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how can i re-mortgage with bad credit?
daisychain43
Posts: 4 Newbie
Hi,
I am new to this site and would really like to ask for some advice please?
My husband and I have almost completed a renovation of a steading, (barn in England
We have an interest only mortgage, to keep the payments down whlew e complete our project. However, we are struggling with completing as we now have no savings left and as my husband was made redundant earlier this year, all redundancy went into project, he had to take a lower paid job.
We don't have a good credit rating due to late payments being made.
Can anyone advise me on how best to go about getting a more affordable mortgage which would also release some calateral on the property?
Many thanks!
I am new to this site and would really like to ask for some advice please?
My husband and I have almost completed a renovation of a steading, (barn in England
We have an interest only mortgage, to keep the payments down whlew e complete our project. However, we are struggling with completing as we now have no savings left and as my husband was made redundant earlier this year, all redundancy went into project, he had to take a lower paid job.
We don't have a good credit rating due to late payments being made.
Can anyone advise me on how best to go about getting a more affordable mortgage which would also release some calateral on the property?
Many thanks!
0
Comments
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Not enough info to go on
What is the property value?
How much do you owe?
How much extrra do you want to borrow?
how are you intending to repay the capital?
Income?
Specifics on the adverse credit.
What interest rate are you on currently0 -
Hi Andy,
We owe approx £11,000 on two cards, don't have any arrears on mortgage.
we need approx £15,000 to complete the renovation.
Hope this is this enough info?
Thanks0 -
sorry, debt is now £8,000, forgot we paid off the other card!
bad credit is relating to late payments, but never been late with mortgage0 -
mortgage of £190,000 property value approx £300,00 now and £380,000 on completion, these are estimated amounts.0
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so, is there any income?Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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