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Can I Remortgage With Bad Credit? Yes, Say The Bad Credit Experts | Simply Adverse
If your existing mortgage deal is coming to an end, or you want to free up some extra cash, then you might be thinking about remortgaging your home. If you’re applying for a remortgage with bad credit though, it’s not always plain sailing. Having an existing mortgage on your home doesn’t guarantee that you’re going to find it easy to get a remortgage.
You may now be asking yourself the question ‘can I remortgage my house with bad credit?’, particularly if your financial circumstances have changed. While the path to arranging a remortgage may not be as simple, there are lenders out there who will allow you to remortgage a house with bad credit.
So, if you’re wondering how to get a remortgage with bad credit, then our specialist Simply Adverse mortgage brokers are on hand to help.
Why Choose Simply Adverse For A Bad Credit Remortgage?
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Simply Adverse has been trading as a specialist poor credit mortgage broker in the UK for since 2009. Our brokerage services are tailored towards UK residents who have struggled with financial problems and found themselves trying to find a mortgage or remortgage a house with bad credit. |
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The solutions that we provide are tailored towards your unique needs, which means that if you have an adverse credit rating and are searching for a remortgage, we’re the right service for you. Our Cemap qualified expert advisers, experienced pre-underwriters, and dedicated case managers make finding you the best bad credit remortgage rates much easier. |
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What Is A Bad Credit History?
Your credit history shows a record of how well you’ve managed debt repayment in the past, as well as other factors that contribute to a credit score, like whether you’re on the electoral roll. A bad credit history is one where the repayment of debt has been handled irresponsibly, which is normally judged via a score – the higher the score, the better your credit history.
There are a number of reasons why you may have a bad credit history, such as payment defaults, missed payments, IVAs, CCJs, or bankruptcy. No matter the reason why you may have a bad credit history, we can provide bad credit remortgage advice based on our years of experience.
How Do I Know If I Have A Poor Credit Score?
The best way to discover how good or bad your credit score is, is to check for yourself. Here’s how to check your credit score, improve it, and judge your eligibility with bad credit remortgage lenders:
- How to Get Your Credit Report
It’s very straightforward to find out if you have a bad credit score, and you have many options for which reference agency to choose from. Equifax, Experian and TransUnion are all credit check services that you can sign up to and check your credit score. Or you can check for free using our partners CheckMyFile. (*30-day free trial, £14.99 a month thereafter, cancel any time) - Checking Your Credit Report
Once you have a copy of your report you can set about checking it. Use the Simply Adverse guide to understanding your credit report to help you navigate what everything means. - If You Have Bad Credit Don’t Make Multiple Searches, Talk to the Experts
If your credit report shows that you have poor credit, then the next step should be to talk to the experts about how to improve your credit score and how to remortgage house with bad credit. It can be detrimental to make multiple searches instead of seeking advice from the professionals! - Corrections You Can Make to Your Credit File
If you don’t agree with the information on your credit report then you can apply to add a notice of correction to your credit file. This will clear up any incorrect information that may be harming your chances of getting a remortgage. You can also take proactive steps to improving your credit rating, like making regular payments and building your credit history. - Take Our Remortgage with Bad Credit Quiz
If you’re concerned about your eligibility for a bad credit remortgage UK wide, then you can take our remortgage with bad credit quiz which assesses your suitability for a mortgage with your existing credit history. The quiz is a very quick and easy way to get an insight into your eligibility for a remortgage.
Want to discuss your credit score with an expert? Call us today for impartial advice on finding a remortgage with bad credit.
Can I Remortgage With Bad Credit History?
The simple answer to ‘can I remortgage my house with bad credit?’, is yes, but if you have more than a minor problem with your credit score then it is unlikely that you will get a remortgage on the high street. You are much more likely to find a remortgage for people with bad credit by using a specialist broker.
How easy it is to find a remortgage with bad credit will depend on factors such as why your credit history is adverse. What credit history is acceptable for a remortgage will depend on the specific lender, as lenders consider remortgages on a case-by-case basis. You may find that one lender will accept you with a CCJ, whilst others may reject your application due to missed payments.
Your affordability test, which considers income vs expenses, along with your equity amount, will also be factored into the equation of whether you can remortgage house with bad credit. The ratio of your debt to income should be lower than 45% for the best chances of being accepted.
