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Refused Credit Remortgage
- Published 11/29/2007
Get a refused credit remortgage quote
Most high street lenders only accept applicants with a good credit score, and hence many people are refused a remortgage. Lenders like Halifax, Abbey and Nationwide have strict criteria which means they usually will not lend to those with CCJs (County Court Judgements), defaults, mortgage or secured loan arrears, IVAs (individual Voluntary Arrangements) or discharged bankrupts.
The explosion in cheap credit has seen huge increases in personal debt in the UK. Many people now have personal loans, credit cards, car loans, student loans, graduate loans, store cards and hire purchase agreements. These can be hard to manage along with direct debits coming out of your account, and this can lead to missed payments. These in turn can lead to further adverse credit, which will stay on your credit record for 6 years!
Furthermore, it’s those with high debt to income ratios who are most at risk of defaulting should their income be lowered. This is possible if you fall sick or unemployed; get divorced or separated; fall pregnant or adopt children, and a myriad of other reasons.
Luckily, there are many lenders who specialise in remortgages for those who have been refused credit on the high street. At The Mortgage Provider, we have arranged remortgages for clients who have been refused credit for over 10 years. We are independent, directly authorised and ‘whole of market’ so we have access to every ‘refused credit’ remortgage in the UK. Leave your details below and we will search all of our remortgage lenders for the best possible deal for your circumstances
Most high street lenders only accept applicants with a good credit score, and hence many people are refused a remortgage. Lenders like Halifax, Abbey and Nationwide have strict criteria which means they usually will not lend to those with CCJs (County Court Judgements), defaults, mortgage or secured loan arrears, IVAs (individual Voluntary Arrangements) or discharged bankrupts.
The explosion in cheap credit has seen huge increases in personal debt in the UK. Many people now have personal loans, credit cards, car loans, student loans, graduate loans, store cards and hire purchase agreements. These can be hard to manage along with direct debits coming out of your account, and this can lead to missed payments. These in turn can lead to further adverse credit, which will stay on your credit record for 6 years!
Furthermore, it’s those with high debt to income ratios who are most at risk of defaulting should their income be lowered. This is possible if you fall sick or unemployed; get divorced or separated; fall pregnant or adopt children, and a myriad of other reasons.
Luckily, there are many lenders who specialise in remortgages for those who have been refused credit on the high street. At The Mortgage Provider, we have arranged remortgages for clients who have been refused credit for over 10 years. We are independent, directly authorised and ‘whole of market’ so we have access to every ‘refused credit’ remortgage in the UK. Leave your details below and we will search all of our remortgage lenders for the best possible deal for your circumstances