Bad Credit Remortgage Rates Steady Last Week of January

Many individuals hope to take full advantage of the historically low bad credit remortgage rates this January.   Rates are as low as they have been for decades.  And individual might ask, “How might I get a bad credit remortgage?” Unfortunately, it is not easy to qualify for this type of loan.  Most banks will require extensive paperwork, and will want to see a significant amount of value within the property. This might be difficult, as the majority of properties worldwide have seen a precipitous drop in value — and with that, most property owners will find that their flat has decreased in value as well.  This means that the lender will be much more conservative in what they will lend an individual.

We here at pickedpocket.com do suggest that individuals wanting to get a bad credit remortgage move quickly to get loan approval, but we also want to point out that there is still sufficient time.  Rates have been steady of late, and even if they rise a bit, we feel that rates should be quite low for the coming months.  This might also be a time to consider trying to engage in credit repair.

We will talk more of this issue in coming posts. Cheers!


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Bad Credit Remortgage Rates Lower

Individuals looking to get a bad credit remortgage will see rates easing slightly from last week, with rates dropping slightly.  However, it remains to be seen what effect, if any, the controversy over Ben Bernanke will have on mortgage rates this week.  If an individual is considering a bad credit remortgage, one might try to lock in the rate to beat the rush if Bernanke is not reappointed as the Fed Chief.

We believe that if Bernanke’s reappointment is voted down by the Senate, that rates could rocket upwards.  Bernanke has been a solid promoter of the low rates that borrowers are seeing on bad credit remortgages.

This will be an interesting week on the Hill.


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