Mortgage renewal bad credit

[paulhollywoodshairgel]

I wondered if anyone knows. Our mortgage deal is up for renewal in June. We have amassed a lot of debt due to illness. So I'm dubious we will pass a credit check. What happens if we don't?? Thanks

I think, assuming you aren’t in arrears, that they may just keep you on the SVR or you might just not get offered the best interest rates.

I think you could just do a product transfer with your existing lender and they wouldn't do any further checks, as long as you're not behind etc - you would struggle perhaps to move elsewhere.

We've never missed a payment or been in arrears. It's all credit debt and borrowing. I'm hoping they will just switch us over and that'll be that l. Thanks for replying

Your current lender will send you their fix deals before your term ends. You can either move onto a new fix with them, or let them put you onto their SVR, without credit checks, as this is a product transfer rather than a remortgage with a new lender. Hopefully one of those options will be acceptable as it sounds like moving to a new lender would be challenging. You may not therefore be able to get the very best deal on the market, but it's unlikely to be wildly off unless you are with a smaller/niche lender at the moment.

Your current lender will just offer you a new fixed rate deal or choice of deals a few months before your current deal comes to an end. They won’t need to do a credit check on you as you’re an existing customer and are keeping on top of repayments.