need to remortgage - have bad credit :(

trouble-need-help

yes, pre-tax profit

Thrugelmir

trouble-need-help wrote: »

downturn in business is now over and predicting £35-£40k for 20/11 (on target first 6 months)

Business is unpredictable just like life.

Better to have a manageable committment than have everything on the line all the the time.

So I would stick by my previous comment.

trouble-need-help

thanks everyone for your input.

so then, the plan:

sell house 200k
pay off 135k mortgage
pay off 25k loan

use £40k as deposit for new (smaller, cheaper) house, am i likely to get a new mortgage with a 40k deposit and the incomes as suggested above?

beecher2

Selling up and renting until you have 3 good years accounts might be an idea?

Wh05apk

beecher2 wrote: »

Selling up and renting until you have 3 good years accounts might be an idea?

Most lenders only require 2 years accounts.