As long as you have a good mortgage repayment history then it could be possible to remortgage with bad credit. The longer ago your credit issues were the better but some lenders ignore minor blips such as disputes with mobile phone providers.
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As with any remortgage, the interest rate payable will depend on your credit score and also how much equity you have in your home. You can also look to capital raise when you look at remortgaging. Get in touch for mortgage advice and we'll look at what options are available for you with a remortgage.
Apply NowCan you remortgage if you have bad credit?
Though it operates on a case-by-case basis, yes it should still be possible for you to remortgage with bad credit. However, if you have had financial difficulty after taking out your original mortgage, it may be beneficial to stay with your current lender. A mortgage broker will be able to help you run through the best options.
What should I do if I can’t remortgage?
You may find that you have exhausted your remortgage options and have found yourself unable to remortgage at this current time. Whilst you cannot get a remortgage now, there may be some steps you can take to improve your credit rating, and open up your remortgage options in the future.
Do you get credit checked when remortgaging?
Yes, any new lender will want to assess your application using your current credit rating. Some lenders run “soft” credit searches at Agreement in Principle stage and these do not negatively impact your score.
How can I take equity out of my home if I have bad credit?
You can ask your current lender for a further advance and if that is not possible then you can remortgage to a different lender. If that in turn is not possible then a final option could be to leave your current mortgage in place and take out a second charge mortgage (secured loan) with another provider, however higher interest rates apply to these products.
How long does bad credit last?
Defaults and CCJ’s stay on your credit file for 6 years but if you feel these have been registered incorrectly then you should approach the provider to see if they can remove them from your credit file. If the adverse credit was registered against you very recently then taking out a new mortgage will be very difficult.
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There is rarely a situation that we haven't come across before. We are specialists in the industry.
Any hurdles like property surveys and down valuations, we will make sure to help you overcome these.
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Mark
Megan and Wayne have been great throughout. Both really easy to work with and on top of things at every step of the process. Thanks a lot.
Anonymous
Excellent service by Malcolm, Paula & Meghan. We completed our purchase last week in what was supposed to be a very difficult case due to my bad credit and limited trading history as a director of LTD company. UKmoneyman dug out a lender that...
Jasmine
Very good service received. Wayne is very knowledgeable and helpful especially with me been a first time buyer. Also very accommodating with timings and I was able to have chats later on a night to fit my schedule. Very supportive all the way...
Joseph
So far so good ! The first point of contact was lovely, made me feel at ease and very knowledgeable.
Callum
Absolutely fantastic service from the start, in helping getting a mortgage. Charlie always replied to my messages as quickly as possible and was very clear, thorough and calming through the whole process, cutting out a lot of worries had I not used...
Jonathan
Great help from the team, helped find exactly what we were after, and was an easy straight forward process. Being self employed it can be tricky however there were no problems with the help and advice we received.
Paul
Very helpful and efficient service. Wayne, the financial advisor who handled our case was thorough and professional, he gave us some very useful information and importantly sourced a good mortgage for our needs. Once we had a mortgage offer in...
Louise
From start to offer leo and jo have been great and done everything so quickly and I have not had to stress once been to other broker companies and this is the best by far will definitely use them again 😊
Hasan
excellent service
Anonymous
My initial interaction with Faye from UK money man has been really personable and I felt like she understood my needs very well. I’m hoping they can help deliver what I need and I didn’t feel any pressure to have to go further with my...
Rodrigo
UK Moneyman have been super helpful and reliable. Have always been able to count on them getting back to us quickly and made us feel comfortable checking anything out we were not really sure about. They made the whole process as easy and hassle free...
Steph
The team were fantastic, in finding the product for me. Jo also walked me through what to expect when purchasing your first home I.e. time frames, and answer my many questions. Also their after care has been great, checking in on how the purchase is...
Luke
Myself and partner used UK Moneyman for our first time buyer mortgage. We’ve had round the clock care well above the norm. Multiple routes forward regarding which mortgage to go for with lots of information to help prepare us through the...
David
I cannot thank the UK Moneyman service enough. Securing a mortgage meant more than just that to me, it was – is - a life chance. However, because of my credit history, I didn’t think that it could be done. Right from the start of the...
Nathaniell
Leo and Kayleigh have been great from the first phone call that I made to them. They have both helped us each step of the way and it has been a great comfort to my wife and me that everything had been taken care of by them both. We will definitely...
Mary
Ryan and Kayleigh were incredibly helpful and always available to answer our questions whenever we needed - and we had a lot of them as we are first time buyers who didn't have a clue about any of the process to begin with! They secured our...
Danielle
UK money man where so helpful. Chloe and Joe was amazing with us. Stayed in contact with us giving advice and updates, so glad we chose UK money man! Thanks for all your help.
Anonymous
Amazing, when ne and my partner first looked into buying a house, we had no idea about how to get a mortgage or anything. Moneymen were extremely helpful all the way through and sorted everything smoothly and efficiently! Very happy, will use again...
Rebecca
We’re so glad that we decided to use UKM to help us through the process of buying our first home, they took most of the stress off our shoulders and we’re always there to answer any queries. Would definitely recommend them to anyone...
Thorsten
I found Dinah at Harrogate Moneyman to be extremely supportive. She listened carefully to our needs, proposed solutions and followed up closely. A great service - I’d recommend Harrogate Moneyman to anyone looking for mortgage options.
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UK Moneyman Limited is Registered in England, No. 6789312
Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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UK Moneyman Limited is Registered in England, No. 6789312
Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
