Jun 24
Unlike in the past, there are now a number of mortgages for bad credit borrowers. People can get a bad credit score for a number of reasons and it counts against them when they apply for any kind of credit, including remortgages.
Most commonly, people have a bad credit rating because of County Court Judgments (CCJs), mortgage or remortgage arrears, credit card arrears, defaults on loan or high purchase payments, or an IVA or bankruptcy.
While it will still be difficult to get a mortgage or remortgage if you have a bad credit rating, there are options out there. The first thing you should do if you plan to apply for a remortgage or a mortgage is to investigate your own credit rating.