A Bad Credit Remortgage is a remortgage where the applicants have some form of Bad Credit or Adverse credit registered against them.These types of remortgage have also been called Adverse, Sub prime or non status remortgages.

Bad Credit/Adverse can mean a variety of problems, such as CCJ's (County Court Judgements) or defaults. It can also mean arrears on current loans, secured or unsecured or mortgage arrears.The bad credit/adverse information is usually held with one of the credit reference agencies.These companies hold information about the conduct of current and past accounts and supply this information in the form of a credit check.There are several forms of credit check, some which only show ccj and electoral roll information.There are some which show all the account information, and some which give a credit score.Different lenders use different methods and different agencies, so an applicant may be turned down by one lender by is accepted by another.

A bad credit/adverse remortgage is usually available through a variety of lenders, not normally high street lenders, but they may be subsiduaries of high street lenders. There is normally a higher rate of interest, and usually a lower LTV (Loan to Value).In the current market, this type of remortgage has become more difficult to place, however, there are still lenders available.

The main idea with this type of remortgage is that the applicant is placed with this type of lender, then over a period of time they improve their credit file, then they are placed with a main stream lender, which brings down the rate of interest and the monthly payments.A good financial advisor will be able to advise on the best alternatives. Mortgage advisors can be either tied to one lender or be non tied, which generally menas the can advise on whole of market mortgages. The FSA (financial Services Authority) regulates the mortgage industry within the UK.