Interested in remortgaging your home loan, but concerned that your bad credit will get in your way? You can remortgage even with bad credit, or a CCJ or bankruptcy on file. Here are a few tips to help you on your way:
1. Improve your credit as much as possible.
Pay off old loans, and once they are paid off, ask your creditors to remove negative information from your credit report.
If you need new, positive credit listings, get a department store credit card, make a few charges on it, and pay them off in good time.
2. Arrange for a co-signer.
Talk to family and friends and see if you can find someone with a good credit rating to co-sign your loan. Be straight with them, so they understand how serious what they’re doing is.
Don’t let your quest for a good deal taint your relationship with your most valuable resource of all; your friends and family.
3. Consider whether you want to consolidate other debts into a remortgage loan.
If you are having trouble with multiple debts, you could consolidate all your debts into one loan. This could give you a lower overall interest rate, plus some extra money you can use to...
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