A poor credit rating, resulting from a history of credit problems including mortgage arrears and County Court Judgments, prevents access for some people to otherwise standard credit agreements from financial providers. bad credit loans are designed specifically for individuals with a bad credit rating.
In the case of home owners with equity in their property, these loans are secured against the home. Whilst interest rates and borrowing capacity varies amongst providers, bad credit loans are typically in the range of £5,000 to £75,000 and can be as high as 125% of the value of the property.
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