Bad Credit Mortgages Tips

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Tips – Bad Credit Mortgages

  • Credit repair deals have higher interest rates than standard mortgages but allow borrowers to revert to a high street mortgage after 2-3 years to benefit from more competitive rates.

  • You must decide whether to opt for the security of a fixed rate mortgage, which can help you with budgeting if you are not particularly financially disciplined, or a discounted variable rate, which may offer lower repayments to start with, but is subject to market fluctuations.

  • It is a good idea to shop around and ask for advice before you take on a mortgage. This site can help you find the cheapest rates quickly and easily, but you should also sit down with someone you can trust and who understands your finances.

  • Even if you think you might have a bad credit rating, it is always worth trying your luck with a high street mortgage broker.

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