Remortgaging Help

penny100

Hi, i am acurrently nearing the end of my fixed rate deal and could do with some help. Due to bank charges (my fault i know!) the last 6 months some of my dd's have not been paid. I have no arrears on any of these but am struggling to get out of this mess. I would like to remortgage but is a missed payment calssed as a default or the fact i have paid within ten days and therefore have no arrears with anyone an issue. I am starting to think i need to sell up and move out as the easy option and rent for the foreseeable. I have looke at secured loans but am worried about tie in fees etc

I earn roughly £20000 a year with the ability to earn more and my current mortgage is around £77000 on a property supposedly wrorth £120,000. i would need £10k to clear it all and move on.

Thanks in advance, im so stupid for getting myself in this mess i know:mad:

~Beanie~

So are you looking to borrow an extra 10K on top of your existing mortgage of £77K?

Late/missed payments will definately count against you but you should be able to find someone to take you on. You may have to pay a higher rate though.

If you are thinking of adding £10K of debt to your existing mortgage, this is rarely a good idea, maybe you should hopover to the Debt Free Wannabee board, post an SOA and see if anyone can help.

herbiesjp

Have you got an up to date copy of your credit file?

The information on that credit file will dictate what kind of income multiples you could look at and therefore whether or not you could get an £87k mortgage

What has your current lender said?