remortgage service for poor credit score in Uk
At Pearl Lemon Properties, we understand the challenges of remortgaging when you have a poor credit history. Whether you’ve experienced missed payments, a County Court Judgement (CCJ), or even bankruptcy, we offer solutions tailored to your financial situation. Our expertise in the UK market helps individuals and families secure the right remortgage deals, ensuring a path towards financial stability.
Our Services for Poor Credit Remortgages
When you work with Pearl Lemon Properties, we provide a comprehensive range of remortgaging services specifically for individuals with poor credit histories. Each service is designed to address unique financial situations, ensuring that we find the best possible mortgage options for our clients.
Credit Assessment and Remortgage Eligibility Check
One of the first steps in securing a remortgage is understanding your current credit position. We offer a free credit assessment to evaluate your credit score and review your financial history. During this process, we will:
- Identify any adverse events such as County Court Judgements (CCJs), Individual Voluntary Arrangements (IVAs), or bankruptcies.
- Provide tailored recommendations on how to improve your credit score.
- Connect you with lenders that are most likely to approve your remortgage application based on your current financial standing.
Specialist Bad Credit Lender Matching
With over 30% of UK remortgages issued to homeowners with poor credit, we understand the importance of finding the right lender Control Your Money Mortgageable.
We work with an extensive network of specialist lenders who are more flexible when it comes to bad credit. This service includes:
- Lender comparison: We match you with lenders who consider factors beyond just your credit score, such as home equity and current repayments.
- Flexible lending criteria: We identify lenders who accept applicants with adverse credit events like CCJs or past bankruptcies.
- Interest rate negotiation: Based on your credit circumstances, we negotiate competitive interest rates with our network of lenders, helping you avoid the higher rates often associated with poor credit remortgages Ocean Finance.
Debt Consolidation Through Remortgaging
Many homeowners with poor credit use remortgaging as an opportunity to consolidate existing high-interest debts into one manageable monthly payment. Pearl Lemon Properties specialises in arranging debt consolidation remortgages that allow you to:
- Reduce overall debt costs: By consolidating high-interest debts into your mortgage, you can often secure a lower interest rate, reducing your monthly repayments by up to 30% Mortgageable.
- Improve financial stability: Streamlining your debt payments can help you manage your finances more efficiently and reduce the risk of further missed payments.
We’ll guide you through this process to ensure that debt consolidation is the right decision for your financial situation and that it won’t put your property at risk.
Mortgage Arrears Remortgage Solutions
If you’re struggling with mortgage arrears, finding a remortgage solution can be challenging but not impossible. We work closely with lenders who specialise in assisting homeowners with arrears. Our services include:
- Arrears assessment: We review your mortgage arrears and provide a strategy for working with lenders who may consider your application, even with missed payments.
- Lender mediation: We act as an intermediary, negotiating on your behalf to secure favourable terms, helping to reduce the risk of further financial penalties.
- Equity release options: If applicable, we explore equity release options to help you cover any outstanding arrears.
Product Transfers for Poor Credit Remortgages
For homeowners who may struggle to qualify for a new remortgage due to recent credit issues, a product transfer with your current lender can be a viable alternative. This service involves switching to a different mortgage product with your current lender without undergoing a full credit check. Pearl Lemon Properties assists with:
- Negotiating better rates: Even with poor credit, your existing lender may offer competitive deals.
- Streamlining the process: We handle all the paperwork and negotiation, ensuring you can secure the best product transfer deal without impacting your credit score.
This is an excellent option for those who want to avoid the complexity of applying for a completely new mortgage.
How We Help You Secure a Remortgage with Bad Credit History
At Pearl Lemon Properties, our expert mortgage advisors have years of experience in helping clients with poor credit histories secure remortgages. Whether you’re looking for an option that accommodates your financial situation or want to refinance your home, we will work with you to find the best solution. Here’s how we do it:
Understanding Your Situation
We begin by assessing your current financial status and credit report. We understand that every situation is unique, so our team will work with you closely to identify your specific needs and determine how we can help you find the best remortgage deal. This step is crucial for us to find the right lenders who specialize in helping people with bad credit.
Accessing the Right Lenders
We have a wide network of lenders across the UK who specialize in offering remortgage deals to clients with poor credit. Our connections enable us to access competitive rates that may not be readily available to individuals without the help of a specialist mortgage broker. Whether you’re located in London, Manchester, or any other major city, we ensure that you have access to the most suitable options.
Finding the Best Remortgage Rates
By leveraging our network, we can identify remortgage deals that offer the lowest rates for people with poor credit. We’ll compare different lenders to ensure you get the best possible deal. While it may not be the same as someone with perfect credit, we work hard to secure favorable terms that reduce your monthly payments and offer more flexible repayment options.
Guidance Throughout the Application Process
Navigating the remortgage process can be overwhelming, especially with a poor credit history. Our mortgage experts will guide you through every step of the process, from choosing the right lender to submitting your application. We’ll help ensure that your paperwork is in order, and provide advice on how to make the process as smooth as possible. Contact us now for getting best services!
Get the Support You Need with Pearl Lemon Properties
Remortgaging with a bad credit history doesn’t have to be a stressful process. At Pearl Lemon Properties, we are dedicated to helping you achieve your financial goals by securing a remortgage that works for you. Whether you’re based in London, Birmingham, or any other UK city, our team is here to help you access the best remortgage deals.
Contact us today to discuss how we can assist you with your remortgage needs and help you improve your financial situation.
FAQ'S
How can I get a remortgage with a poor credit history?
At Pearl Lemon Properties, we work with a wide network of lenders who specialize in offering remortgage deals for people with poor credit. Our mortgage experts will help you find the best deal that suits your financial needs.
What are the requirements for remortgaging with bad credit?
Lenders typically require a larger deposit and may offer a lower loan-to-value (LTV) ratio. However, our team will assist you throughout the process to find a suitable solution tailored to your circumstances.
Can I reduce my monthly payments with a remortgage if I have bad credit?
Yes, remortgaging with bad credit can help you lower your monthly payments by securing a better rate. Our team will help you find competitive options, even with a poor credit history.
How long does it take to remortgage with poor credit?
The timeline for remortgaging can vary depending on your situation. Typically, the process takes around 4-6 weeks, but our team will work to make the process as smooth and efficient as possible.
Can I use remortgaging to release equity with poor credit?
Yes, it’s possible to release equity through a remortgage, even with bad credit. Our team can help you find the best deal for your property’s value and your needs.
Is it possible to get a remortgage if I’m self-employed and have poor credit?
Yes, our expert mortgage brokers can help you secure a remortgage even if you’re self-employed and have poor credit. We specialize in working with individuals with varied financial backgrounds.
