We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Move Home - Bad Credit
h0memove
Posts: 2 Newbie
Good Evening Money Spinners!
After the recession kicked in, my credit rating went down the pan. I've defaulted on numerous credit cards and haven't made payments towards several of them for over a year.
I own two properties and have kept up the payments on both, never being late with either payments. I'm wanting to move home, not necessarily to a more expensive property. Is this possible given that I won't be wanting to borrow any more money? Only move my mortgage to a new property. My main property is worth £250,000 and I have around £100,000 left outstanding on my mortgage.
After the recession kicked in, my credit rating went down the pan. I've defaulted on numerous credit cards and haven't made payments towards several of them for over a year.
I own two properties and have kept up the payments on both, never being late with either payments. I'm wanting to move home, not necessarily to a more expensive property. Is this possible given that I won't be wanting to borrow any more money? Only move my mortgage to a new property. My main property is worth £250,000 and I have around £100,000 left outstanding on my mortgage.
0
Comments
-
Good Evening Money Spinners!
After the recession kicked in, my credit rating went down the pan. I've defaulted on numerous credit cards and haven't made payments towards several of them for over a year.
I own two properties and have kept up the payments on both, never being late with either payments. I'm wanting to move home, not necessarily to a more expensive property. Is this possible given that I won't be wanting to borrow any more money? Only move my mortgage to a new property. My main property is worth £250,000 and I have around £100,000 left outstanding on my mortgage.
You should speak to yoru current lender and see if they will allow you to port the mortgage to a new property.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 -
Is this something that many high street lenders do? I'm with Halifax at the moment.0
-
Depends on your particular deal but it is something most would do.
Call and ask, or check your original mortgage offer.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
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.9K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.5K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards