Bad Credit Remortgages
Bad credit remortgages generally have a higher interest rate than other remortgages. Typical bad credit remortgage rates are higher than the Bank of England Base Rate so you could be looking for rates of 6% and higher depending on your level of bad credit.
Another factor to consider when looking for a bad credit remortgage is how much the arrangement fee is. Bad credit remortgage arrangement fees can vary considerable so always check the bad credit remortgage deal details carefully.
Beware of really cheap bad credit remortgage rates
Of course it is wise to shop around when looking for a bad credit remortgage deal, but be cautious. Don't be drawn in by really low interest rates as the adverse mortgage lender or broker may be charging high arrangement fees or increasing the remortgage rate over time. This is why it is important to always check the APR (Annual Percentage Rate) which is a true indicator of whether you have found a cheap bad credit remortgage deal as it includes the rate as well as any extra charges or fees.
Where to find bad credit remortgages
The best place to start when looking for bad credit remortgages is a popular mortgage broker who specialises in bad credit remortgages, such as Alexander Hall.