Bad Credit Mortgages For People With Very Bad Credit
Help For First-Time Buyers part 2
Graduate Mortgage
You could check whether you qualify for a graduate mortgage. This allows you to borrow more than the standard amount based on your salary with the help of a guarantor. The guarantor could be your parent.
Graduate mortgages differ from standard guarantor mortgages in that the guarantee is only for the part of the mortgage that is over and above the standard amount. With the latter type of mortgage, the guarantee is for the entire mortgage amount.
With a graduate mortgage, once you are earning enough money to cover the whole loan, the guarantor is released. This is good option to take if your parents are not in a position to guarantee the whole mortgage, but maybe just part of it.
Extend your mortgage
Most mortgages run for 25 years. However, if you take a longer one, say over 30 years, it means your monthly repayments will be lower. This is because they are spread out over a longer period of time.
Key Worker Living Programme
If you are a ‘Key Worker’, that is, someone who works in the education, police, health, fire or prison services, you could try the Key Worker Living Programme.
£690 million is being provided by the Government for the programme in a bid to help Key Workers afford to live close to where they work. At the moment it is only available in London and the South East.
The programme helps in a variety of ways such as subsidised loans or shared ownership depending on the type of programme being offered in your local area.
Right To Buy Scheme
If you have lived in a local authority property for at least two years, you may be able to buy your property at a discounted price.
| Different Types Of Mortgage For People With Bad Credit : bad credit mortgage companies in glasgow ... the bank were one of the first lenders in the uk to offer offset and current account mortgages ... it is still a familiar name on the high street with its branch network and also where barclays mortgages 100% Mortgages For Bad Credit In UK : mortgages bad creditors ... just for their mortgage products alone, these awards include: moneywise's best lender for discount ... at the moment it is only available in london and the south east Morgages For Frist Time Buyers With Bad Credit : bad credit history 100% mortgage ... capped rate mortgages with capped rate mortgages, a ceiling limit is set to how high your interest ... whenever a house over £124,999 is bought, stamp duty is paid to the chancellor of the exchequer |