Remortgage with a Bad Credit Rating
by Gary Preston of remortgage-advice.info
It seems like nobody is willing to offer you credit. You’ve tried the high street lenders, and have seen the unbelievably low rates on offer. Why won’t they offer you these same great rates? The answer is simple, it’s likely that you have a poor (otherwise know as adverse) credit rating.
These credit records are in effect a detailed report of your financial credit history.
and so on.
In addition to the above, each and every lender will set their own criteria to “score” a persons credit worthiness. Typical factors taken into consideration are:-
So why do you have a bad credit rating?
It may not seem fair to you but the reality is that mortgage lenders have to analyse the risk of lending to you. Here are some factors that may contribute to your poor credit rating which in turn results in you getting turned down by lenders.
Can you get a remortgage with adverse credit?
Take comfort in the knowledge that specialists are available who deal exclusively with helping people with adverse credit. Their role is not to pass judgment on your financial situation whatever the reason for you wanting to remortgage.