If you are self-employed, and even have a pristine credit history, you may find it just as difficult to get a mortgage due to your circumstances, which is unfair.

However, there are more and more specialist mortgage companies that are sympathetic and able to offer bad credit mortgages to people - as well as mortgages for the self employed.

Many of these companies do not charge excessively high interest rates as they have done in the past, meaning that you should be able to get a mortgage and pay a fairly realistic interest rate.

Apart from the obvious benefit of taking out a mortgage for whatever purpose you need it for, having a mortgage can actually improve your credit scoring - making it easier for you to borrow money and get credit in the future! However, you will need to make your monthly repayments on time, and this will help improve your credit score over time.

Of course, when choosing a bad credit mortgage, do shop around. While there are understanding lenders out there willing to provide a mortgage without charging you the Earth, there are still, sadly, some unscrupulous mortgage companies.

Do your homework - get several quotes; check out the interest rate and any financial penalties you would be liable for should you pay the mortgage off early. And make sure you are fully happy with the amount you are repaying.

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How the web can help you if you are looking for a bad credit mortgage

If you have a poor credit history, finding a mortgage specifically for people with bad credit can be difficult. And even if you do find a mortgage, how do you know that it is the right one for you?

Using the internet can help. There is tons of information on there relating to bad credit mortgages such as free guides, as well as access to providers of bad credit mortgages.

Going online also allows you to compare multiple providers so that you can look at all the product features and benefits to decide whether it is right for you.

There are also websites that accept online mortgage applications and there are hundreds that offer free and immediate online quotes. This means that you can see how much you can really afford to pay out for a mortgage.