Low credit score

bec0609

Hi, please can someone give me some advise. My partner and I currently have a mortgage and the 3 year fixed deal is about to expire, the mortgage company have told us we have to go on a variable rate and they will not offer any more options to us as they have stoped giving mortgages, these were originaly Prefered Mortgages, then they changed to Capstone and now have been taken over by Acenden. My partner has a low credit score of 485 and only 1 star rating as he had lots of loans consolidated into one arranged payment by Gregory Pennington, they then pay the companies for me, Lloyds TSB are the only one who keep putting default everymonth, but this loan will be here for another 15 years, is there anything we can do to stop them putting this as the arranged amount is being paid each month so it shouldnt be defaulted. I myself have a crediit rating of 4 stars out of 5, but no other mortgage company will take us on with my partners credit, so we are stuck with this company and its ridiculous rate of approx 9%. Help please any advise we seem to be stuck.

BugsyBrowne

bec0609 wrote: »

Hi, please can someone give me some advise. My partner and I currently have a mortgage and the 3 year fixed deal is about to expire, the mortgage company have told us we have to go on a variable rate and they will not offer any more options to us as they have stoped giving mortgages, these were originaly Prefered Mortgages, then they changed to Capstone and now have been taken over by Acenden. My partner has a low credit score of 485 and only 1 star rating as he had lots of loans consolidated into one arranged payment by Gregory Pennington, they then pay the companies for me, Lloyds TSB are the only one who keep putting default everymonth, but this loan will be here for another 15 years, is there anything we can do to stop them putting this as the arranged amount is being paid each month so it shouldnt be defaulted. I myself have a crediit rating of 4 stars out of 5, but no other mortgage company will take us on with my partners credit, so we are stuck with this company and its ridiculous rate of approx 9%. Help please any advise we seem to be stuck.

You need to check your equifax or experian credit report as these two are the biggest CRA's that nearly every lender use.

You now being financially linked to your husband now means you will struggle to get credit yourself as his credit rating is bad as you said,also take no notice of the 4 stars as that means nothing by the way, the only comapny I know give stars are call credit which only about two lenders use them.

I know this has not answered your question but thought I would share this with you.