Remortgages for People with Adverse Credit
Posted at by ifydcat on category CreditI have to ask this, do you have bad credit? Are you in over your head financially? Are you upside down in your current home mortgage? You may need to consider consolidating your monthly bills into one easy payment. Contact a remortgage broker and see if they do adverse credit remortgages. Sit down with them and explore all the mortgage options that you may be qualified for.
Due to this economic uncertainty most people in this country are in the same boat as you, trying to keep your head above water without letting your credit rating get to bad. Your mortgage is usually the largest monthly payment you have so if you could get a remortgage that would lower your payment and the amount of interest you have to pay you might be better off.
Usually a home mortgage has the lowest interest of any of your current debts, so sometimes it makes sense to consolidate all your higher interest debts into your mortgage. This is a strategy that can sometimes reduce your monthly out go and save you thousands of dollars in interest over the years.
The people most qualified for adverse credit remortgages are as follows: people going through a divorce, someone who has taken ill and can no longer work or somebody who is just in over their head and on their way to becoming bankrupt, if things don’t change.
There are mortgage brokers out there that will be able to help you with an adverse credit remortgage, but be prepared to pay more in fees and a higher interest rate than if you would have had good credit. There is not going to be many remortgage options for you either. You may have to settle for less than desirable interest rate or terms.
You can do a search online for a mortgage company that may be able to get an adverse credit remortgage for you. Maybe go to your local bank and ask them if they can help you or refer you to someone who might be able too. You can also ask your friends who they have used in the past.
With over 20 years experience in remortgages, Scott Anthony can give you remortgage advice about adverse credit remortgages.