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Lenders charge those who have a bad credit history mortgage because of the perceived additional risk they are taking. This may not be as evident when you look at recent changes in the interest rates, with the rates on most bad credit history mortgage deals rising by less than the rises in the Bank of England base rate. However, lenders have made up for this in other ways. In particular, borrowing a bad credit history mortgage may cost you in fees, with some lenders charging fees for these mortgages of well over £1,000. Meanwhile fee free deals are on the way out.

Read more about the costs of a Bad Credit History Mortgage