Remortgage failure.

ocean_3

I have been turned down for a remortgage with extra borrowing due to affordability. I have several loans which seem to be a problem. I intended to use some of the extra borrowing to consolidate these loans, would it have made any fifference to their decision if I had told them this? Also, the company was Bristol & West, does anybody know if their credit scoring is especially strict.

herbiesjp

ocean wrote:

I have been turned down for a remortgage with extra borrowing due to affordability. I have several loans which seem to be a problem. I intended to use some of the extra borrowing to consolidate these loans, would it have made any fifference to their decision if I had told them this? Also, the company was Bristol & West, does anybody know if their credit scoring is especially strict.

Hi Ocean

Indeed it would

As per my other reply to you on your other thread here(http://forums.moneysavingexpert.com/showthread.html?t=296864) - you need to disclose to them all your details, and tell them what you want to do.

I'm guessing you didn't

Before going ahead and getting credit checks run up against you only to be declined, I would suggest you talk to a fee free whole of market mortgage adviser, and let them find a deal for you

If you carry on doing these credit searches against your name, it could cause you problems

HTH