- 31
- May
A poor credit history will not necessarily see borrowers face higher mortgage rates, one firm has claimed.
According to London & Country (L&C), those with an adverse financial history - which could include those who have taken out a bad credit loan - can still find themselves accepted by many lenders.
L&C mortgage specialist James Cotton said: "All too often, people assume that because they’ve had some credit problems in the past, they will have to pay a much higher interest rate and in some cases, high broker fees."
He advised that as "some lenders are more lenient that others", consumers should take the time to look for the most competitive product as they can often find a secured or home loan at a better rate than they thought possible".
Earlier this month, Ariane Buteux wrote on the Money Pages, that improving their credit rating can help consumers gain better access to cheap personal Loans.
Interfinancial providing you with breaking bad credit loan news.
