Having bad credit does not mean you cannot get a mortgage. It could vary depending on your credit rating – as there can be a fine line between ‘fair’ and ‘bad’ credit scores. Some lenders offer mortgages designed for people with bad credit. But these can include higher interest rates and fees.
A variable rate mortgage has an interest rate that can change over time, based on an underlying banking interest rate.
How long does an agreement in principle last?
An Agreement in Principle typically lasts for 30-90 days. However, this time frame is up to the Lender. If your Agreement in Principle expires, fear not; you can renew it by getting back in touch with your Mortgage Advisor.