Mortgage & Property Advice Centre for First Time Home Buyers

First Time Buyers Mortgages

Poor, Adverse or Bad Credit Mortgages

What are Poor, Adverse or Bad Credit Mortgages?

What ever your credit history is you might be able to get a mortgage – sometimes a shared ownership one too. Impaired shared ownership allows borrowers with minor credit problems (up to £3,000 in CCJs and two missed rental payments in the last 12 months) to benefit from a shared ownership deal if they qualify.


Poor, Adverse or Bad Credit Mortgages – Advantages

Although loans are only available up to 75%. the mortgage allows even the most unlikely of candidates to get a foothold on the housing ladder. It can make sense to clear debts and get your credit rating back up to scratch before taking on the debt of a mortgage.


Poor, Adverse or Bad Credit Mortgages - Disadvantages

The interest rate is not competitive and comes with a three-year tie-in.

If in conjunction with shared ownership, you will still need to find 25% of the proportion of the property you are buying as a deposit.


Lenders Specialising in Poor, Adverse or Bad Credit Mortgages

Best to contact a mortgage advisor or broker to check out the latest offerings

 

Poor, Adverse or Bad Credit Mortgages Mortgage Advice

Whatever your current position, to find out if you qualify for a full or shared ownership mortgages seek no-commitment mortgage advice.

Features, advantages and disavantages of specific first time buyer mortgages:

100% Mortgages l Cashback Mortgages l High LTV Mortgages l Graduate Mortgages l Professional Mortgages l Mortgages with Parents l Guarantor Mortgages l Family Offset Mortgages l Mortgages with Friends or Family l Mortgages at University l Rent a Room Mortgages l Affordable Mortgages l Interest only Mortgages l Part Repayment Part Interest Mortgages l Shared Ownership Mortgages l Poor, Adverse or Poor Credit Mortgages l Key Worker Mortgages l Shared Equity Mortgages l 30, 35, 40 Year Term Mortgages


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Prospects for first time buyers in 2010...

Do you think mortgage lenders will be more generous in 2010?

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Is 2010 a better year to step onto the property ladder?

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If new houses were the same price as old ones would you be more likely to buy one?

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Do you fear that landlords will start snapping up smaller properties again?

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Are you losing hope of ever getting onto the property ladder?

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