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Remortgage with a default

If you’ve defaulted on a repayment in the past – whether that was on a loan, mortgage or credit card – you could find it a little more difficult to get a top remortgage deal. However, it’s still possible to find a suitable remortgage providing you choose the right lender to approach.

This is because mortgage lenders often view people who have missed repayments in the past as a risk, and therefore are reluctant to lend on the favourable terms that might be offered to someone with no defaults and a good credit score.

How does a default in the past affect my remortgage options?

You can get a variety of remortgages for people with defaults, including fixed rate remortgages, tracker remortgages and discounted rate remortgages. However, don’t be surprised if you are unable to access the very best remortgage deal, as lenders tend to reserve these for clients with excellent credit histories.

Finding a remortgage with a default

Having a default in the past will affect your credit rating, but there are steps you can take to improve other aspects of your credit score before you apply for a remortgage. Firstly, it’s a good idea to check your credit file using one of the various online credit check websites. This will give you an idea of your situation and allow you to spot areas for improvement. For example, making sure you have up-to-date information, are registered on the electoral roll, and have paid off outstanding debts.

Fortunately, getting the right remortgage deal with a default can even help you to rebuild your credit rating – making timely repayments towards paying off your remortgage can help to demonstrate that, whatever repayment problems you may have faced in the past, you are now a reliable borrower. At Remortgage-net.co.uk we can help you get the very best remortgage with a default, so why not give us a call on 0845 450 9661 and speak to our experienced remortgage advice team.


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