Contrary to popular belief your credit does not have to be perfect to secure a remortgage. If it is close to perfect then you can expect your remortgage process and approval to be easier and requirements easier to meet. Yet, credit far from perfect doesn’t mean that options are closed for you.

You should expect the process to take longer as lenders evaluate the risk of approving your loan. So don’t wait till the last minute to begin working for your remortgage. The remortgage costs will be more expensive as well. Yet the process and expenditures could prove to be worth it should you secure a good rate and one which benefits your personal situation.

With the change in your credit history it may be more beneficial for you to shop for a lender different than the one who granted your first mortgage. Approach several different lenders and different types of lenders. Explore the options they have available and find who will work with you for the lowest rate and with less cost.

Beginning on June 30 remortgage lenders will be required to give you a complete and professional overview of all of your remortgage options. Borrowers should feel more confident that they are getting the right information they need to make the choice right for their situation. So, just because you have some marks on your credit don’t assume that you are totally cut off from obtaining a remortgage. At the very least you will find out what improvements need to be made for you to obtain one. Then you will have a plan in place for getting the best remortgage deal in the future.