Remortgage with Bad Credit Low Credit Score Missed Payments and possibly save money

Can I save money if I remortgage with Bad Credit?

There are many reasons why you may want to consider a remortgage, even if you have bad credit.  You may just need a better interest rate, which could save you money each month or give you security of payment.  Perhaps you wish to raise additional funds to consolidate debts or make improvements to your home.

Whatever your need, we have access to a wide range of products and could help to secure you finance no matter what your circumstances.

  • Stress free remortgage
  • Fixed rates available for stability of payment
  • Marketing leading rates
  • Bad Credit accepted
  • Borrow up to 90% of your properties value

Remortgage application process

3 simple steps for applying for a remortgage. See more about the mortgage application process here

Complete our quick form

Our quick form will give an indication of how much you could borrow and monthly payments. No imprint on credit record

Dedicated mortgage advisor

A dedicated mortgage advisor will be assigned your case. All advisors are trained in prime and bad credit

We search the market

Our advisors will search over 100 lenders and 1000's of products to find the right match for you

Can I get remortgage with bad credit or poor credit?

A bad credit history can be problematic when you’re looking to remortgage. If you’re eager to switch to a better deal and your credit rating is letting you down, we may be able to help.

The brokers at Clever Mortgages are experienced in helping people just like you remortgage with bad credit.

We try to answer all your questions about remortgages in this section. But if there is anything you don’t understand, or need more information, click live chat in the bottom corner or give us a call on  0800 197 0504 and we will be happy to discuss your remortgage queries.

Remortgage with Bad Credit
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Very friendly and helpful staff. Eager and willing to response to queries. Patient, understanding, and knowledgeable in all aspect of Mortgages. 110% customer service. April, Beth and Mica went over and beyond. Truly satisfied
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Amanda helped us negotiate a remortgage so that we can raise funds to build an extension and it wasn’t easy…but Amanda made it seem easy! She found us the best deal and sorted all of our insurances out and worked relentlessly to chase up all the time and kept us informed at every step…We are truly grateful and would recommend clever mortgages in a heartbeat!!
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Amazing. So helpful and supportive from start to end. 100% Recommend Clever Mortgages. We contacted Clever Mortgages with a phone default on my partners credit score. Something that was holding us back. Clever Mortgages found us an affordable mortgage to help buy our dream home. Truly grateful
Please call them. They really do help.
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Sarah. Wow. After such a difficult situation we got ourselves into I reached out to Clever Mortgages via email and they were so helpful friendly and no judgement was ever felt. They got us sorted from start to finish and we are now on track to a better financial outcome. I only wish I knew about them 5 years ago and not hid away thinking things would get better on there own. Thankyou again and I am already looking forward to 2 years and to start the process again off getting onto a better product. Sarah and the girls thankyou.

How does remortgaging work?

When you remortgage, you don’t need to move home. Instead, you switch from your existing mortgage to another one. This could be with the same lender or a different one. This typically happens when the existing mortgage ends or when a fixed rate ends, or when circumstances suggest that switching deals may be cheaper.

What does it mean when you remortgage?

Remortgaging means changing the existing mortgage on your property to a new one without moving. This may be with the lender you’re already with, or by swapping to another lender.

This can quite often in most cases save you money.

Can I get a Remortgage with Bad Credit with missed payments?

A missed payment isn’t the same as a late payment. Most people forget to pay a bill occasionally, but in most cases, they’ll rectify the error and pay it as soon as they realise. A missed payment occurs when you don’t pay the bill at all – late or otherwise. As such, it has a greater effect on your credit record than a late payment.

If you have missed one or more payments, they will remain on your credit file for six years. When a lender considers you for a remortgage deal, they’ll look for missed payments. If they find one or more, they’re likely to see how recent they were. If you missed one five years ago but have paid on time ever since, this is far less likely to affect your application than if you missed a payment a few months ago.

In every case, though, you may stand more chance of remortgaging with missed payments on your credit record if you speak to a broker with experience in this sector of the mortgage market.

Can I get a remortgage if I’ve been declined due to a late payment?

This may depend on whether you have been late with just one payment or whether you have a history of making late payments. Being late is not the same as being in arrears – a late payment is deemed to be one that was made the same month you were due to pay it.

For example, let’s say your mortgage payment was due on 5th May and you paid it on the 23rd May. That would count as a late payment. If, however, you didn’t pay it until June, you’d be considered as being in arrears.

If you’re habitually late making payments, look at setting up direct debits or standing orders, as appropriate, to make sure you don’t fall foul of forgetfulness. It’s a much easier way to keep your credit record as clean as you can. Furthermore, one missed payment on an unsecured source of credit may not be viewed as seriously as one missed payment for a mortgage or other secured loan.

If you’ve already been declined for remortgaging owing to a late payment, we may be able to assist you in finding a specialist lender who is more lenient than regular lenders. Call today to find out more.

