Bad credit remortgages
Remortgaging with bad credit is possible, but your options will differ from those available to borrowers with a clean file. This guide explains why people with credit issues need to remortgage, what lenders look for, and how to find the best deal.
In this guide
Can you remortgage with bad credit?
Yes. Several specialist lenders offer remortgage products to borrowers with adverse credit. Your options depend on the type and severity of your credit issues, how much equity you have in your property, and your current income.
In some cases, a product transfer with your existing lender may be easier than a full remortgage, because your lender already knows your payment history with them and may not run a full credit check.
Why do people with bad credit need to remortgage?
- SVRs are typically 7–8.5% — far higher than fixed rates
- Even a bad credit fixed rate may be cheaper than your current SVR
- Locking in a rate gives you payment certainty
- Roll high-interest debts into a lower mortgage rate
- One manageable monthly payment instead of several
- Be aware: you’re securing debts against your home
- A bad credit remortgage is often a stepping stone
- Maintain clean payments for 2–3 years
- Then remortgage again to a mainstream rate
What do lenders look at when you remortgage with bad credit?
- Issues older than 2–3 years are viewed much more favourably
- Recent problems (last 12 months) significantly limit options
- The trend matters — improving credit history is a positive signal
Product transfer vs remortgage with bad credit
Product transfer
- Your lender already knows your mortgage payment history
- Often no full credit check or affordability assessment
- No legal costs or valuation fees
- Quicker and simpler process
Full remortgage
- Access to the whole market including specialist lenders
- May find a better rate than your current lender offers
- Full credit check and affordability assessment required
- Legal work and valuation needed
How to improve your chances of being accepted
Check your credit reports for errors
Get reports from all three agencies (Experian, Equifax, TransUnion). Dispute any inaccurate information — wrong addresses, accounts that aren’t yours, or debts marked as unsatisfied when they’ve been paid.
Satisfy any outstanding debts
If you have unsatisfied defaults or CCJs, paying them off before applying will improve your options. Some lenders won’t consider you at all with unsatisfied debts.
Maintain clean payments for as long as possible
Every month of clean credit card, loan, and mortgage payments strengthens your profile. Lenders want to see that past issues are behind you.
Build up your deposit or equity
If you’re overpaying your mortgage, your LTV is improving. A lower LTV opens more doors and better rates.
Use a specialist broker
A broker who understands adverse credit will only submit your application to lenders likely to accept you, protecting your credit file from unnecessary searches.
Get expert help with your bad credit remortgage
At Clearview Mortgage Solutions, we help borrowers with all types of credit issues find the right remortgage deal. We’ll compare your current lender’s product transfer with specialist remortgage options across the market and recommend the best path forward.
Contact us for a free, no-obligation review of your situation.
Related guides
More guides in our bad credit mortgage hub.
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Our calculators give you a useful estimate, but your actual mortgage and protection options depend on your full circumstances, credit history and lender criteria. Clearview Mortgage Solutions’ FCA regulated—our CeMAP-qualified advisers are on hand to explain how each calculator applies to you and to help you compare real mortgage quotes from 90+ UK lenders.
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