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About The Mortgage

Remortgage Your Home
To Consolidate Debt

If you’ve borrowed from different lenders and have unsecured loans, credit cards or store cards, a debt consolidation mortgage could help you take control of your finances.

Are you a homeowner looking to remortgage but are worried about how your Bad Credit score may impact your chances?

We understand that a history of Bad Credit can make finding a lender willing to provide a remortgage tricky.

However at Amber Mortgage Solutions we consider everyone. So regardless of your Bad Credit score, our specialist mortgage advisors can help you to find the best deals on the market and access an affordable Debt Consolidation Remortgage to suit your personal circumstances.

We search whole of market find you the best Homeowner Debt Consolidation Mortgage to suit your personal circumstances from the UK’s Leading Lenders

 

Mortgages For People Looking To Consolidate Debt Into One Affordable Monthly Payment!

Consolidate your debt into one monthly payment
Borrowed money from different lenders, consolidate your debt into one monthly mortgage payment.

Our expert team take great pride in finding the very best deals for our clients, and will search the whole of the market to ensure you get the Debt Consolidation Remortgage you need.

Whether you’re looking to move or Remortgage or an investor looking to secure a buy-to-let remortgage, we are able to help borrowers with bad credit get back on track, with expert advice from our dedicated team of professional remortgage brokers.

 

Who Are Debt Consolidation Mortgages For?


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If you have other debts such as unsecured loans, credit cards or store cards as well as a mortgage, it is possible to consolidate all these loans into a debt consolidation capital raising mortgage. By doing so it means you can pay off the debt quicker because the high interest cards and loans are incorporated into a new mortgage which means the overall rate is much lower. It can take decades to pay off credit cards if you are only making minimum payments. By taking out a capital raising mortgage you can have a payment plan that helps you reduce your debt and pay it off over a shorter and affordable timeframe.

 

Why A Debt Consolidation Remortgage Might Be Right For You!

The main benefit of choosing a debt consolidation mortgage, is that it can decrease the interest rate you pay and therefore lowering your overall monthly payment, and helping you pay your debts off quicker if you chose. Borrowing for the purpose of debt consolidation is not only one of the most cost effective way to borrow, but also a purpose for which most debt consolidation mortgage lenders are happy to lend. Having said this, it is still important to properly consider the risks that come with having debt consolidation mortgages against your house.

 

What Does it Mean to Have a bad credit History?

It is important to remember that your credit score is not what determines the final decision on your remortgage. It is the variety of information your credit file consists of that is taken into consideration by remortgage lenders.

Common contributors to a ‘Adverse’ credit history, or ‘score’, are:

  • A history of missed payments/defaults.
  • Previous court records. For example, IVAs, bankruptcies, CCJs.
  • Electoral roll information (whether or not you are registered to vote).
  • Your current debts and which companies these are owed to.
  • Credit card applications, in particular, how many have been declined.
  • Payday loan information held on your file.
  • A Debt Management Plan (DMP) that you may have entered.

Whilst it is possible to repair a bad credit rating, many lenders will look beyond this and consider your circumstances and different contributing factors, such as the above, to reach their own decision.

This is why it can be beneficial to have an expert remortgage broker on your side. To walk you through the process, step by step, and help you find the best remortgage possible with your credit history.

Here at Amber remortgage Solutions, we take great pride in helping clients who believe that their bad credit history makes finding a suitable remortgage impossible. Regardless of your past credit issues, our years of experience and expertise mean we are able to give you the best possible chance of securing a remortgage, no matter what your past.

How much can I borrow on a second mortgage?

A second charge mortgage allows you to use any equity you have in your home as security against another loan. It means you will have two mortgages on your home.

Equity is the percentage of your property owned outright by you, which is the value of the home minus any mortgage owed on it.

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Quick FAQs

Take a look at our extensive FAQ section

For the answers to some of our most commonly asked questions, below.

 

Frequently Asked Questions

Yes. Whilst getting a remortgage with bad credit can be difficult, it’s a common situation many applicants find themselves in.So whilst a bad credit history can make things tricky, there are steps we can help you take to start repairing your credit rating and get you back on track to finding the right remortgage for you.
Even with a bad credit score, it is still very possible for you to get a remortgage. There are varying degrees of what is considered to be a ‘poor credit’ score and one black mark on your credit file may not have as significant an impact on your remortgage application as you believe.
You may have been told that your credit rating is ‘bad’ or it might have been described to you as ‘adverse’. Essentially, in the context of getting a remortgage, both words mean the same thing and we are able to help you with both.
There is very little difference between the two, especially as different lenders will look at very different criteria when assessing a remortgage. However, if you know you have any recent defaults, IVAs, are on a debt management plan or have CCJs, you may want to seek the help of specialist advisors, like Amber remortgage Solutions, who will be able to advise on the best remortgage for you.
When looking for an affordable bad credit remortgage, there are still many options out there, they may just be that little bit harder to find. Whilst a few high street lenders may consider applicants with minor or historical credit issues, the majority will probably refuse an application with a bad credit history. However, there are still many independent lenders out there who will be able to offer you a suitable deal – you just need the right help to find them.
This really is dependent on the perceived potential risk you represent to lenders. Whilst there are some credit events considered more serious than others, such as CCJs or bankruptcy, there are still ways you can remedy your credit score to lower the costs to yourself. For example, if you have a CCJ from several years ago on your credit report, but you have since made all of your credit repayments on time and used them responsibly, whilst a high street lender may still refuse your application, this would look more favourable to an independent lender who can offer you the right deal.
Contact us today! Our friendly advisors will be happy to talk you through the next steps available to you and help you on your way to obtaining the remortgage you need.We’re here to help you, not judge you, so call us on 01702 619 221.