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Looking to remortgage to rent out, with bad credit


By Pete Mugleston

Published: 8th September 2013 Last updated: 18th September 2019

I am looking to remortgage my property so I can rent it. I do have adverse credit history but of equity in property I have lots. Barry

Hi Barry, thanks for getting in touch. Obtaining remortgages with a poor credit history can be difficult, but is still viable depending on the extent of the issues – most importantly the type of issues and how recent they were. The good news is, if you have lots of equity it can help make your application look more attractive being as you are a much lower risk – this often means lenders can be more accepting of those with a more colourful history.

Being as you are looking for a buy to let mortgage, this does make things slightly different – as there are fewer lenders available and credit scoring is sometimes different, there may also be further restrictions on income type and loan size in relation to the rental income you are expecting.

For more specific advice, we’d first need to know what is showing on your credit file. If you haven’t already done so, you can download it on free trial period’s on the following links

Print them as a PDF and send them over, then myself or one of the other specialists will be in touch.

Many thanks, Pete

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