We get it—having bad credit can feel like a huge roadblock when it comes to remortgaging. But here’s the good news: it’s absolutely possible. Sure, some lenders might see a low credit score as a risk, which can mean higher interest rates or stricter criteria. But at Mortgage Bridge, we work with specialist lenders who focus on helping people just like you secure a remortgage deal that works for them.

What Causes Bad Credit and How Does It Affect Remortgaging?

Bad credit can happen to anyone. Life throws curveballs, and sometimes finances take a hit. Here are some common reasons why your credit score might be less than perfect:

  • Missed or Late Payments – Maybe you forgot a payment or hit a rough patch financially. If you’re wondering, Can I remortgage if I missed payments?—the answer is yes, but you may have fewer options.
  • High Levels of Debt – If you’ve got a lot of outstanding debt, lenders might be hesitant. Thinking, How do I get a mortgage with bad credit and high debt? A broker (like us!) can help you find a lender willing to work with you.
  • County Court Judgments (CCJs) – If you’ve had legal trouble over unpaid debts, it can impact your credit score. Can I remortgage if I have a CCJ? It depends on how recent it is, but some lenders are more flexible than others.
  • Bankruptcy or Individual Voluntary Arrangements (IVAs) – These are big red flags for most lenders, but they don’t make remortgaging impossible. You might need to wait a bit longer or work with a specialist lender.
  • Frequent Credit Applications – If you’ve applied for lots of credit in a short space of time, it can look like you’re struggling financially, which isn’t great for lenders.

What Credit Score Do You Need to Remortgage? (Bad Credit Approval Guide)

Every lender has different criteria, but generally speaking, a score below 600 is considered “bad credit.” The lower your score, the harder it might be to find a lender. But don’t panic—there are lenders out there who specialise in helping people with poor credit. If you’re asking, Which lenders offer bad credit remortgages?—we can help you find the right match.

Can You Remortgage If One Applicant Has Bad Credit?

If you’re remortgaging with a partner and one of you has bad credit, lenders will take both credit histories into account. The person with the stronger score might improve your chances, but the bad credit will still have an impact. Will bad credit affect my remortgage application? Most likely, yes—but it doesn’t mean you’re out of options.

How Can You Improve Your Chances of Remortgaging with Bad Credit?

Just because you have bad credit now doesn’t mean you’re stuck with it forever. Here’s what you can do to boost your chances of getting a better remortgage deal:

1. How Do You Check Your Credit Report and Fix Errors?

Before applying, check your credit report. Errors happen, and if something looks off, dispute it. If you’re wondering How do I fix my credit score before remortgaging?—start here.

2. Should You Use a Specialist Bad Credit Mortgage Broker?

Absolutely. A specialist mortgage broker (like us!) has access to lenders who are willing to work with bad credit borrowers. Best mortgage brokers for bad credit remortgaging? You’re looking at one!

3. How Can You Show Financial Stability to Lenders?

Lenders love stability. If you’ve got a steady job, a reliable income, and make your payments on time, that’s a big plus.

4. Is It Better to Stay with Your Current Lender?

Your current lender may be more willing to offer you a deal rather than lose your business. They might even offer a product transfer, which is an easier way to switch deals without the hassle of moving lenders. If you’re considering alternatives to remortgaging with bad credit, this could be a solid option.

5. What Happens If You Remortgage with a Low Credit Score?

✅ A low credit score means:

  • Higher interest rates 💰
  • Possible extra lender fees 📑
  • Fewer mortgage products to choose from 🚪

✅ But a bad credit mortgage broker can:

  • Find specialist lenders 📊
  • Negotiate better rates 💼
  • Improve your approval chances ✅

6. How Can You Improve Your Credit Score Before Remortgaging?

If you’re not in a rush, improving your credit score can help you get a better deal. Pay down debt, avoid missed payments, and keep your credit usage low.

7. How Can You Reduce Your Loan-to-Value (LTV) Ratio?

A lower LTV ratio makes lenders more comfortable. If you can, overpay on your mortgage or put extra savings towards your remortgage. If you’re looking for the best way to clear debt before remortgaging, this is a good approach.

FAQs: Your Top Remortgaging Questions Answered

  • Can I remortgage if I have missed payments in the last 12 months?
  • Do I need a higher deposit to remortgage with bad credit?
  • How long after bankruptcy can I remortgage?
  • Which lenders offer remortgages for bad credit?
  • Does remortgaging affect my credit score?

Final Thoughts: Is Remortgaging with Bad Credit Possible?

Yes, it absolutely is! At Mortgage Bridge, we help people with bad credit find remortgage options every day. It might take a little extra effort, and you might pay higher rates initially, but with the right approach, you can get a deal that works for you. If you’re looking for the best remortgage options for bad credit, let’s chat—we’re here to help.

Ready to get started? Contact Mortgage Bridge today for expert advice on remortgaging with bad credit!