Mortgages...............?

is it possible to get a mortgage with quite bad credit rating, i have a joint mortgage but am being bought out and would like my own but have bad credit ratingMortgages...............?
We got a mortgage from Kensington who provide ';bad credit'; mortgages. It was a ';bad credit'; mortgage as I'd missed two payments on a mobile phone contract and on a credit card (yeah shocking I know, LOL!) and my partner had a bad credit rating due to taking out a loan when he was 18 to buy a car for his disabled mum. He couldn't keep the repayments up and it was repossessed.





The only problem with bad credit mortgages is the HUGE interest rate! We're paying 拢400 a month on an interest-only mortgage! But its still cheaper than renting - its about 拢550 pcm to rent around here and thats just dead money going into a landlord's pocket. A high street bank would have a much better rate of interest - but then if you have so much as a speck on your credit rating they won't touch you so are not much use really. Also bad credit mortgages trend not to offer repayment holidays and all the other nice little ';Perks'; the high street banks offer.





But hey, if it would end up cheaper to pay a mortgage than to rent (which it usually does) then go for it!





Get in touch with a mortgage broker - they should be able to hunt around and find someone who will accept you and lend to you.Mortgages...............?
It is, but your interest rates are liable to be higher.


Have a look at www.thehighstreetweb.com site and type in Mortgage in the search bar.


They will give you a list of lenders including those for self employed and poor credit rating
Probably not. If you are being ';bought out'; then of course you will have a small amount of cash to work with (your half of the property of which someone is buying you out) but to be honest, if your credit rating is that bad and you have a lot of outstanding debt, then you can forget it!