Mortgages that are not conforming mortgages and that are typically made to a person with less than perfect credit, income, or property.

Mortgage granted to a person who is unable to borrow money secured on a property from a normal lending source. The reasons the applicant may not be granted a mortgage by a traditional lender, could fall into one of three categories:- Adverse Credit information registered against them; Existing arrears on current mortgage facilities; An inability to satisfactorily prove the level of income required by a traditional lender.

A mortgage loan that is granted to a borrower who is considered sub-prime (has a less-than-perfect credit report). Sub-prime borrowers have either missed payments on a debt or have made late payments. Lenders charge a higher interest rate to compensate for potential losses from customers who may default on the loan. Click here for additional information.