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You may be wondering ‘can you remortgage with bad credit’ and the answer is most definitely yes.


If you’ve had credit commitment blips since you’ve taken out your last mortgage, it can be difficult to remortgage your home. So, you might be wondering, “can I remortgage with bad credit?” and the answer is YES you can. At Twin Pine Mortgages we’re specialists in bad credit remortgages. We have the expertise and the knowledge when it comes to helping customers with a poor credit history. We work with over 70 lenders, including high street lenders and specialist lenders and have helped hundreds of people with either bad credit or those struggling with financial problems. 


If your existing mortgage product is coming to an end it may be a good time to review your mortgage to make sure it is still meeting your needs, particularly if you need to remortgage with bad credit. Even if the rate is reduced with your current lender, you could be missing out on rates available from across the market.


You may have been in your home a while and want to take advantage of the rise in property value by releasing some equity to pay for home improvements, a dream holiday, help your children buy a property or consolidate debts. Whatever your plans, talk to our team to make sure you're getting a remortgage deal that fits your needs and circumstances.

Remortgage with poor credit score


Since you arranged your original mortgage your situation may have changed through marriage, the birth of a child or a change in income that now finds you in the position of needing to remortgage with a poor credit score. We'll make sure you get expert advice to cater to your individual needs and aim to get you a deal that will be affordable and pay the mortgage off as quickly as possible - potentially saving thousands of pounds.


If you need to remortgage with a poor credit score you may have fewer options available to you, particularly from High Street Banks and Building Societies. To remortgage with a poor credit history you need to take into account:


  • How long ago your credit history problem started

  • What type of bad credit you have; such as default, CCJ, missed mortgage payments

  • Whether the issue with your credit profile is resolved or still ongoing

  • What led to the credit history problem e.g. illness or loss of income?


Whatever the issue our team of advisers can give advice and guidance to make sure any remortgage with a poor credit score is made as simple as possible. 

The impact of bad credit on remortgaging: what to expect


Firstly, you should be prepared for the fact that your options will be more limited. Many lenders will not consider applications from borrowers with a poor credit score, as they see them as high-risk. This is why it is best to work with a specialist broker like ourselves, and we can help you to find lenders who are willing to consider your application.


Another thing to expect when trying to remortgage with bad credit is that you may need to provide additional documentation or evidence to support your application. For example, you may need to provide details of your income and expenditure, or show evidence that you have paid off previous debts. This is because lenders will want to be sure that you can afford the mortgage repayments and are not at risk of defaulting.


It's also important to be aware that you may need to provide a larger deposit than you would if you had a good credit score. This is because lenders may see you as a higher risk borrower and will want to reduce their own risk by requiring a larger deposit.


If you are successful in your application for a remortgage with bad credit, you should expect to pay higher interest rates than borrowers with a good credit score. This is because lenders will charge higher rates to compensate for the increased risk of default. However, it's important to remember that this is not always the case, and you may be able to negotiate a better rate with your lender if you have a good income and a stable employment history.

Remortgaging with bad credit: 5 tips to make the process go smoothly

  1. Opt for a broker like us who can research multiple lenders to find one that specialises in working with borrowers who have bad credit. 

  2. Check your credit report: Before you start looking for a lender, it's important to check your credit report. Identify any errors or inaccuracies and get them corrected. You can also take steps to improve your credit score before applying for a remortgage (see some tips on this below)

  3. Consider a co-signer: If you're having trouble getting approved for a remortgage on your own, consider asking a family member or friend with good credit to co-sign the loan with you. Keep in mind that if you fail to make payments, your co-signer will be responsible for the debt.

  4. Be prepared to pay a higher interest rate: Borrowers with bad credit are typically considered higher risk, which means lenders may charge a higher interest rate. Be prepared for this and factor it into your budget when deciding on a lender.

  5. Read the fine print: Before signing on the dotted line, make sure you read and understand all the terms and conditions of the loan. Pay attention to the interest rate, repayment schedule, and any fees associated with the loan. If you have any questions, don't be afraid to ask your lender for clarification.

Remortgage with poor credit: how to improve your credit score before remortgaging


Improving your credit score is an essential step to take before applying for a remortgage. A higher credit score can increase your chances of getting approved for a loan and can also help you get a lower interest rate, which can save you money over the life of the loan. Here are some tips to help you improve your credit score:


  1. Make all payments on time: Payment history is the most important factor in determining your credit score. Late payments can have a significant negative impact on your score. Make sure you pay all your bills on time, including credit cards, loans, and utilities.

  2. Pay off debt: High credit card balances can weaken your credit score so try to pay off your debt as much as possible. 

  3. Check your credit report for errors: Errors on your credit report can hurt your score. Check your credit report regularly and dispute any errors you find.

  4. Avoid opening new credit accounts: Every time you apply for credit, it can have a negative impact on your score. Avoid opening new credit accounts unless you absolutely need them.

  5. Keep old accounts open: The length of your credit history is another important factor in determining your score and supporting your application to remortgage with poor credit. Keep old credit accounts open, even if you don't use them.


Improving your credit score takes time, so it's important to start early. By following these tips, you can improve your score and increase your chances of getting approved for a remortgage with better terms and a lower interest rate.


Remortgage deals with bad credit


​If you need to remortgage with bad credit in your credit history you will likely see that the way the new mortgage works will be very similar to any other mortgage. You will still have the option to have a fixed or variable interest rate, still have the option of a capital repayment or interest-only loan and you will still make your payments monthly.


The main difference between deals for customers with a clean credit score and poor credit history is:


  • You may have to pay a higher interest rate to reflect that the lender is taking a higher level of risk

  • The deal may have higher lender fees attached to it for getting the new mortgage in place. These could be either added to the loan or paid upfront.

  • The lender will usually need more evidence from you such as statements from Debt Management Plans, secured and unsecured loan statements, and further income checks such as P60’s or references.

  • The mortgage offer made by the lender may have a shorter validity period

  • The mortgage deal may be less flexible than a mainstream deal such as smaller overpayment allowances or not being able to ‘port’ the mortgage if you move home.


However, just because you may have a bad credit history now, if you can maintain all your credit commitments going forward, it can improve. This means that when you come to do your next remortgage you may be able to get a more mainstream deal as the poor credit issues have been removed from your profile.

Can you remortgage with a CCJ? (County Court Judgement)


Searching for a remortgage with a CCJ can be difficult and daunting. While a CCJ is a negative mark in your credit history, thankfully, a CCJ doesn't necessarily mean that you can’t get a remortgage.


When applying for a remortgage, it is often the case that depending on your specific CCJ, it will work against you getting the very best deals and reduce your options. This can be determined by the date it was registered, the amount, the number of CCJ’s and whether it is been paid off or is still outstanding. As well as focusing just on the CCJ the lender will also take into account all other credit histories such as making sure other payments have been kept up to date or if you’ve got any other bad credit. 


A lender will gather information on you including credit reports and affordability checks. Arranging a remortgage with a CCJ will only play a partial role in whether you get accepted for a mortgage or declined. At Twin Pine Mortgages, we’re specialists in bad credit remortgages and will be able to quickly and easily give you advice about your options and complete all the paperwork to get your new mortgage in place.

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