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mortage advice please
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jaydensrara
Posts: 42 Forumite
i'm hoping someone will be able to give me some advice please.
my husbands disabled due to an accident at work,he received compensation and we bought our house outright,so we've never had a mortgage.
last year we've had a lot of money worries and were wanting to take out a loan against the house.pay everything off and start again.
as we had a late payment on an old bank loan we were put into the collections department of natwest.we are back on track with them now(and are out of collections) but have been told that we stand no chance of getting any type of mortgage or equity loan because of this.
my husbands disabled due to an accident at work,he received compensation and we bought our house outright,so we've never had a mortgage.
last year we've had a lot of money worries and were wanting to take out a loan against the house.pay everything off and start again.
as we had a late payment on an old bank loan we were put into the collections department of natwest.we are back on track with them now(and are out of collections) but have been told that we stand no chance of getting any type of mortgage or equity loan because of this.
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Comments
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How much, how long ago, are you now up to date? if so when from?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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Where is the household income derived from?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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we are up to date on loan,and have 18mths remaining,
we were told that the min we could get if we remortgaged was 25,000 over 20 years.
we applied about a year ago0 -
the household income comes from my job0
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Have a chat with a broker to see what options you have. Dont apply at random to lenders as this may cause more harm than good.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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we applied with hsbc,and were "approved in principal", then we were turned down solely because of this one months late payment0
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HSBC are just about the pickiest lender there is hence my comment about not applying at random.
You may not get the cheapest rates on the market so it is important to find the correct lender for your situation.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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