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Applying for Shared Ownership Mortgages with a Bad Credit Rating

You may think that once you have bad credit then there is really no more hope for you in securing a mortgage. There are lenders in the market that provide shared ownership mortgages to those with a bad credit rating at 100% mortgage. We will guide you through the best way to avoid having your bad credit count against you.

Talk to a Broker

Having bad credit is never ideal but in this day and age it is more common than you think. For this reason the fincancial industry have had to become more innovative and make products available to people with bad credit or else these institutions would not have any customers.

There are many brokers available throughout the UK that can make it very simple for you and your partner to find a shared ownership mortgage. One such broker is Find A Mortgage Online. They have loads of information about the shared morgage process and even have a handy little calculator function that you can type in how much you are looking for as well as what percentage you want to buy and you will get back a list of mortgages that suit your constraints. You can visit their website at www.findamortgageonline.co.uk/sharedownership and get some quotes today.

Another broker offering shared ownership mortgages to people with a bad credit rating is First Choice Finance. You can get a free quote from them over the phone or online and they will make you a no obligation offer with a shared ownership mortgage package that is affordable to you. They have a dedicated page for those of you with bad credit histories on their website at www.firstchoicefinance.co.uk/Index.asp?T=Bad%20Credit%20Mortgages.

Shop Around to Find the Best Mortgage Deal

Even though your credit rating is not tip top, this is not a reason to blindly accept any offer you get on shared ownership mortgages. A bad credit rating is a green light for mortgage providers to push deals that are great for them on you. Now, more than ever, you need to shop around and compare the market to get the lowest percentage mortgage you can.

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