Bad Credit Mortgage

A bad credit mortgage or bad credit remortgage is designed to help borrowers get on the property ladder if they have made mistakes in the past such as late mortgage or rent payments. Otherwise known as a non status, adverse or sub prime mortgage, bad credit mortgages are no different from standard mortgages, apart from slightly higher interest rates. Because of their “high-risk” status, borrowers with blemishes on their credit history are forced to pay these inflated rates, increasing the overall cost of the loan. However, if you keep to the agreements of the loan and meet all the required mortgage repayments after three years your credit record will no longer be considered as adverse.

By switching mortgage products after the 2/3 years to a standard mortgage, called remortgaging, you could enjoy significant savings using discount interest rates. Leybridge Limited offers a complete service where a qualified, experienced mortgage advisor will find you the right product based on your circumstances and will maintain this relationship in the future, with the aim of returning you to a lower interest rate.