Speak with one of our experts about a Remortgage with Bad Credit

Speak to our expert brokers on all types of mortgages, remortgages, even if you have bad credit. One of our expert brokers will be able to review your current situation and advise on the best way of moving forward with our knowledge and access to over 100 lenders. The initial advice is free, there is only a cost if you proceed with a mortgage.

Watch our video on the remortgage application process

Can I get a remortgage with a default?

It’s possible to get a remortgage under these circumstances, although of course each applicant is considered on their own merit. Defaults are more likely to cause issues if they happened recently. A default remains on your credit file for six years. So, if you defaulted longer ago than that, it shouldn’t affect your application.

In cases where the default occurred far more recently, there may still be a chance to remortgage. The crucial element to remember is that many well-known High Street lenders won’t consider you if you have a recent default on your record. However, there are specialist lenders who focus on customers who find it harder to get remortgage offers via well-known lenders. You can chat to a broker to learn more about the possibilities.

Can I get a remortgage with a CCJ?

County court judgements can make it difficult to find another mortgage deal. That said, if you cleared the debt within 30 days of receiving the CCJ, it may not cause any problems. It may also depend on when you received the CCJ. The longer ago it was, the more likely it is that lenders may consider you for remortgaging today. For example, there’s a clear difference between having a CCJ seven years ago and one that occurred three months ago. Lenders are going to look at your credit history to see whether you’ve been more reliable with repayments since then.

However, you may still be able to remortgage even with one or more CCJs against you. It’s unlikely you’ll be able to get a standard deal from a lender though, which can make it more difficult to find something suitable.

Can I get a remortgage in principle for bad credit?

A mortgage in principle is an agreement from a lender that they’ll be willing to lend a certain sum to help you remortgage. While it’s always a good idea to have one, it’s even more important if you have bad credit. If you can get a mortgage in principle, it means you know that you are part way there to getting a new mortgage.

If you have bad credit, you may still be able to find a mortgage deal. Your pool of possibilities may be smaller, but there are plenty of bad credit lenders out there who focus on people who may not be accepted by traditional lenders. Clever Mortgages may be able to help you find the deal you’re looking for.

How to remortgage if you have bad credit

It’s best to start by looking at your current mortgage deal. Find out when it ends and whether there are any charges involved if you switch deals early. If you don’t do anything and let your existing deal finish, your lender will likely switch you over to their standard variable rate (SVR) – and that could be pricey.

You should begin looking for a new deal before your current one ends. By using experienced brokers at Clever Mortgages, you may find it easier to locate a better deal.

What does it mean to remortgage?

It means to swap your current mortgage for a different one. The usual reasons for doing this are:

  • Your existing deal is ending, and you want to find a cheaper rate than the standard variable your lender wants to move you to
  • You want to find a better interest rate (more likely if the interest rates have dropped since you took out your current deal)
  • You want to increase your mortgage for say debt consolidation or home improvements (quotes are usually required)

In all cases, you’re not moving home, simply switching from one mortgage to another.

What happens when you remortgage with bad credit?

When you are ready to switch, you should search for a lender who can offer a decent deal. A broker can help you search a wider portion of the market, which is especially important if you’re looking to remortgage with bad credit. Clever Mortgages specialises in helping customers with bad credit, so you’re in a good place.

The first step is to get an Agreement in Principle, otherwise known as an AiP. This doesn’t need a full credit check – it merely gives you an idea of what you may be able to borrow if you’re accepted. If you go on to make a formal application, the lender will review your credit history, income, affordability and let you know whether you’re approved. They’ll also arrange for a property valuation to take place.

If you switch to another lender, you’ll need to hire a solicitor to do this for you. A conveyancer also offers this service. However, some lenders will handle this part for you as part of the deal. Check the details to find out more.

Once legal completion has taken place, your new mortgage will repay your current mortgage and an additional funds raised will be used for the required purpose.  If this is debt consolidation funds may be sent direct to the provider. If it’s for home improvements, it will go to you.

Your new lender will let you know the new payments to make and when, the first one might be higher as it could cover more than one month.

Speak with one of our experts about a Remortgage, even if you have with Bad Credit

Speak to our expert brokers on all types of mortgages, remortgages, even if you have bad credit. One of our expert brokers will be able to review your current situation and advise on the best way of moving forward with our knowledge and access to over 100 lenders. The initial advice is free, there is only a cost if you proceed with a mortgage.

How much does it cost to remortgage with bad credit?

There are various costs involved in remortgaging. One of the key ones to be alert for is an early repayment charge. For example, if you have a five-year fixed-rate deal, you may be charged if you try to exit that deal before the five years are up.

This fee could mean it is cheaper to stay on your current deal until it ends, rather than remortgaging early. If you think about switching, you must be sure the savings you’d make in doing so will outweigh the cost of remortgaging.

If you don’t have an early repayment fee to worry about, there are still likely to be other costs to think about. These may include:

  • Arrangement fees
  • Valuation fees
  • Conveyancing fees
  • Broker fees

If you source a remortgage deal for bad credit via one of our brokers, we can clarify the various fees that might be involved. There can be a lot of number crunching happening when you source a new deal.

