Flat's too high to remortgage!

moneyworried_2

I need to consolidate some debt and have recently come out of a fixed rate mortgage. I'm self-employed and although the variable rate is good at the moment I'd like the security of a longer term fixed rate deal .

I own a flat which has gone up in value since I bought it and have a mortgage with HSBC

Because of my debt my credit rating is not the best

I'd like to remortgage to clear my debt but the flat is on the 17th floor, is ex-Local authority, made of concrete in the 60s and still has council tennants in it - no one... NO ONE will remortgage me.

HSBC have now said they won't lend at this height... but were happy enough five years ago.

It's also proving tough to find a secured loan. Does anyone have any advice or can point me in the right direction? I've already tried the brokers on this site.

mij544

I did a mortgage for a client on the 13th floor with Abbey for intermediaries a couple of months ago.

You are more likely to have issues though because of the fact that you are self employed and have had credit issues, so I would run a credit report off from Experian first just to see what you are up against.

You might find though that if you cannot obtain a mortgage elsewhere, you might be able to fix the existing loan again with HSBC if you don't ask for more which may help a little.