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What Remortgage Information Do I Need to Know?

Remortgaging is something that most homeowners will consider at some point. Whether you’ve come to the end of your current mortgage term or you’re hoping to secure a better deal, learn more about your remortgage options in our expert guides.

Posted On: September 29, 2021
Updated On: January 16, 2023

Can You Remortgage With Bad Credit?

Acquiring a mortgage with bad credit can be difficult. When it comes to remortgaging, it’s no different. We’re taking a look at the steps you can take that can help you to remortgage with bad credit.

It’s more than possible to remortgage even if you have bad credit. The catch is that you might not be able to access the favourable deals you’re hoping for.

However, there are always things you can do to improve your credit score.

Sure, there are some blemishes that are more weighted than others. If you have a county court judgement (CCJ) for instance, it will stay on record for six years and can hinder your mortgage options. In this case, you will need to seek a specialist mortgage broker who has access to a wider range of lenders, including those who cater for bad credit scores as a result of a CCJ.

However, there are other factors that are less weighted and can more easily be addressed with some careful planning.

Top tips for remortgaging with bad credit:

  • Pay off outstanding debts – This isn’t always possible, but if you have any outstanding debt, particularly if it’s a CCJ, it’s recommended that you pay this off in full before trying to get a remortgage.
  • Pay bills on time and try to cut down regular expenses – Remember lenders and credit reports favour those who can prove they’re responsible with money.
  • Speak to a financial or mortgage advisor – We get it, even if you’re really careful with money it’s still possible to accrue debt or a bad credit score. A specialist mortgage advisor can give you clarity and offer a compassionate service to help you get back on track and get you a remortgage deal that works for you.

Speak to Agentis today

If you’re looking to remortgage with bad credit, get in touch with Agentis today. We are a dedicated team of remortgage experts who have specialist expertise with helping people with bad credit get back on track to secure a better mortgage for their circumstances. Speak to our expert mortgage brokers located in Peterborough today to arrange your free initial consultation.

*You may have to pay an early repayment charge to your existing lender if you remortgage.