Experts In Re-Mortgages For People With Bad Credit
With our experience and knowledge, you have the best chance of getting the re-mortgage you need , even if you have been turned down elsewhere.
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Re-Mortgage With Bad Credit
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We are experienced bad credit mortgage brokers with a wealth of knowledge in adverse lending, we have direct access to all sub prime and adverse lenders and speak with their underwriters regularly to get your mortgage accepted even if you have been turned down elsewhere.
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Bad Credit Remortgage
County Court Judgements (CCJs)
Debt Management Plan (DMP)
Too many hard searches
Excessive borrowing/large amount of debt
An Individual Voluntary Arrangement (IVA)
Debt Relief Order (DRO)
If you answer yes to any of the above you may think that it is not possible to be accepted on a remortgage application.
But with A Little Mortgage Advice we can help find you a remortgage to fit your circumstances.
How We Can Help
As a specialist independent mortgage advisor we work with lenders who specialise in bad credit remortgages.
There are a wide range of specialist lenders with specific eligibility criteria who may suit your circumstances.
Our team at A Little Mortgage Advice will discuss your situation and advise you on the best solution for you to proceed with a remortgage on your property.
Why Choose A Little Mortgage Advice?
We are specialist independent advisors. This means that we work with all lenders and search the whole market to find you the correct mortgage product.
As a small independent company you will be speaking directly to a mortgage advisor. We dedicate the same time to every client.
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Remortgage With Bad Credit: How to Get Approved
Remortgaging with bad credit can be difficult, but our expert mortgage advisors can help you find a solution. Talk to a one of our friendly mortgage brokers to understand your options and find the best remortgage for your situation.
What is Remortgaging
- Refinancing your existing mortgage loan with a new one
- Switching to a more competitive rate
- Reducing the loan term for quicker repayment
Benefits of Remortgaging with Bad Credit
- Get access to better mortgage terms
- Improve your credit score
- Consolidate debts and reduce interest rates
How to get started
- Check your credit score to understand eligibility criteria
- Compare available remortgage deals
- Get advice from an experienced mortgage advisor
- Remortgaging can help you reduce costs and improve your credit score
- Be sure to research all available options
- Seek advice from a qualified financial advisor before making a decision
If you have bad credit and are looking to remortgage your property, it is important to understand all of your options. It is also important to seek advice from a qualified mortgage advisor to ensure that you are making the best decision for your financial situation. Remortgaging can help you reduce costs and improve your credit score, but it is important to understand the risks and benefits associated with the process. With the right advice and guidance, we can find you the best solution for your needs.
When considering remortgaging, it is important to understand the different types of mortgages available.
Fixed rate mortgages are a popular option during current uncertain financial times, lots of people are looking for certainty that they will be able to afford the monthly mortgage repayments. Fixed rate mortgages provide a set interest rate for a set period of time. The downside to a fixed term mortgage is that you will not benefit from any interest rate decreases, if you decide to move during the fixed period you will have an early repayment penalty, these are things to consider when deciding what period of a fixed mortgage you are looking for, 2,3,5 or even 10 year fixed rate mortgages are available.
Variable mortgages fluctuate with the Bank of England Base Rate, your monthly mortgage payment can go up or down, these mortgages are useful if you are considering moving or repaying your mortgage within a short period of time, or, you believe that the Bank of England interest rate will decrease but you are happy that you can afford your mortgage if the interest rate increased.
Additionally, you may want to consider consolidating your debt into your mortgage, which can help you reduce your monthly outgoings and make them more affordable. Ultimately, it is important to research all of your options and speak to a qualified financial advisor to ensure that you are making the best decision for your financial situation.
What is a remortgage?
A remortgage is a process of refinancing your existing mortgage loan. It involves taking out a new loan to pay off the existing one, and can be used to consolidate debt, reduce monthly payments, or access equity in your home to raise money to pay for home improvements, gift your children a deposit for a home, pay for a wedding etc.
It is important to consider all of your options before deciding to remortgage, especially if you have bad credit. Bad credit can make it difficult to get the best deal on a remortgage, but there are still options available.
Remortgaging with bad credit, and how to get the best deal.
When remortgaging with bad credit, it is important to consider your debt-to-income ratio. This is a measure of how much debt you have compared to your income, and lenders use this to determine your ability to repay the loan. Your mortgage broker will assess your credit report to make sure that your debt-to-income ratio is within a reasonable range before applying for a remortgage, there are lenders who will accept a high debt to income ratio, especially if you are consolidating this into your remortgage, or, repaying some of the debt before the new mortgage completes.
Finally, it is important to understand your credit score. Your credit score is a measure of your creditworthiness, and lenders use this to determine the interest rate they will offer you.
Experienced mortgage brokers will be able to determine if it is possible to remortgage, if your score is particularly low there may be different reasons for this, for example, if you have recently taken out a loan, car finance or new credit cards this can lower your score, if you have a lot of debt, if you have ccj’s, defaults, missed payments etc, none of these in isolation will stop you getting a mortgage or remortgage, it is still possible to get a mortgage with all of these but it will be harder, you need a mortgage advisor who knows what lenders are more likely to accept your mortgage application.
It is important to use a multi agency credit report because they show what the big main three agencies, Equifax, Experian and Transunion have recorded about you, so that your mortgage broker can help you get the best deal.
Remember that remortgaging with bad credit is not impossible, but it is important to be aware of the risks involved. It is important to use a qualified mortgage broker that specialises in bad credit mortgages, they will compare different lenders to find you the best deal, and to make sure that you are able to make the monthly payments on the loan.