However 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.
Adverse bad credit loan
mortgage lenders offer a range of products to help people with any of
the following circumstances raise finance for a property:
People with IVAs or CCJ's
against their name
Someone with mortgage arrears
People who have adverse or bad
credit against their name
Borrowers who have been
declared bankrupt
People with defaults looking to
borrow
The options open to you will depend
on whether you fall under the light, medium or heavy adverse classification and
what amount of deposit you have available to purchase your home. On the whole,
the grimmer your scenario gets the higher your interest rate and deposit
required is going to be.
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