Bad Credit Remortgages?

Bad credit remortgages are specially designed to meet the needs of remortgage applicants who have suffered glitches in their credit histories.

Typically a higher rate of mortgage interest is applied to the total mortgage loan, along with more modest broker fees and mortgage arrangement fees. This is due to the fact that the lender is exposed to too much higher risk than a person with a clean credit record.

People normally incur a bad credit history through the non-payment of debts, starting with missed repayments through to registered defaults and CCJ's (County Court Judgments). If the CCJ's are not repaid by the debtor, quite commonly the threat of repossession or bankruptcy will be applied. This of course leads to a far worse situation and debt management would of been an ideal option in the early stages.

There are many lenders who offer bad credit remortgages so don't loose hope. These bad credit remortgage lenders have their own lending styles, with a wide array of bad credit Remortgage solutions. The good news is that a complete range of fixed rates, capped rates, discount rates, tracker rates and flexible rates bad credit remortgages are present in today's remortgage market.

If you suffer from a bad credit rating or your circumstances are out of the ordinary ie., self-employed, never had your own bank account, or lived at lots of different addresses, you will need to seek specialist advise. Your credit score is exactly that; a simple score of the risk associated with lending you money, if you get a poor score you will fall into the bad credit section. Equally if you have experienced bankruptcy or suffered from mortgage arrears in the past you will almost certainly be classed as having a bad credit history. County Court Judgment (CCJ).

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