Re-Mortgaging Question/Problem

Oliver.Stone

I have just tried to re-mortgage my house and borrow addional funds for home inprovements but have been refused. We currently have a joint mortgage and I think the reason it was refused was my partner has a poor credit rating. Can I apply for a single application and what does this mean for my partner? I do earn enough to easly cover the mortgage and the total is still less than 80% of the current value of the house. Many Thanks

chesterlandlord

you think YOU are struggling to find a lender.... I only want a 30% LTV and my credit record is A1 PLUS and the greedy sods dont want to play unless I PAY THEM extortionate 'arrangements fees' etc..Good luck anyway

happybroker

you could apply in your sole name but it would mean taking your partner off the deeds to the house which may not go down too well.

what kind of adverse credit does your partner have and how old is it?

Oliver.Stone

She has the CCCS involved so I don't know the full extent of the damage. I have applied for a credit report to try and shed some light on it. I pay for evertyhing as she only has a part time job so didn't think it would be an issue. Thanks

herbiesjp

How much extra do you need to borrow?

Could you get a personal loan for the amount in your name?

Oliver.Stone

I was after an extra 30K but I know that you can only get 25K on a personal loan unless you have any recomendations? I could manage with the 25k as I would just leave out some of the work I had planned.