It’s important to know which fees apply to which remortgage deal. It’s common for a low interest rate to have a high arrangement fee. You’re unlikely to get the best of both worlds in this case. Finding the right balance to give you the best remortgaging deal even with a bad credit history is vital, and we could help you do that.

How to switch mortgage provider

If you cannot find a competitive remortgage deal with your current lender, it may be time to look elsewhere. The application process may be more involved than it would be if you stayed with your existing lender. They won’t know you, so you’ll need to complete more paperwork to supply all the information they need.

If you find a competitive deal with another mortgage provider, you’ll need to get an Agreement in Principle (AiP) first. When you’re ready to switch, you’ll need to make a formal application for that mortgage deal.

Switching may be harder if you have bad credit. However, it’s not impossible. We regularly help people find better remortgage deals. There could be extra costs involved when switching to a new lender, but our expert brokers can guide you through the options to find a competitive offer.

Is it good to remortgage?

Remortgaging should always be done with care. In some scenarios, the cost of remortgaging may mean it is cheaper to stay with the deal you’re on. For example, you may be subject to early repayment charges if you exit a deal within a certain period.

However, if you can get a cheaper deal elsewhere that would work out better over the time you hold it for, it may still be better to switch. A good example would be if you’re currently on a higher interest rate and you could get a far cheaper one with another lender. Even though you’ll see higher rates with lenders specialising in bad credit remortgaging, there’s still plenty of variety in that market. Speaking to a broker could make it easier to find a competitive deal.

Speak with one of our experts about a Remortgage with poor credit

Speak to our expert brokers on all types of mortgages, remortgages, even if you have bad credit. One of our expert brokers will be able to review your current situation and advise on the best way of moving forward with our knowledge and access to over 100 lenders. The initial advice is free, there is only a cost if you proceed with a mortgage.

Remortgage meaning

Remortgaging means changing from one mortgage to another one without moving home. You can do this with the same lender if they have another better deal available. Conversely, you can switch to another lender.

Using a remortgage calculator UK

Remortgage calculators are invaluable when you’re looking for a new deal. You can enter a few pieces of information to see your options. Your property price, the mortgage amount you need, and the term you’re looking to borrow over are all vital.

You can use our free remortgage calculator today to get an idea of the possibilities. We also include advanced features to help you search for fixed or variable rate deals over different product periods. And of course, we’re here to help when you need further information.

Remortgage Calculator

Current mortgage details



Your current monthly payment should be (based on the information you have entered)

£{{ !isNaN(current_repayment_basis) ? current_repayment_basis : 0 | currency }}

(repayment basis)

New mortgage details



Your new estimated monthly payment could be

£{{ new_estimated_monthly_payment | currency }}


Representative Example:
Mortgage amount £170,995 (including £995 lender fee), 64 payments of £748.30 at a fixed interest rate of 2.28%, followed by 236 payments of £889.60 at a variable rate of 4.24%. Over a term of 25 years, giving a total amount payable of £258,861 at an APRC of 3.6%. The contract will be secured against your property.

Best remortgage rates

Finding the best remortgage rates is even more important when you have bad credit. You’re likely to pay higher interest rates if you have a bad credit history. However, as with all mortgages, you need to shop around to compare deals and see which lender may have the best option.

You may find it simpler to use a broker in this situation. Our brokers have extensive knowledge of the marketplace when it comes to finding bad credit remortgage deals. Contact us today to see how we may be able to help.

Remortgage advice: Why is it important?

The remortgaging market can feel overwhelming if you’re not familiar with it. Seeking advice from an expert could help you understand how to remortgage and why it might be a good idea for you.

Our brokers specialise in sourcing mortgages for people with bad credit. Few mainstream lenders focus on people in this situation. That means it is even more important to take advice on how to find an affordable deal that’s better than the one you’ve got now.

How long does a remortgage take?

It depends on the individual circumstances. However, it usually takes at least four weeks and anything up to eight weeks. It may be easier if you end up switching deals with the same lender rather than swapping to another one. However, finding the most competitive and relevant remortgage offer for you is most important.

Why use a broker?

Finding any mortgage can feel challenging. While you don’t need to use a broker, if you do, it means you should benefit from a wealth of experience you won’t have. Clever Mortgages can guide you through the possibilities and see if it is possible to find a cheaper and more competitive remortgage offer today.

Why use a mortgage broker?

Most of our customers have had some form of credit difficulties, from low credit score, missed payments or declined a mortgage elsewhere.

Below are some of the lenders we work with

What to do next

Speak to a broker

Arrange a callback with one of our expert mortgage brokers who can analise your situation and advise of the best way forward at a time thats convienient for you. Alternatively, use the live chat in the bottom corner.

Complete our form

Complete our mortgage form. Although its not a mortgage application, and will not affect your credit score, it will give you a good indication of what you can borrow and afford, as well as giving our brokers a bit more information about you.