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Buying a new house?
john1002
Posts: 985 Forumite
Hi,
I hope the resident experts can help, we currently have a property in the market that looks like it is going to sell, and we have found a nice house but have a few credit blips:
The house is worth 180,000 and we now need 146,000. The original mortgage has run 2 years and its redemption is 113600 due to a high redemption charge. We could wait 18mtnhs but we need a bigger house now. My wife has 2 small defaults totalling less than 400 showed as satisfied and I have a repossession but over 7 years ago due to messy divorce, do you think we can now go main stream or still have to go to poor credit providers which don’t have the same fixed deals that were hoping we can look at.
Any pointers would be worthwhile?
Thanks
I hope the resident experts can help, we currently have a property in the market that looks like it is going to sell, and we have found a nice house but have a few credit blips:
The house is worth 180,000 and we now need 146,000. The original mortgage has run 2 years and its redemption is 113600 due to a high redemption charge. We could wait 18mtnhs but we need a bigger house now. My wife has 2 small defaults totalling less than 400 showed as satisfied and I have a repossession but over 7 years ago due to messy divorce, do you think we can now go main stream or still have to go to poor credit providers which don’t have the same fixed deals that were hoping we can look at.
Any pointers would be worthwhile?
Thanks
0
Comments
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can your existing lender not advance the extra borrowing?I am a Mortgage AdviserYou 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
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Thanks, didnt know they could do that, what are the chances they would look to do a deal on our exsisting rate, dont mind paying more but in the 18mnth left dont want to find we could have got a new deal swallowed the redemption and been better off0
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