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credit rating & remortgaging

edited 30 November -1 at 1:00AM in Mortgages & Endowments
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jennymeg2jennymeg2 Forumite
8 Posts
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edited 30 November -1 at 1:00AM in Mortgages & Endowments

Just got refused for a Nationwide remortgage, according to my credit score I am Fair. I am currently with Santander on interest only so I am keen to get onto a repayment. If I ask Santander for a new deal will this hurt my credit score even more as I've just been refused by nationwide and is there a chance they will refuse me as well even though I already have mortgage with them on variable rate.

Please help, I'm worried. Thanks.


  • ThrugelmirThrugelmir Forumite
    81.5K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    You can overpay your current interest only mortgage without making any "official" changes. Easiest way to do this is set a regular standing order from your bank account.

    This will gradually improve your credit rating as your debt level falls. Enabling you to make a more permanent move at a later date.

    Santander are unlikely to refuse your request to switch to a repayment basis anyway. As this is not a remortgage just a change of terms.
    It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." — George Soros
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