Adverse credit mortgages

Lenders will check your credit scoring before approving a mortgage, and if you score low may turn you down. However, most lenders have a specialist section that can work with you if you have a damaged credit record. This sector is also known as non-conforming or credit-averse, and can help people who have been bankrupt or issued with CCJs. A full range of mortgages could still be available to you.

Pros:

• Can help if you have a history of poor credit - a mortgage can help to rehabilitate your credit rating

Cons:

• Beware higher charges and strict conditions - such as long tie-in periods or high penalty clauses
• Interest rates are likely to be slightly higher than for other mortgages - shop around