As property and mortgage specialists, we at Mortgage & Lifetime Solutions know how difficult it is to obtain a property—residential or commercial—when you have bad credit. That’s why we offer you bad credit mortgage services in Bromley, so you can invest in a property even with your current credit standing. Our 25 years of experience in this sector puts us in a unique position to inform, advise and educate you on the ins and outs of your property investment options.
Why Credit Scores Matter
What credit score does is determining the rate of interest they’re going to charge you. The higher your credit score, the lower your interest rates will be. You also have to consider the kind of loan you’ll be having, whether it’s a secured or unsecured loan. Secured loans ask for collaterals in case you can’t pay for your loan. In the case of a bad credit mortgage loan, the home or property you’ve purchased might be used as collateral. For the latter, they won’t take any collateral, but you’re required to have good credit standing.