LE3 9QN. Company Number: 11323737.
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