mortgage advice

jack_weld

evening all,

was after a bit of advice? i took out a fixed rate mortgage 3 years ago (santander) which has now ended and am on the standard rate, currently owing £85,000

when took the mortgage was on £25k a year and 55% LTV had no problem getting the morgage,

now work has since reduced hours to part-time, so on £16k a year, but took in a lodger at £4,200 a year so am financially ok-ish, can cover costs and actually prefer the reduction in hours, but,

now looking to re-mortgage and cant get a standard mortgage to cover the £85k and no one takes into account the additional £4.2k

wondered if a 'buy to rent' or a 'rent to buy' would be advisable, or if anyone has had a similar experience and could advise how they got something more secure?

thanks in advance

Thrugelmir

Keep chipping away at the mortgage. As to remortgage would be nigh impossible in your situation. The alternative option is to consider what Santander have to offer, As this will not involve a credit check.