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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UK Moneyman's recent financial health check was incredibly thorough, well-communicated and professional and had a very positive outcome in terms of excellent income protection cover. They have also sourced two excellent mortgages for me on my...
I have used ukmoneyman's services for two mortgages and they have been absolutely amazing! My case had particular challanges, complexities and some technical misfortunes here and there. However Lyndsey and Leo have always kept me up to date,...
the staff are extremely supportive, friendly and helpful. I highly recommend them.
It was nice talking to moneyman this morning and I managed to book my first appointment on the same day, how amazing is that
We needed a specialised mortgage so using a broker was a no brainer. We didn't know what to expect but UK moneyman made the whole process smooth for us. Communication was amazing. Thankyou to Leo and Kerry.
Could not have been more helpful. Friendly and approachable and worked really hard to get us what we needed. Withdrawn highly recommend and will be using Moneyman in the future.
Brilliant service from the start and throughout!
This team really are fantastic, I carried out a RTB mortgage and they have executed perfectly, thanks again to the whole team. Very professional and fast acting.
Very smooth service
We contacted UK moneyman as our first mortgage advisor didn’t work out. After our first conversation things moved quickly, they were thorough with what information we needed to give them, which meant when it came to applying for the mortgage...
IT WAS LOVELY TALKING TO Helen today She was very professional and friendly and very helpful I am looking forward to her colleague Thomas calling me back at 3:30 as a range from conversation on telephone
Everyone at UK Moneyman was really helpful, polite and efficient throughout the process of getting our mortgage offer. As first-time buyers, the process seemed very overwhelming at the beginning but Charlie talked us through each step at the...
Dale was very good and very prompt thank your for your help dale
I spoke to Leaghne and she was very helpful and very patient and polite in all discussions we did. It was very easy to get through.
Really helpful and friendly team that got us the mortgage we wanted.
The service from Charlie and Chloe was outstanding! Charlie was by our side through all the start of the process and Chloe took over later on and helped with every issue we had to make sure everything ran smoothly. They both went above and beyond...
Warm Welcome. Understandi
Just spoke to Aaron very thorough good lad
Seemed a nice, friendly guy. Seemed to understand and actually interested in our application.
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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.
