Bad Credit Mortgages Hornchurch

Bad Credit Mortgages Hornchurch: A Path to Homeownership

A bad credit mortgage, also known as an adverse credit mortgage, is designed for individuals with a poor or limited credit history. These mortgages provide an opportunity to secure financing when mainstream lenders may decline your application. While the terms may differ slightly from standard mortgages, bad credit mortgages offer a vital lifeline for achieving homeownership and rebuilding financial stability.

What Are Bad Credit Mortgages?

Bad credit mortgages are tailored for borrowers with issues such as:

  • Missed Payments: On loans, credit cards, or bills.
  • Defaults and CCJs: Previous financial difficulties reflected on your credit report.
  • Bankruptcy: Or other significant financial challenges in the past.

Lenders offering bad credit mortgages assess your circumstances individually, considering factors like your income, deposit size, and how long ago the credit issues occurred.

Why Consider a Bad Credit Mortgage?

If you’ve been turned down by traditional lenders, a bad credit mortgage can provide:

  • Access to Homeownership: Enables you to buy a home despite a poor credit history.
  • Tailored Lending: Lenders specialize in understanding unique financial circumstances.
  • A Fresh Start: Managing a bad credit mortgage responsibly can improve your credit score over time.

While interest rates may be higher, options exist to remortgage to a better deal as your credit improves.

Benefits of Having a Mortgage, Even with Bad Credit

Taking on a mortgage, even with a less-than-perfect credit score, offers several advantages:

Property Ownership: Avoiding rental costs and building equity in your home.
Stability: Fixed payments can provide predictability and long-term planning.
Improved Credit History: Regular repayments can demonstrate reliability to lenders

Monthly Mortgage Payment Calculator

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This calculation is a guide to how much your monthly repayments would be. The exact amount may vary from this amount depending on your lender's terms.

Monthly Mortgage Payment Calculator

Estimate your monthly mortgage payments quickly and easily, helping you plan your finances with confidence.
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This calculation is a guide to how much your monthly repayments would be. The exact amount may vary from this amount depending on your lender's terms.

Stamp Duty Calculator​

Discover your stamp duty costs instantly! Use our stamp duty calculator to explore the costs involved on your purchase.

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This calculator is provided as a guide only on how much stamp duty land tax you will need to pay in England and Northern Ireland. It assumes that the property is freehold and for residential purposes.

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THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR PROPERTY. YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBTS SECURED ON IT.

Instant Mortgage Solutions Limited is authorised and regulated by the Financial Conduct Authority.

FRN 938412 Registered in England & Wales, Company registration No. 12463907. Registered office: 21 Station Parade, Hornchurch, RM12 5AB.

If you wish to register a complaint, please write to info@instantmortgagesolutions.co.uk or telephone 01708 509161.
A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request and if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at www.financial-ombudsman.org.uk or by contacting them on 0800 0234 567.

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