Poor Credit Remortgage Options
New lenders coming 1st June 2018 – Not on the comparison engines – Lower rates and better terms!
Have you been refused a remortgage or further advance from your existing lender?
Are you looking to mortgage out of an existing mortgage with a poor interest rate?
Looking for a bigger choice than the ones offered by the comparison websites?
Need to be rewarded for a better credit history/improved earnings?
Frequent Finance have lenders offering:
- Near prime, light adverse and heavy adverse remortgages
- Initial interest rates starting at 1.9%
- Variable, fixed and discounted rates
- Choice from a large panel of lenders from multiple sources
- Flexible approach to valuations and loan to value calculations
- Self Employed and Employed
- Raise money for home improvements or purchase of another property
Frequent Finance have new lenders as of 2018
One of the key ways to reduce the timescale of securing your remortgage is to apply to the right lender first time. Obviously if you have a poor credit history the high street banks and building societies
Will my credit cards, car finance, shopping catalogues and other commitments effect my application?
The short answer is probably, YES. Try to pay down any credit card balances if possible. Your better off waiting to change your car till after you have qualified for your remortgage as a monthly car finance payment will dent your affordability for your monthly mortgage payments. Most lenders have to be confident you can easily afford your payments even after things like holidays.
What if the lender wants to look at my bank statements?
Things they might not like:
- Payday loans
- Significant gambling activity
- Bounced standing orders
- Bounced direct debits
- Persistent use of overdraft facility
- Large deposits or payments that may require your explanation
- Above average amount of money spent on travel, hobbies and holidays
- Large ATM withdrawals
What they may like to see:
- Your salary each month coming from the same entity as your wage slips or accounts.
- Utility bills, council tax and other normal services
- Payments consistent with your previous disclosures for items like personal loans, student loans, hire purchase, car finance, secured loans, credit cards, charge cards and other credit commitments.
- Other commitments like insurances, pension contributions, property service charges and child care
- Income from stocks and bonds, again consistent with your previous declarations
Poor credit remortgage in the UK and Northern Ireland
Frenquent finance offer remortgage deals for bad credit as we have been adverse credit remortgage specialists for many years. The key to remortgage with poor credit is making sure you partner the right borrower with the right lender first time, so lenders don’t see too many credit checks in a persons credit file. It is common to find people have gone to their existing lenders first and already have a remortgage same lender credit check dent in their file.
Bad credit wasnt a problem with Frequent Finance, I got a good rate and they didn't rip me off with fees either!
Our Mortgage Advisor Barry Greenwood was so great to work with from start to finish and guided us through securing our remortgage. He clearly explained each stage of the mortgage for a smooth process and went above and beyond.
When trying to find out information about re mortgaging our home we found Barry Greenwood from frequent finance absolutely fantastic.
Great advice in mortgage options, would definitely recommend Barry Greenwood from Frequent Finance
We would thoroughly recommend meeting with Barry Greenwood regarding a remortgage. He was friendly, explained things clearly, and ultimately, got us what we wanted. He even worked later one night to accommodate us. There was no stress for us in arranging our remortgage - and that had not been my previous experience.
Barry Greenwood from the Putney branch were extremely helpful in getting us a very speedy remortgage offer after our original advisor left the company. The advice we received from Barry Greenwood was well explained and we have been kept well informed as progress was made.
I can only highly recommend Barry Greenwood, he was amazing through the all process. Very professional nothing was too much trouble for him. The process was very swift and had our mortgage approved within two weeks.
Five star service; really helpful advisers who took the time and dedication to answer all questions, listen to any concerns and keep us updated on progress of both the remortgage application and purchase. Thank you to Barry Greenwood in particular.
Our advisor, Barry Greenwood, has made everything to do with our mortgage so easy! I would highly recommend him!