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
Fixed Rate & want to move
![[Deleted User]](https://us-noi.v-cdn.net/6031891/uploads/defaultavatar/nFA7H6UNOO0N5.jpg)
[Deleted User]
Posts: 0 Newbie
Hi,
Im hoping for some advice before I approach Nationwide.
Im currently on a 5yr Fixed Rate with just over a year to go before it ends.
I would like to move this summer. The problem I have is I have had a CCJ & default since i took the mortgage.
I dont want to increase my lending just transfer my existing mortgage to a new property. Does anyone think this could be a problem or will Nationwide allow me to transfer it to a new property?
Thanks in advance.
Funk.
Im hoping for some advice before I approach Nationwide.
Im currently on a 5yr Fixed Rate with just over a year to go before it ends.
I would like to move this summer. The problem I have is I have had a CCJ & default since i took the mortgage.
I dont want to increase my lending just transfer my existing mortgage to a new property. Does anyone think this could be a problem or will Nationwide allow me to transfer it to a new property?
Thanks in advance.
Funk.
0
Comments
-
My current mortgage is for 79k Prop is worth 140k.
I am looking at props for the same amount.
I do have 30k in savings, which I didn't want to touch for various reasons so could use that if worse came to worse.0 -
Only way to find out for sure would be to apply but I imagine it would be a straight decline with the adverse credit.0
-
anyone else have anymore info?0
-
Depending on how much and when ccj/default occured, you will struggle, I think your only hope would be Nationwide, provided their risk/exposure is not increased they may go for it.I am a mortgage adviser.You 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
-
Thanks for the replies.
The CCJ was in 2007, have just contacted the court to get it set aside.
I think the exposure will be less as I will put more of savings into it and will be borrowing less.
What do you think my chances will be?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