Re-Mortgage Advice For Bad Credit

lavster

Hi All, My partner split with her boyfriend in 2005 and they own a house (which she still lives in). Although they are on good terms he now wants to buy a new property with his current partner and she wants to rent out her house and me and her are looking to get somewhere. She is looking to take him off the mortgage and re-mortgage it on her own. She doesnt want to take any capital extra just enough to remortgage it and fix a deal for 2/3/5 years. The only problem is, when they broke up in 2005 she struggled to pay the mortgage on her own and got herself an overdraft which she had trouble paying back. She never missed a mortgage payment but defaulted on the overdraft. Her credit score is 220/500 on equifax. Do you know if it will be possible for her to re-mortgage based on the fact she has never missed a mortgage payment and has been comfortable for the last few years on her own?

Thanks

_Andy_

Not enough info to go on

Property value (realistically)?
Mortgage amount?
Income?

Conrad

Is she on £100k pa or £5k pa, does she want £25000 or £1m???????

lavster

Sorry for not giving enough information.
she is on 23500
the house is valued at 88,000 but realisticly its probably between 75-78.
the mortgage amount left is 64,000.

hope this is ok.
and thanks for your response.

Thrugelmir

Why not sell the property?

As she would not meet the criteria for a BTL mortgage.