Little help and advice needed

charile

I currently have a self cert joint mortgage with my partner. We took this mortgage out about 7 years ago and was only allowed to have the mortgage set at 7 years due to my partner will be 65 when the mortgage ends. So we took out the mortgage for the house we lived in now 7 years and it was a interest only has we did plan to do it up and sell it on but we like it that much we stay. So now i have had letters from mortgage company asking about our investment and provide proof that the £77,500 can be paid at end of July this year. So since we didnt have anything i rang them up and explain it all to them and asked about a remortgage with them just in my solo name has i am 33yrs old. They turn round and said they dont sell mortgages directly to customers anymore and i have to find my own mortgage broker to get the mortgage with them. I am 100% upto date with payments and have never being behind or missed payments. Can they just refused point blank like they are doing to give me any help in keeping our home.
Any help would be useful. Also i cant just go anywhere for a mortgage has i have a outstanding loan which hasnt being pay for since november 2009 so i have this only against me on my credit report but was hoping to relaese some money to pay this loan and can start a fresh again. I have try other places but 1 wanted £3000 in fees alone and another i had to pay the mortgage directly £1500 instead of it being added to the mortgage.

So help and advice is really needed.....Please.....:)

opinions4u

All they are doing is asking you to comply with what you signed up to do.

One option you have is to sell up and rent.

charile

I know that is what i have to do at the end of the mortgage deal, but my question really is i have asked them for help and they cannot give me any advice or help about keeping my house. The lady says " we dont do mortgages to public anymore" and i explain "the deal is up and is their any help they can provide me to keep the house" she said i cant help you, there is nothing we can do for you", then she says "sorry but if that is all bye".....

Dave_Ham

The issue is not the mortgage, its the fact you have a loan you have not paid for and therefore your credit is shot. Maybe I misread this but unsure how someone else has got you a mortgage no matter how expensive....!

How much is the house worth and is the mortgage joint?

charile

The current mortgage is joint names but i am after getting a remortgage in my name only. We own £77500 on the mortgage and the property is worth £110,000. I was hoping that the guy who got us the 2 different new deals he cant get the equity i need to pay off the loan has i see it has if the house is in my name only and the loan company find out they can come for the house has i just owned it and not in joint names (if that is clear to you,if i havent confused you.lol.) I can and being told by the Natwest i can have a mortgage of about £90,000 on my own but they cant help me due to credit.

charile

I just though i add that i have a very good credit score which is on experian credit file of 924 in Febuary 2012. It was at 458 in 2009. I did have about 6 or 7 bad debt in 2009 but paid all but 1 off in 2010. I thought i might be in a good position due to the such of high score but i presume wrong has they dont take the score in consideration.

Gonzo33

What has happened with the outstanding loan? Is it in default? I assume so given the fact you say you have paid nothing towards it since 2009.

charile

The outstanding loan is defaulted has this was is at £6450. I only got money for £7500 which i only had about £1500 left after paying all the other debt which i got behind on even the council tax had me in thier office before they issue court orders and i borrow money from family to help me though. Me and husband was basiclly on the rock bottom of the sea bed and i was very ill due to this stress. But i do wonder if i should go bankrupt and clear all debt or shall i just leave the mortgage to run out and let then put a reposseion order against me. Not sure which would be the best option, i dont like running away from debt but i cant keep going on like this. I thought remortgage and pay the loan off but it is hard to get a mortgage.

Thrugelmir

Sell the property and rent. By doing so you'll get rid of the stress and worry.

Going bankrupt etc. Will only damage your credit record further and is only going to hurt you no one else.

charile

Thats what i thought has it has to go though a auction now and had valulations of £90,000 but my boyfriend/husband doesnt like to do that. I would prefer to do that has i get all debt paid and upto date and i can always apply for new mortgage when the market gets abit better if it does that is
Cheers guys for all help and info....