If you are suffering from bad credit, you may feel a little down. It probably was easy to get loans and a mortgage before you ran into credit problems, but now it may be a nightmare.
Just because you have blemishes in your past doesn’t mean you are not trustworthy now. What has changed though, is you might have to jump through a few more hoops. Or you might find that you pay a higher interest rate for mortgages and loans than someone with a good credit rating.
For those of you who are at the end of your current mortgage term and need to remortgage, you have a better outlook. The thing is your lender has already leant you the money, so chances are they will do it again. Just be honest and you shouldn’t really have any problems. The only difference is that you may now pay a higher interest rate compared to what you used to, but with good behavior (making your payments on time) chances are you will be treated like other customers. Bad credit remortgages are not as bad as you would think.
So keep your head up, keep making your payments, and life with bad credit won’t seem so bad – and with you good behavior, it won’t last forever.