Adverse Credit Remortgage

Are you looking to release some equity from your property but are concerned about how your adverse credit history might affect the application? Are you simply looking for a better rate of interest than your current one? Does your adverse credit history mean that you are unsure as to whether this is possible?

In response to both questions the truth is that almost anything is possible and almost everything is achievable. If you have available equity in your property and you are able to satisfy affordability criteria then it is highly likely that you will be approved for an adverse credit remortgage, regardless of your credit history.

There are many factors that will come into play when underwriting a remortgage application. It is true to say that a borrower’s level of adverse credit is an important consideration however it is not necessarily the primary concern in the eyes of the mortgage lender.

It is more important to provide evidence as to how your circumstances have changed since running into financial difficulties – this can often be displayed by satisfying the affordability criteria, in some instances by consolidating outstanding debts and bills. These days, many of the sub-prime lenders are more concerned about your ability to make your mortgage repayments on time in the future rather than any credit problems that have been experienced in the past.

That is not to say that a mortgage company will view an adverse credit record as past water under the bridge – it is more likely that an adverse credit remortgage application will be subject to a higher rate of interest than that of someone will a perfect credit record.

Whether your adverse credit history is due to missed payments on your mortgage, loan arrears, defaults, County Court Judgements (CCJs), Individual voluntary arrangements (IVAs) or a previous bankruptcy – we can still help! An adverse remortgage application may still be arranged on highly competitive rates of interest – nearly every type of enquiry will considered, regardless of the level of adverse credit you may have.

In today’s mortgage market there are a large number of specialist mortgage lenders whose business is solely to service the sub prime mortgage market. This niche area of lending has seen over the last few years a large increase in the number of both mortgage broker and lenders, all vying for your business. This explosion in the sub-prime sector has subsequently resulted in fierce competition which in turn has resulted in a better deal for those borrowers looking for an adverse credit remortgage.

Enquire today to find out what competitive deals are available to match your circumstances. Whether you are looking for a fixed rate, discounted rate, interest only or a variable rate – we can help! If you are self employed with little or no proof of income – again, we can still assist! By enquiring to Any Loans it is very easy to remortgage with adverse credit, simply start by completing the online remortgage form by clicking here.