Bad Credit Remortgage Advice

When a mortgage borrower has a credit history that has adverse data against it such as defaults or county court judgements this is often referred to as bad credit. Bad credit can happen for a number of reasons it can be from a genuine mistake perhaps you forgot to pay a credit card payment one month and didn’t realise or it can arise from a real financial crisis which caused you to miss mortgage payments.

 

When you have a bad credit rating you should be under no illusion… You will still be able to get credit, however, you will probably have to speak with an expert who helps people with an adverse credit rating, similar rules apply however, you may find you pay a slightly higher interest rate and this something small like 0.25% above normal rates or for the more server adverse situations such as currently bankrupt wishing to annul the order perhaps 3-4% above high street rates.

 

There are literally hundreds of mortgage lenders in the

 

You should also be aware that just like high street banks and building societies non-conforming mortgage lender has a whole host of products for you to choose from fixed rates, variable, discount and even cash back offers. Your bad credit mortgage broker will step you through all of this and give you a Key Facts Illustration (KFI) to help you make up your mind.

 

So regardless of CCJ’s, mortgage arrears, previous bad debts and even insolvency issues its likely a specialist remortgage broker will find you the right deal and rate.