Brunswick Homeloans

Poor Credit Mortgages

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Poor Credit Mortgages

For those of you with a poor credit score the chances of getting a mortgage can be considerably less. However, there are lenders out there who specialise in dealing with poor credit so not all hope is lost when it comes to buying a home and arranging a mortgage. Yes it is true, some lenders only want to deal with those who have faultless credit histories, perfect work records and adequate deposits. But money problems can affect everyone. Poor credit can be linked to a loan default, taking out payday loans, county court judgements or being a discharged bankrupt but there are lenders who will consider these situations.

Sometimes people get into debt through no fault of their own and, even if they have been to blame, want to sort things out. Certainly no-one taking out a mortgage wants to see their property repossessed.

Poor credit mortgages are unlikely to match standard mortgages; lenders in the poor credit market – which is also sometimes described as ‘sub-prime’ or ‘non-conforming’ – will charge higher rates.

Brunswick have worked in the poor credit mortgage industry for the last 40 years and have a clear understanding of what criteria is acceptable to the lenders in this area of the market.

A mortgage may not be available in all cases, but we’ll always try our best and help you understand what you need to do to improve your chances in obtaining a mortgage in the future. Why not give us a call today and see how we can help you.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

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