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.
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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No vested interests, do you want your builder or estate agent knowing your maximum lending when you're trying to negotiate your price, you'll receive a mortgage tailored to your needs.
Meaning you're safe and protected by our process, providing peace of mind. We take all the responsibility for the advice.
We shop around for the cheapest deal for you, saving you time and money.
There isn't a situation we haven't come across before, we fully understand your needs.
We'll help you overcome hurdles that you face along the way, for example, removing the stress of property survey and valuation problems.
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Excellent service from Matt & Molly. Throughly recommend UK money man
All staff very helpful ..patient and knowledgeable. I was always spoken to professionally and courteously. Wayne gave me sound advice and helped me sort out issues in an area I am new too. Very grateful for help and support given.
Excellent professional service from start to finish. Staff are extremely friendly, professional and kept us informed every step of the way, making what can be an extremely stressful process quick, efficient and hassle free. This is the second time...
House-buying is a very stressful business but obtaining a later-life mortgage with UK Moneyman was a pleasure. The staff were extremely professional, knowledgeable, efficient and polite. They obtained a very good deal for us at the speed of light!...
Very Easy to talk to and Very Helpful.
From the start all the staff I have had the pleasure of dealing with were kind, knowledgeable and helpful, and accommodating to my variable shift patterns. Thank you Jason and Chloe for taking me through it all step by step.
Third time using Moneyman. The service has been excellent every time.
UK Moneyman have helped to co-ordinate both my initial mortgage as well as the remortgaging of my current property. The team members from initial deal scoping across the markey to seeing the process through to completion have all been extremly...
Excellent service provided, took out a new life insurance policy easy and stress free 5* service as always
Very polite, help and friendly, listened to what I had to say .
Really helpful and quick to get back
Couldn't have wished for better service. So helpful and supportive; Moneyman completely took the hassle out of everything. Thanks so much.
Being a first time buyer and not really knowing any process or what I need to do Mizna Coates was incredible at helping me sort my life insurance out. She was determined and diligent at trying to source a provider to give me critical illness...
Moneyman are brilliant. Don't know what I would have done without them. They have sorted my mortgage, life Insurance and home insurance. I had know idea were to start. Mizna is a total asset to the company. I feel like I have made a new...
Very helpful thank you
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Brilliant service from start to finish. Great communication and always go out their way to help. Mizna looked after us this time for our life insurance and critical illness cover. It wasn’t straight forward to get us cover but she did...
Happy with the fast communication and help from Aaron
First rate service mizna kept me informed every step of the way of where we were at and was clear of what I needed to do. Would recommend to friends and family.
UK Moneyman (Charlie and Chloe) were fantastic during the process of applying for a Mortgage. I sought their help for a mortgage that was outside of what the bank was currently offering and after a few negotiations, they delivered the product that I...
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UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited registered in England, registered number 6789312 and registered office 10 Consort Court, Hull, HU9 1PU.
UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited registered in England, registered number 6789312 and registered office 10 Consort Court, Hull, HU9 1PU.
