Non Conforming Loans - Bad Credit History?
If you have experienced financial problems
in the past, this is the loan to help you re-build your bad
credit rating and obtain a mortgage. Non-conforming lenders
are very flexible - even if you have been bankrupt or just have
a bad credit history, this type of product will make it easier
for you to secure your wanted mortgage.
Advantages:
- You will get a fresh start and the chance
to re-build your credit rating.
- Non judgemental lending rules with flexibility.
Disadvantages:
- You'll pay higher interest rates and fees.
- You will require a larger deposit than normal.
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