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Mortgage & Equity Release - Call Us 0117 403 4474

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4.83% 5 Year Fixed

  • 65% LTV
  • Overall cost for comparison 5.9% APRC
  • £500 Cashback

Representative Example: Mortgage of £100,000 on property valued at £200,000 over term of 25 years. Rate fixed for 60 months after which reverts to lender variable rate of 6.49%.

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4.89% 10 Year Fixed

  • 75% LTV
  • Overall cost for comparison 5.5% APRC
  • £1000 Cashback

Representative Example: Mortgage of £100,000 on property valued at £200,000 over term of 25 years. Rate fixed for 10 years after which reverts to lender variable rate of 6.24%.

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Details sort by initial rateLenderInitial rate Rate type Overall cost for comparison Product fee Monthly cost Enquire
Initial rate: 5.19%
Rate type: 5 year fixed
Monthly cost: £1340.35 per month
Product fee: £999
Overall cost for comparison: 7% APRC
Kensington Mortgages logo 5.19% 5 year fixed 7% APRC £999 £1340.35 per month get quotes Broker Only Deal
Initial rate: 5.24%
Rate type: 5 year fixed
Monthly cost: £1346.98 per month
Product fee: £999
Overall cost for comparison: 7% APRC
Kensington Mortgages logo 5.24% 5 year fixed 7% APRC £999 £1346.98 per month get quotes Broker Only Deal
Initial rate: 5.29%
Rate type: 5 year fixed
Monthly cost: £1353.62 per month
Product fee: £0
Overall cost for comparison: 6.9% APRC
Kensington Mortgages logo 5.29% 5 year fixed 6.9% APRC £0 £1353.62 per month get quotes Broker Only Deal
Initial rate: 5.39%
Rate type: 5 year fixed
Monthly cost: £1366.96 per month
Product fee: £0
Overall cost for comparison: 7% APRC
Kensington Mortgages logo 5.39% 5 year fixed 7% APRC £0 £1000 cashback £1366.96 per month get quotes Broker Only Deal
Initial rate: 5.54%
Rate type: 5 year fixed
Monthly cost: £1387.08 per month
Product fee: £999
Overall cost for comparison: 7.1% APRC
Kensington Mortgages logo 5.54% 5 year fixed 7.1% APRC £999 £1387.08 per month get quotes Broker Only Deal
Initial rate: 5.59%
Rate type: 5 year fixed
Monthly cost: £1393.82 per month
Product fee: £999
Overall cost for comparison: 7.1% APRC
Kensington Mortgages logo 5.59% 5 year fixed 7.1% APRC £999 £1393.82 per month get quotes Broker Only Deal
Initial rate: 5.64%
Rate type: 5 year fixed
Monthly cost: £1400.57 per month
Product fee: £0
Overall cost for comparison: 7.1% APRC
Kensington Mortgages logo 5.64% 5 year fixed 7.1% APRC £0 £1400.57 per month get quotes Broker Only Deal
Initial rate: 5.69%
Rate type: 2 year fixed
Monthly cost: £1407.34 per month
Product fee: £999
Overall cost for comparison: 7.7% APRC
Kensington Mortgages logo 5.69% 2 year fixed 7.7% APRC £999 £1407.34 per month get quotes Broker Only Deal
Initial rate: 5.74%
Rate type: 5 year fixed
Monthly cost: £1414.13 per month
Product fee: £0
Overall cost for comparison: 7.1% APRC
Kensington Mortgages logo 5.74% 5 year fixed 7.1% APRC £0 £500 cashback £1414.13 per month get quotes Broker Only Deal
Initial rate: 5.74%
Rate type: 3 year fixed
Monthly cost: £1414.13 per month
Product fee: £999
Overall cost for comparison: 7.5% APRC
Kensington Mortgages logo 5.74% 3 year fixed 7.5% APRC £999 £1414.13 per month get quotes Broker Only Deal
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Representative Example:

A repayment mortgage of £120,000 payable over 28 years and 1 month initially on a fixed rate for 2 years at 1.99% and then on the lender current variable rate of 3.69% (variable) for the remaining 26 years and 1 month would require 24 monthly payments of £465.20 and 312 monthly payments of £565.39 and one final payment of £565.19.

 

The total amount payable would be £189,357.67 made up of the loan amount plus interest (£68,161.67), booking fee (£999), completion fee (£30) and valuation fee (£197).

 

In this example the overall cost for comparison is 3.7% APRC representative.

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT

Bad Credit Remortgage

A popular way to get market leading interest rates on a mortgage is to secure a fixed rate mortgage with a lender.

Fixed rate mortgages provide low interest rates for the first few years of the finance.

However, at the end of the initial period, the mortgage reverts back to the average interest rates at the time the mortgage was taken out. This could lead to individuals committed to outdated rates that result in paying more than necessary each month.

One way for individuals to ensure they do not commit themselves to higher interest rates is to remortgage their property. Though remortgaging a property may be difficult with bad credit.

Bad Credit

There are many ways in which an individual’s credit may be adversely affected.

  • A County Court Judgment                                                    

  • Any bankruptcy proceedings                                             

  • A late payment of a utility bill                                  

  • Entering into an Individual Voluntary Arrangement (IVA) with your creditors

Typically, traditional lenders will not agree to remortgage a property for a borrower with bad credit.

Fortunately, there may be a way to secure finance to remortgage a property with bad credit.

Fair Mortgages

Here at Fair Mortgages, we have experience in remortgaging properties for individuals with bad credit. Through our professional relationships with private banks, specialist lenders, family offices and wealth managers we can source the best financial solutions for our client’s needs.

Our Bad Credit Remortgage Service

Our independent mortgage broker service offers:

  • Access to the whole market – we can compare most UK lenders who will deal with bad credit ratings.

  • Credit repair mortgages – we can source remortgaging solutions that will provide the money you need and help you rebuild your credit rating.

  • Finance within a short period of time – contact us today and we can secure the funding you need swiftly.

  • Financial solutions for raising additional funding on top of an existing mortgage – If you have an existing mortgage that does not cater for your needs, we can help.

Right Bullets

Remortgage Calculator

If you need to remortgage your property and you have bad credit, use our free remortgage calculator to find out how much you could save on your monthly payments.

Remortgage Calculator

Remortgage with Private Lenders

Before a private lender agrees to remortgage a property, they will usually require:

  • Details of your existing mortgage: A full breakdown of the finance you already have in place

  • Proof of income: A number of pay slips will be requested

  • Bank statements: You will need to provide a certain amount of bank statements to prove you can afford the monthly repayments.

How to Remortgage a Property with Bad Credit

Remortgaging may give you the freedom to release equity in your existing property or could significantly reduce your monthly mortgage payments.

If you have previously had bad credit but need to remortgage, call our mortgage team on 0117 403 4474 to discuss your situation or use our Callback form.

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