Hiya,

I have bad credit and my fixed rate deal ends in a couple of months.

I was wondering if i should take a new fixed rate deal or sit on the rate i get coming out from my discounted period - my credit has got worse since i took the mortgage

Anon

as the mortgage market stands at the moment, u stand little chance of remortgaging if your credit history is anything other than perfect. at the end of your fixed rate mortgage deal your existing lender will switch you to their standard variable rate (SVR). with interest rates being so low at the moment, this could actually be good news for you. ask your lender what their current SVR is. so you will then be stuck with that lender until you can repair your credit history by proving to be a reliable borrower - that applies to everything - not only your mortgage but also loans, credit cards and HP etc. if you have any ccj's gainst you, get them paid off - and do not get any more! its then a matter of time before the finance industry will consider you a good risk. then you can apply for a new mortgage.