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Mortgage and Bad Credit Rating
lula23
Posts: 44 Forumite
Hello, In may this year i have to give my x partner half of the family home (seperated 10yrs).
He has agreed to take 50k,which im ok about but it meaning selling this house in order to pay him.This means i would keep my exsiting mortgage and down size to a smaller house(2 children left at home)
I have spoken to the halifax but they have refused to allow me to keep my exsiting mortgage,due to having credit problems in the past.At present i have no debts and a credit score of 852,before xmas it was 768.
I have paid the mortgage on my own for the past 10yrs,i so annoyed that now im expected to sell my home and rent !
Does any one have any ideas ?
Thank you for reading
He has agreed to take 50k,which im ok about but it meaning selling this house in order to pay him.This means i would keep my exsiting mortgage and down size to a smaller house(2 children left at home)
I have spoken to the halifax but they have refused to allow me to keep my exsiting mortgage,due to having credit problems in the past.At present i have no debts and a credit score of 852,before xmas it was 768.
I have paid the mortgage on my own for the past 10yrs,i so annoyed that now im expected to sell my home and rent !
Does any one have any ideas ?
Thank you for reading
0
Comments
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What were the credit problems?
How long ago were they?I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Hi
We need to know
What mortgage are you requiring (as in what amount)
What is the new purchase value?
Specifically what adverse credit have you had and when?0 -
Hello, thank you both for your quick replies.
Debts where things like catalgues,and visa cards,phone,gas company.Never missed a mortgage payment.
I dont want to borrow money ,just keep my exsiting mortgage.
Current house worth 210k
X to get 50k
Exsiting Mort 60k
So would look to buy another house for around 150k0 -
And what is your income?
Did you have defaults or CCJs etc? How long ago were they registered?I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Oh yes and it was all paid of 14 months ago0
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WE need specifics on the debts - were they defaults, ccjs, missed payments? What amount?0
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No ccj's or defaults.
Income of 30k but i work part time and a fulltime uni student0 -
mainly missed or late payments, this went on for about 6 yrs till i decided to sort myself out.
Total debts were around 5k0 -
Is that £30k all from your job, or have you included other income i.e. benefits etc?I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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