To gain access to specialist bad credit lenders that are likely to accept you for a remortgage with bad credit, you need the help of a bad credit expert mortgage broker, who can arrange a mortgage on your behalf. Simply Adverse has access to the whole market of lenders, so we can source the best remortgage bad credit rates for you.
Remortgage With Bad Credit FAQs
Remortgaging with bad credit can be a very different experience from person to person. Here the are answers to some of the most frequently asked questions about getting a remortgage with bad credit:
- Can I Get a Remortgage with Bad Credit and Arrears?
Mortgage arrears aren’t normally looked upon favourably by lenders, especially in conjunction with a bad credit rating. However, it may still be possible to get a remortgage, particularly in cases where the missed payments are old. - Is it Better to Improve My Credit Rating Before Remortgaging?
The better your credit rating, the more lenders are likely to accept you. You can take our eligibility quiz to see how your current credit rating may be affecting your ability to get a remortgage. - Can You Get a Remortgage After Bankruptcy or with a CCJ or IVA?
Bankruptcy, CCJs, and IVAs can all limit your ability to get a remortgage, but with the help of our expert advisers, it can still be possible in many cases to get a remortgage.
If you would like to know more about getting a remortgage with bad credit, then please contact us today.
Call 01245 330163 For A Free Quote
Lines Open: Mon-Fri 9am-10pm and Sat/Sun 9am-5pm. Alternatively request a call back at a time convenient to you.
It’s quick & easy. No credit check.
How Simply Adverse Can Help
At Simply Adverse, we make it our aim to go above and beyond to arrange a remortgage for you. If you’re worried about the question ‘can I remortgage with bad credit history?’, then take a look at what we can do for you:
We Do the Hard Work
When you choose Simply Adverse to help you find a mortgage, we take care of the difficult parts for you. We’ll provide a full assessment of your circumstances, advise you on your eligibility for a remortgage, find highly competitive rates, and simplify the whole remortgage process. Our service is unrivalled when it comes to customer service and results – just take a look at our glowing Trust Pilot reviews!
Not Tied to a Panel of Lenders
Bad credit remortgage UK lenders can be hard to come by on the high street, which is why our specialist adverse credit remortgage service is a great benefit to UK homeowners. We cover all bad credit remortgage lenders, high street and niche lenders, to bring you the best rates from across the board. Not being tied to a panel of lenders also means that we can deliver exclusive rates that aren’t available on the high street.
You Only Pay When a Formal Offer is in Place
There are absolutely no up-front fees when you choose Simply Adverse, we offer everything from the first situation assessment to the detailing of potential mortgages without fees. We only get paid when we’ve arranged for a formal mortgage offer to be given and when the bank has committed to lending. You’re also not tied into the process, you can choose to walk away whenever you want.
Take Our Bad Credit Remortgage UK Eligibility Quiz
To ease your doubts over the stressful question of ‘how to get a remortgage with bad credit?’, our online bad credit remortgage quiz is always available to help to you get an idea of your eligibility for a mortgage.
Interested in learning more about the comprehensive service that we provide at Simply Adverse? You can call our friendly team of mortgage experts for advice about questions like ‘how can I remortgage with bad credit?’, completely free of charge.
What Bad Credit Remortgage Lenders Do Simply Adverse Work With?
For the best bad credit remortgage rates, we search far and wide to locate the best lenders and niche lenders who can offer a remortgage with bad credit score. Here are some of the main bad credit remortgage lenders that we work with:
Find A Bad Credit Remortgage UK With Simply Adverse
If you’re worried about questions like ‘how can I remortgage with bad credit?’, then we’re the experts to call. Our professional bad credit brokerage service will help you to find the best bad credit remortgage deals in as quick of a time as possible.
Don’t worry a second longer about bad credit remortgages, give Simply Adverse a call today and learn more about your ability to get a remortgage from friendly lenders in the UK.
Bad Credit Remortgage Interest Rates
Simply Adverse has put together a selection of some representative examples of the bad credit mortgage rates for comparison. These examples come from a number of different types of lenders including high street lenders and specialist lenders.
The exact bad credit remortgage product that will be most suitable for you will depend on factors such as the level of adverse credit you have and the amount of equity you have in your property. You can discover more about lender types and whether the deals are suitable for your level of adverse credit under each product.