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Remortgage with Bad Credit - GoMortgage®
Been through a rough patch? That doesn’t mean you’re stuck where you are.
Having bad credit doesn’t mean you can’t remortgage. It just means you need the right plan, the right lender, and the right broker. That’s where GoMortgage comes in.
We’ve helped hundreds of clients across the UK remortgage with bad credit – even after CCJs, defaults, DMPs, or IVAs.
No judgement. No jargon. Just a proper plan to move you forward.
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Bad Credit Mortgages - Remortgage with bad credit
What does “remortgaging with bad credit” actually mean?
Remortgaging means switching your mortgage deal — either to get a better rate, borrow more, or release equity from your home.
If your credit history isn’t perfect (and whose is?), many high street lenders might say no. But specialist lenders look beyond the score. They assess the full story — what happened, when, and what’s changed since.
That’s where we help you present your story properly — so lenders see you as a person, not a number.
Common reasons people remortgage with bad credit
- Your fixed rate is ending, and you want to avoid the lender’s Standard Variable Rate (SVR).
- You want to reduce monthly payments or switch to a better deal.
- You’d like to raise capital for home improvements, debt consolidation, or personal goals.
- You’re adding or removing a person (name) from the mortgage.
- You’ve recovered from past financial issues and want to start rebuilding your credit and get a better rate.
Access Your Credit Report
Knowing exactly what lenders see is the first step. Checkmyfile lets you view your full credit picture across all three UK agencies in one place, helping you spot issues, track progress, and avoid surprises before you apply.
What counts as “bad credit”?
Bad credit doesn’t have to mean you’ve done anything wrong — life just happens. Lenders typically flag these:
- Late or missed payments
- Defaults
- CCJs (County Court Judgments)
- Debt Management Plans (DMPs)
- Individual Voluntary Arrangements (IVAs)
- Bankruptcy or repossession
- Payday loans
- High credit utilisation or no credit history
At GoMortgage, we’ve seen it all. And we’ve still got clients approved.
Can I remortgage with bad credit?
Yes – in many cases, you can.
The key is to match your situation to the right lender and have a broker who knows who says yes, and who doesn’t.
Your chances improve if:
- The issues are older than two years
- The debts are settled or under control
- You have equity in your property (ideally 15–25% or more)
- You’ve maintained strong recent payment history
You can show affordability and stability
If you’re not quite there yet, we’ll map out a step-by-step plan to get you ready.
How much can I borrow?
Your borrowing amount depends on:
- Your income and affordability
- Your outgoings and commitments
- The amount of equity you have in your home
- The recency and severity of any credit issues
As a guide, most lenders will lend 4–4.5× income, though this can vary depending on your credit profile. The stronger your recent record, the better your options.
Will I need a bigger deposit or equity?
Typically, yes.
The worse or newer the credit events, the more equity lenders will want you to have.
- Mild/older issues: around 15% equity (85% LTV)
- Recent or severe issues: around 25–30% equity (70–75% LTV)
Don’t worry – we’ll work out exactly where you stand and what’s achievable.
Can I raise money when I remortgage with bad credit?
Yes – sometimes it’s even a smart way to move forward. You can raise funds for:
- Home improvements (e.g., extensions, renovations)
- Debt consolidation (if suitable)
- Business or personal projects
- School fees or life goals
We’ll always make sure it’s responsible and affordable, and we’ll show you what’s realistic.
What if I’ve been declined elsewhere?
That’s where we shine.
Many of our clients come to us after being told “no” by their bank or another broker. The truth is, most mainstream lenders don’t have the tools — or the appetite — for complex credit profiles.
We do.
We work with a wide panel of specialist lenders who genuinely understand real-world credit challenges — and we know their criteria inside out.
The GoMortgage process
We keep it simple, fast and honest.
- Chat – We get to know your goals and current mortgage deal.
- Credit Review – You pull your multi-agency credit file via Checkmyfile.
- Equity & Affordability Check – We assess your property value, outstanding balance, and income.
- Lender Match – We shortlist the lenders that actually fit your story.
- Decision in Principle (DIP) – We get early confirmation to avoid suprises.
- Full Application – Packaged perfectly, with clear explanations for underwriters.
- Offer & Completion – We chase it through to the finish line.
- Aftercare – We diarise your next review, to improve your rate and terms next time around.
Improve your chances before you apply
- Check your full credit report → Get Your Free Trial
- Avoid missed payments in the 3–6 months before applying.
- Pay down overdrafts or short-term credit where possible.
- Keep income consistent (no wild fluctuations).
- Have paperwork ready: ID, address proof, payslips, bank statements, SA302s if self-employed.
- Talk to us early – timing can make all the difference.
Ready to remortgage?
Whether your file shows a few blips or a full history of challenges — we’ll find a way forward. Because at GoMortgage, we don’t just look at your past.
We plan for your future.
📞 Call Chris & the GoMortgage team: 01253 935050
💻 Or start with your free multi-agency report → Checkmyfile
Speak With A Mortgage Advisor today
Contact our friendly mortgage advice team. Sound mortgage advice from the experts at GoMortgage.
Author: Chris Days Head of Content
- 5 Mins
- Updated: Nov 5 2024
Frequently Asked Questions
Can I remortgage if I’m in a DMP or IVA?
Yes, though options depend on how long the plan has run and if payments are up-to-date. We’ll match you to flexible lenders who consider active arrangements.
Will my bad credit affect my remortgage rate?
Probably, at least initially. Rates start higher but can improve significantly after 12–24 months of clean conduct.
Can I switch lenders with bad credit?
Absolutely. Many clients move from their existing lender to a specialist one, or vice versa, depending on timing and affordability.
How long will it take?
Most remortgages take around 4–8 weeks depending on valuation and legals.
Should I consolidate debts into my mortgage?
It can reduce monthly costs, but you will pay interest over a longer term. We will show you the pros, cons, and alternatives first.
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