bad credit mortgages still availableLending restrictions may be tightening on some products, but market forces will ensure that there's always bad credit mortgages available to those who need them most, it has been advised.

Zen Financial Services has said that it's still highly unlikely that borrowers will be turned away altogether, though perhaps they will have to look around a little more in the current climate.

With that in mind, a mortgage broker could become even more invaluable in helping avoid or limit the higher fees that Zen sees as a feature of the market.

"It's rare that someone will be turned away completely but at the moment with the current happenings in America some lenders are tightening up on who they will lend to," Mike Pendergast, Zen Financial Services spokesperson commented.

"They'll always be a lender that will lend, if you're happy to pay the price," Mr Pendergast added.

While the effects of the credit crunch are still ongoing, the UK's innovative mortgage market will undoubtedly find a way to provide mortgages to all types of borrowers.

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