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pettybob1 · Joined: 07 Sep 2009 Posts: 37 0.24 Dollars($)

Why are adverse credit mortgages more expensive?

adrianlee1971 · Joined: 13 Sep 2009 Posts: 53 -0.17 Dollars($)

The interest rate on a mortgage partly reflects the lender's assessment of how much risk there is that the borrower may fall behind with their payments. Statistically, people who have had credit history problems in the past are more likely to have problems in the future.

This means that there is a greater risk to the lender and therefore they charge a higher interest rate

catharin9 · Joined: 14 Jul 2009 Posts: 168 -0.14 Dollars($)

In adverse credit mortgage there is a greater risk to lender so they charge a higher interest rate. If you have had serious credit problems in the past you will be charged a higher rate of interest than someone who has had more modest difficulties, such as a missed payment or two.

annyb27 · Joined: 07 Jul 2009 Posts: 144 -1.08 Dollars($)

From your past credit history lenders charges you more higher interest rates It will causes more expensive mortgage.

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