Specialist
mortgages help borrowers to repair a damaged
credit file, according to research conducted by an expert.
Sub-prime and
near-prime mortgages will help people with
credit problems to
find a mortgage, the study from Alliance &Leicester shows.
According to the survey, 79 per cent of
mortgage lenders state that clients are unaware that poor
credit history can lead to problems attempted to find a mortgage.
However, 86 per cent of
mortgage lenders advise that
specialist mortgages will help the
buyer to get on the
property ladder.
Mehrdad Yousefi, head of intermediary mortgages at Alliance &Leicester, comments: "It is encouraging to see that
brokers say their clients know the value of these
type of mortgages and that it is a good way of getting potential
buyers on the housing ladder while enabling them to repair their
credit history by maintaining regular payments on their
financial commitments.
"Our research indicates that this market will grow and grow in the future."
Mortgage prices continue to rise in the
UK, with the average house price recently reaching just under £200,000.
