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    • ducal11
    • By ducal11 5th Oct 17, 12:10 PM
    • 1Posts
    • 0Thanks
    • #1
    • 5th Oct 17, 12:10 PM
    remortgage 5th Oct 17 at 12:10 PM
    My mortgage was with Northern Rock, when they hit the skids it was transferred to Whistle Tree, I was having family problems at the time so i just let it go. I now want get a better rate but when i contacted Whistle Tree they told me they do not offer new morgage deal, so i am stuck on an expensive mortgage. When i have looked into moving to another company i am told i do not have sufficient income. I have never missed a repayment in 10 years. I am a divorced mother with one child. Using the calculators on the MSE web site i could save over 150 pounds a month. Has anyone else came across this and can anyone advise me on a further course of action.
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    • glosoli
    • By glosoli 5th Oct 17, 12:19 PM
    • 675 Posts
    • 391 Thanks
    • #2
    • 5th Oct 17, 12:19 PM
    • #2
    • 5th Oct 17, 12:19 PM
    Affordability criteria has changed an awful lot since you took the mortgage out, and in order to remortgage you would have to meet the current criteria.

    What is the balance, income, house value, etc?
    • wantonnoodle
    • By wantonnoodle 5th Oct 17, 12:19 PM
    • 225 Posts
    • 152 Thanks
    • #3
    • 5th Oct 17, 12:19 PM
    • #3
    • 5th Oct 17, 12:19 PM
    I would suggest you need to find an independent mortgage broker, ideally one that is experienced in dealing with situations such as yours (ie getting out of the type of trap you are in).

    Lenders have strict affordability criteria you need to meet these days, and so you would be best finding a broker who knows these and can find something you may have a chance of meeting the criteria for.
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