short term remortgage

help?_3-2

hi guys
could anyone with some financial advice credentials
tell me if this is possible?

i am looking to sell my house and move abroad,is it possible to get a remortgage with no ties, my credit history his not very good although my mortgage is up to date.

i am selfemplyed with out accounts

mortgage outstanding £35k
looking to take it to £70k

thanks
harko

ps my lender is the halifax

herbiesjp

Depending on your income and your exact credit credit history/full set of circumstances you should be able to re-mortgage on a no ties deal

help?_3-2

thanks for the quik reply
just to add my house is valued at £130k

my earnings our about £16k

does anyone have a list of lenders who would possibly look at me favourbly
harko

HelpWhereIcan

One option should be to try the Halifax and see what they will offer you on a no ties basis, although this will depend on how long you have been self employed.

70,000 is approx 4.375 x £16000 Not a huge amount of lenders who will do this on a self cert basis (ie you are not able to provide accounts etc).

Your choice will also depend on what you mean by "my credit history his not very good" - is this CCJs and defaults or just a few late payments on a couple of storecards? How long ago?

How long have you been self-employed - do you have any form of accounts/self assessment returns that may prove your income?

A combination of a poor credit history, self certification and the multiple you need will make it tricky to get a 'no ties' deal, but your equity will help things along. I can think of a lender who will probably tie you in for 1 year with a 1% penalty (£700) which is not as bad as some (6% or £4200 is not unheard of).

Because of the number of variables, I would say to get advice and to choose a whole of market adviser preferably through reccomendations from family and friends. Failing that, speak with a couple of firms, making sure to ask the questions that Martins suggests in

http://www.moneysavingexpert.com/cg...101649966,86816,

Hope this helps