Who Needs An Adverse Credit Remortgage?

Other people who might want a remortgage and adverse credit mortgage are those who have had problems with credit in the past. A poor credit history can result from a number of circumstances. Illness may make it difficult for you to meet payments on time. Divorce may halve your household income but still leave loans and bills to be paid. Circumstances like these can result in someone acquiring a credit history that includes arrears, County Court Judgements (CCJs), individual voluntary arrangements (IVAs) with creditors and even bankruptcy.
Luckily, this should not stop you from getting a remortgage and adverse credit lenders are quite plentiful these days. They range from the specialist arms of well known banks and building societies to stand alone lending firms that specialise in this area. Getting a remortgage and adverse credit loan does not mean saying goodbye to the perks that standard remortgage customers get. Indeed, you can apply for a remortgage and adverse credit mortgage lenders may still offer free valuations and legal services or cash back deals.
When you get a remortgage and adverse credit lenders offer a deal, expect to pay a bit more than for a standard mortgage. This could be anywhere from one to five per cent more, though many lenders also offer initial discounts on adverse credit loans. Watch out, though; at the end of the discount period you could find your payments increasing by as much as 50 per cent, which could be a big shock to both the system and the pocket.
One way to approach getting a remortgage and adverse credit loan is to check with a professional mortgage broker. The broker will have access to a range of deals and can identify the ones that best match your financial circumstances. Then you can get the best remortgage and adverse credit deal.