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  • FIRST POST
    • MissConundrum
    • By MissConundrum 8th Jan 18, 2:17 AM
    • 1Posts
    • 0Thanks
    MissConundrum
    Bad credit RE-mortgaging
    • #1
    • 8th Jan 18, 2:17 AM
    Bad credit RE-mortgaging 8th Jan 18 at 2:17 AM
    I have bad credit (stupidity few years back, approx £2.5k here and there that went to court and £9k loan with creditor).

    I have a help to buy flat, bought @ £101k can sell £180k. New house mortgage I could get is approx £160k. Fine.

    I have to pay builder £15k and government £15k when I move/sell - also fine.

    BUT I applied for remortgage to then own solely and pay off the £30k to own fully to then look for a house and move, easiest way. However when applying for additional borrowing of course credit check failed! So do I sell flat, store equity, pay off all bits of debt laying with court and loan and £900 credit card. Then build credit up again to apply again in a year or so.....or stay and try for a guarantor mortgage, get mortgage through Dad but deposit may need to be bigger....pay off debt when sell and move? Spinning head!!!!!
    PS sensible now so I more debt! Not even CC in future!!
Page 1
    • anselld
    • By anselld 8th Jan 18, 7:31 AM
    • 5,497 Posts
    • 5,081 Thanks
    anselld
    • #2
    • 8th Jan 18, 7:31 AM
    • #2
    • 8th Jan 18, 7:31 AM
    Why do you need to remortgage or sell? Why not just sort out your credit record first?
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