Bad credit remortgaging is not suitable for everyone. Before you agree to a deal, make sure you understand whether any of the following points affect you:
Will you have to pay any early repayment fees on your existing mortgage? If so how much are they – it might be cheaper not to remortgage
Most bad credit remortgaging requires you to have at least a 5% deposit or 5% equity in your home. There are some 100% deals, but these usually have higher interest rates.
Consolidating your debts and paying them back over a longer period may mean that you pay more interest in total than you would have done originally, even though your monthly payments are lower.
Don’t apply direct to high street mortgage lenders who will be likely to reject you – this will show up on your credit history and make it more difficult for you to get a remortgage. The best approach is to talk to an independent mortgage broker who specialises in bad credit remortgages and let them find you a suitable lender who won’t reject your application.
You may see lenders talk about “sub-prime” or “adverse credit” remortgaging – these are the same as bad credit remortgaging.
Read More About Bad Credit Ratings
- What Is A Bad Credit Remortgage?
- Why Choose A Bad Credit Remortgage?
- How To Get A Bad Credit Remortgage
- Things To Consider about Bad Credit Remortgaging
- Bad Credit Remortgages: Questions and Answers
- About Bad Credit Ratings
- Credit Reports and Credit Files
- What is Credit Scoring and Credit Rating
- What is a Credit Search
- Here’s The Good News
- Finding Lenders for Adverse Credit Cases
- Adverse Credit Record Agencies
- Causes For a Bad Credit Rating
- County Court Judgement Mortgages / CCJs
- How Are You Credit Rated?
- How To Check Your Credit Rating
- Bad Credit Remortgages
- Want To Talk To A Specialist Bad Credit Mortgage Adviser?
- Mortgages For People With A Bad Credit History