Yes — and in some cases, it might even save you money.
If your credit score has taken a hit since you took out your current mortgage, you might be worried about whether remortgaging is even possible. The truth? You still have options — especially with the right advice and timing.
Here’s what you need to know about remortgaging with bad credit.
🏠 Why Remortgage with Bad Credit?
You might want to remortgage to:
- Avoid falling onto your lender’s expensive Standard Variable Rate (SVR)
- Lock in a better deal
- Borrow more money (for home improvements, debt consolidation, etc.)
- Change your mortgage term or type
Even with bad credit, some of these may still be achievable.
💳 What Counts as Bad Credit When Remortgaging?
- Missed mortgage or credit card payments
- Defaults or CCJs
- Payday loan use
- Debt Management Plans (DMPs)
- Low credit scores due to high debt or lack of credit history
💡 Lenders will usually re-assess your affordability and credit status when remortgaging — even if you’re staying with the same provider.
🧠 Tips to Boost Your Remortgage Chances
✅ Check your credit report and correct any errors
✅ Make all repayments on time leading up to your application
✅ Reduce your debts if possible
✅ Avoid applying for any new credit
✅ Use a broker who can access specialist remortgage lenders
💷 Can I Borrow More with Bad Credit?
Yes — but expect stricter affordability checks. If you’re looking to consolidate debt, lenders will want reassurance you can handle repayments.
💬 Bad Credit Doesn’t Mean You Can’t Switch
Letting your deal lapse because of bad credit could cost you thousands. I’ll help you find out if switching is possible — and guide you toward lenders who understand your situation.
✅ Remortgage options for poor credit
✅ Honest advice and affordability review
✅ Support with switching or staying put