For bad credit self-employed mortgages, the deposit required might be higher than usual. While standard mortgages often need a deposit as low 5% to 20%. This is usually based on the type of property you are looking to purchase for example is it a new build or an apartment. However, for those with bad credit, lenders are likely to ask for more. Saving for a larger deposit will improve your chances of securing a mortgage with more favourable terms despite having bad credit.
Our specialist mortgage advisers understand the specific deposit requirements of lenders and shop around to get the best deal for you.
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