Remortgage Advice

clare170580

Hi

Just wondering what my chances are of getting a remortgage and which lender may be the most lenient? Got a fair credit report. House is worth 85000, mortgage outstanding is 48000 and i would like to remortgage for 60000. I work full time and earn 28,000 per year. I salary sacrifice for a car - will this affect my earnings for my application purpose??

Any advice will be greatly appreciated.

Thanks in advance!

_Andy_

Why does the lender need to be lenient?
Could you clarify about your credit history - any adverse (and if yes, specifically what)

clare170580

Andy

13 accounts marked 0
3 settled from 2010
1 default that was satisfied in 2010
1 late payment 8mths ago

No balance on a credit card as I've just paid it off
I hold 2 active catalogues with a combined balance of 1800

I say lenient cos I may not have the perfect credit file - but I don't think its that bad but am desperate to get a remortgage to finish home improvements and just would rather go with the one that would be most likey to accept me if at all....

Thanks

Clare

Dave_Ham

If settled in 2010, when was the default registered - will tell you on Experian/Equifax which it sounds like you have already.

Other things being equal, I would be confident of obtaining a mortgage in this situation on high streets rates.

There are so many other variables to know before I would select a lender, as I would do a full fact find before even talking lenders with a client..

That said, some friendly information; Given these circumstances my opinion is that you would want to steer clear of HSBC, First Direct, Nationwide and Accord as they are amongst the strictest lenders.

I always say I am biased, but go and see 1 good mortgage broker and let them do the work for you.

Goodl luck

clare170580

Hi Dave

Thanks for your reply - defaulted in 2008 and marked as settled in 2010.

CLare

Dave_Ham

Other things being equal, I would expect a decent mortgage broker to be able to place this with a highstreet lender.

That said, would not fancy you going it alone on a lenient lender as I would feel more assured if you had the credit file checked first.

Its outside the short term on the default date, good salary and good deposit - should think this would be straightforward..


All the best