What does the Overall cost for comparison mean?


Part of our compliance requirements is to provide an overall cost for comparison when discussing bad credit mortgages. 

Generally speaking this has to give potential customers an idea of what rate they will get. As a new business it is difficult for us to provide an average rate of what our customers get, so what we have done is on launch day (last week) we took every rate on every product we have on our site and averaged them out. That is the rate we have got, so whilst we do (at the time of writing) have rates of around 3%, we do also have rates of over 7%. 

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