The interest rate you’ll get on a mortgage will depend on your situation, and the kind of credit issues you have to cause a poor rating.
Interest rates are generally higher for people with poor credit ratings because they will be seen as more high risk by lenders. Although they could be higher, there isn’t a specific figure of interest rates for bad credit mortgages. This is because lenders will assess bad credit applicants on an individual basis.
The interest rate offered to you will depend on your situation.
These are factors that lenders will look at:
The type of credit issues you have
How recent your credit issues are
If you have any credit issues which are still outstanding
The size of your deposit
The amount you will need to borrow (loan-to-value LTV)