Frequently Asked
Our handy mortgage calculator calculates what your monthly mortgage repayment might be by taking the amount you want to borrow and the total interest you might pay and dividing it by the number of months you’ll repay it in.
These results are computer-generated and show a fixed rate. You can change the interest rate to check different types of mortgages.
Frequently Asked
Yes, bad credit won’t necessarily hold you back from getting a mortgage. The implications bad credit might have on your mortgage application depend on the type of credit issue on your report, the severity, when it occurred, and how much money was involved. The Mortgage Hut are specialists in bad credit mortgages and can help you find a lender who will accept your credit situation.
Frequently Asked
If you’re looking to get a mortgage with bad credit, there is a chance you might be asked for a slightly larger deposit of at least 20% to 25% (sometimes even up to 30% or 40%) of the value of the property, as opposed to the usual 5% to 10%.
Frequently Asked
How much you can borrow on a mortgage with bad credit will depend on the severity of your credit issue, when it happened, and how much debt was involved. For more severe and recent credit issues, you could be asked for a higher deposit and offered less to borrow. For smaller debts from several years ago, you will likely be offered more and at better rates, too.
Frequently Asked
Yes, you might be offered higher interest rates on your mortgage if you have bad credit. You might also need to put down a bigger mortgage. But getting a mortgage with higher interest rates is still worth it because you can fix your credit score and potentially find a better rate when you remortgage.