If you have poor credit, it can make you a higher risk to lenders. Due to this, they may increase the interest rates to lower some of the risks of lending to you. From this perspective it could be more expensive, as you would be charged a higher amount of interest. We will always make sure the product is affordable for you. It is important you make sure you are happy with the repayments too, as if you default on the loan your property could be at risk of repossession.