Poor Credit Remortgages

It is an unfortunate fact that a poor credit rating history can potentially harm your chances of finding a competitively priced remortgage deal. However regardless of the reason for your poor credit rating, you may still be able to take out an affordable poor credit remortgage in the right circumstances.

 

For the best possible chance of finding a competitive offer on a poor credit remortgage, customers are advised to research and compare mortgage deals as much as possible.

 

In most cases, customers should be prepared to pay more for a remortgage with bad credit, as lenders will consider them to be ‘higher risk’ compared with other borrowers with a clean record. One of the best ways to improve this record is to successfully remortgage the property without missing any payments.

 

You may wish to use our mortgage comparison tables below for a range of offers from providers:

Current Mortgage Deals
Initial RateProviderPeriod ToTypeAPR*LTV 
1.90% ING DirectJan 2020Discounted Variable 3.40% 70% More >
1.98% Skipton BSNov 2019Variable 4.70% 60% More >
1.99% first directNov 2019Variable 3.60% 65% More >
1.99% Royal Bank of ScotlandDec 2019Variable 3.80% 50% More >
1.99% The Mortgage WorksJan 2020Variable 4.60% 70% More >
*APR - Overall Cost for Comparison
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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Latest Mortgage Deals Selection
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*LTV = Loan to value (how much mortgage you have or require in relation to the value of your property).

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

The above mortgage products are a selection of top deals available directly through lenders who will be able to provide further information about the product you are interested in. If you are unsure about what mortgage product is suitable for you, we suggest you contact our independent mortgage broker team at - independent mortgage broker or call on 0117 332 6063

There are also a number of measures that may be taken prior to agreeing to the terms and conditions of any remortgage deal. Of course, comparing remortgage deals is one useful step, but it also important to understand the variety of different interest rate deals that exist.

 

Here is a brief explanation of some of the offers that may be available:

  • Fixed rate mortgages provide customers with guaranteed rates for a set term, although they can be slightly higher than many other more unpredictable interest rate deals
  • Tracker mortgages have their rates adjusted according to the Bank of England’s base rate, and cannot be influenced by the lender once the deal has started

 

You may also wish to consider using a mortgage calculator, to assist you in measuring the long-term of costs of a remortgage. Although it should be remembered that these are generally only used to provide a rough estimate.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

The above mortgage products highlighted on this website are available directly through lenders who will be able to provide further information about the product you are interested in. If you are unsure about what mortgage product is suitable for you, we suggest you speak to an independent mortgage broker