Bad credit mortgage is a big problem in this country. Many people find it difficult with the payments for personal loans, credit cards and household bills. This results in the issuing of CCJs (County court Judgement) against their name or shows arrears in their credit file. Some home owners may have suffered form more serious credit problems where they have fallen behind mortgage payments and even had their home repossessed. This would put them in the bad credit mortgage category when they come to take out a new mortgage.
Despite bad credit problems you can still find a lender out there who is willing to give you a mortgage. These lenders are known as credit repair, sub prime and nonconforming lenders. These lenders tend to look at you present circumstances rather than your past credit history. As a rule of thumb the worse your credit history, the higher the interest you pay.