Help Needed - Want To Remortgage Have Bad Credit!

Scorpy_2

We currently have a remortgage where we pay £447 a month on a £50,000 loan. We have had bad credit in the past and due to this were not able to go to any hightstreet lender for good rates. However, we desperately need to get our house improved due to a new baby and an overflow pipe leaking onto our lean-to roof making the walls in the kitchen damp. The property is valued at £70,000 approx

We are looking for a remortgage with as much cashback as possible and a low rate of repayment a month.

My husband just recently changed jobs would this be a problem?

Any help or advice on mortgages available to people with bad credit would be very much appreciated.

MortgageMamma

Hi there. I deal with cases such as your own a lot. Don't worry you will be able to get a mortgage, the most important thing is to get expert help. I would suggest you contact a whole of market mortgage broker. What this means is that the mortgage broker has access to every mortgage lender in the UK, and through their expertise and experience, will be able to locate the most competitive mortgage deal available for your circumstances. Some advisors charge fee#s and some don't. So make sure you ask when you first speak to them. You should have written confirmation of charges given to you in a document called an initial disclosure document/key facts document, when you first speak to the advisor. She/he will then run through some questions about your personal and financial circumstances and then go away and make a recommendation for you, they will then submit your mortgage to the lender and help you until completion.

You can speak to a mortgage advisor over the phone or let them see you in your home. Either way the advice should be equally as good. The most important thing is making sure your mortgage advisor is whole of market.

HTH and GL

AND DONT WORRY!

MM

Scorpy_2

MM many thanks for your advice - you are a star but just one more thing are you able to recommend any good mortgage advisors that cover whole of market getting a remortgage is such a minefield of companies and offers We are unable to pay upfront fee's therefore would have to have any fee's added to the mortgage.

But thank you so much for your help

MortgageMamma

Its my pleasure. What area do you live in? If I know any other brokers near there I could recommend someone. You could always ask around friends and family, but not many people know the difference between tied and whole of market so you mght not get what you are asking for,

MM