Best Mortgage Broker Online in UK

Obtaining a mortgage for shared ownership with bad credit can be challenging , as lenders typically assess creditworthiness before approving a mortgage. However, there may still be options available to you. Here are a few potential avenues to explore: Specialist Lenders: Some mortgage lenders specialize in working with borrowers who have less-than-perfect credit. These lenders may have more flexible eligibility criteria, including lower credit score requirements. It's worth researching and reaching out to specialist lenders who may be more lenient towards borrowers with bad credit. Larger Deposit: A larger deposit can offset a lower credit score. If you have enough savings to put down a larger deposit, it can improve your chances of obtaining a mortgage for shared ownership despite having bad credit. Lenders may view a larger deposit as a sign of lower risk, which may offset your credit concerns. Guarantor: Another option to consider is having a guarantor with good credit co-sign...

A shared ownership mortgage for bad credit is a type of mortgage designed to help people who cannot afford to purchase a property outright. It is specifically aimed at those who have a low income, or who are struggling to get a mortgage due to bad credit. Shared ownership allows you to purchase a portion of a property, typically between 25-75%, and pay rent on the remaining portion to a housing association or a private landlord. If you have bad credit, you may think that getting a shared ownership mortgage will be difficult, but there are still options available to you. While it may be more challenging to secure a mortgage with bad credit, it is not impossible. The key is to do your research and find a lender who is willing to work with you. When looking for a shared ownership mortgage with bad credit, it's essential to be upfront with your lender about your financial situation. Explain any credit issues you have had in the past and provide evidence that you are taking steps to ...