Too soon to re-mortgage??

devmcc

Hi all...
Just looking for some advice from you mortgage boffins out there..
My partner and I have been Self Employed for just over a year - ok so far!!
We bought a house in November for £200K - obtained the mortgage through a broker.. Mortgage is for £146K.
Houses in the road are going for around £240-280K - ours was a bit of a wreck..
I am looking to re-mortgage at some point to add a kitchen extension - probably up to around £170Kish..
We have added quite a bit of value - new central heating & boiler (none before we moved in), full rewire, new fireplaces, new windows to the rear, new bathroom (you don’t even want to know about the old one!), general repair and decoration...
So, finally, my question is - when would be a reasonable length of time to leave before approaching the lenders about the re-mortgage?!?! I don’t want to apply and be turned down and have it on my credit file...
Also, are there any lenders you would reccomend for my predicament?? Thanks a million - as always!!

MissJMac

Hello
I remortgaged 6 months after moving and was fine. I think it is down to your credit file. If that is ok you may be ok to apply..

Mr_helpful

Any time after 6 months is usually ok. i have had people remortgage the day after buying the property at market value after buying below market value. It is easy if theres a genuine reason for the increase in value

MortgageMamma

wardlaw wrote: »

my only questions are if you remortgaged are there any penalties if yoiu do

is your mortgage a self-certification of income as you have been self-employed for a limited period of time and i would suggest yoiu do not have accounts which is not a problem

As an introduction I have been involved with most forms of finance for around 27 years now 11 SPENT WITHIN BUILD9NG SOCIETY MANAGEMENT AND OTHERS AS SCOTTISH MANAGER FOR A MORTGAGE BROKERAGE

I work for mortgage angels a independent national broker who are Appointed Representatives OF Mortgage Intelligence a large Mortgage network with powerful business getting skills

I have access to the whole of the UK market place FOR ALL mortgage Products including exclusive deals for BTL not available anywhere else

If I cannot help, nobody can I admit I cannot always achieve the desired result, but I do work hard to try and achieve it !!

BY THE WAY I CHARGE ABSOLUTELY NOTHING FOR MY PROFESSIONAL SERVICE AS,UNLIKE MOST BROKERS I AM HAPPY TO RECEIVE COMMISSION FROM LENDERS AND/OR LIFE ASSURANCE COMPANIES AND YOU STILL GET THE BEST DEAL IN THE UK WHICH FITS YOUR NEEDS

Kindest Regards



John



John Moray Wardlaw
Mortgage Angels
E.mail [EMAIL="johnmw5@hotmail.com"]johnmw5@hotmail.com[/EMAIL]

Telephone/Facsimile 01463-712-620
M 07813-755521
www.john.mortgageangels.co.ul


making a devil of a job simple

John. not being funny mate but its against forum rules to publish your company contact details and private contact details onto these forums - I know a lot of other forums let you do it but not this one - I'm telling you this because it can get you barred. If you just edit them out of your post, and then pop back into the mortgages and endowments discussion forum, somewhere near the top there will be a "mortgage broker code of conduct" thread by MSE Martin, the site owner. Have a read through it.

It was necessary to bring the code of conduct in as this site is visited by millions, and there were literally loads of mortgage advisers on the forums touting for business at one point and causing trouble. Its against the sites principles to do this, although you are allowed to have your contact details linked to your profile, most advisers choose not to do this for security purposes.

Welcome to the forum by the way,

MortgageMamma :beer:

MortgageMamma

devmcc wrote: »

Hi all...
Just looking for some advice from you mortgage boffins out there..
My partner and I have been Self Employed for just over a year - ok so far!!
We bought a house in November for £200K - obtained the mortgage through a broker.. Mortgage is for £146K.
Houses in the road are going for around £240-280K - ours was a bit of a wreck..
I am looking to re-mortgage at some point to add a kitchen extension - probably up to around £170Kish..
We have added quite a bit of value - new central heating & boiler (none before we moved in), full rewire, new fireplaces, new windows to the rear, new bathroom (you don’t even want to know about the old one!), general repair and decoration...
So, finally, my question is - when would be a reasonable length of time to leave before approaching the lenders about the re-mortgage?!?! I don’t want to apply and be turned down and have it on my credit file...
Also, are there any lenders you would reccomend for my predicament?? Thanks a million - as always!!

Why remortgage at all? you could just approach your existing lender and ask for a further advance, which is a bit like a top up mortgage on your existing one. This way will avoid any early repayment penalties you may hve, is quicker and the fee's will likely be cheaper. Which lender are you with?

keeperbear

wardlaw wrote: »

my only questions are if you remortgaged are there any penalties if yoiu do

is your mortgage a self-certification of income as you have been self-employed for a limited period of time and i would suggest yoiu do not have accounts which is not a problem

As an introduction I have been involved with most forms of finance for around 27 years now 11 SPENT WITHIN BUILD9NG SOCIETY MANAGEMENT AND OTHERS AS SCOTTISH MANAGER FOR A MORTGAGE BROKERAGE

I work for mortgage angels a independent national broker who are Appointed Representatives OF Mortgage Intelligence a large Mortgage network with powerful business getting skills

I have access to the whole of the UK market place FOR ALL mortgage Products including exclusive deals for BTL not available anywhere else

If I cannot help, nobody can I admit I cannot always achieve the desired result, but I do work hard to try and achieve it !!

BY THE WAY I CHARGE ABSOLUTELY NOTHING FOR MY PROFESSIONAL SERVICE AS,UNLIKE MOST BROKERS I AM HAPPY TO RECEIVE COMMISSION FROM LENDERS AND/OR LIFE ASSURANCE COMPANIES AND YOU STILL GET THE BEST DEAL IN THE UK WHICH FITS YOUR NEEDS

Kindest Regards
John
John Moray Wardlaw
Mortgage Angels
E.mail johnmw5@hotmail.com

Telephone/Facsimile 01463-712-620
M 07813-755521
https://www.john.mortgageangels.co.ul

This is hardly a great advertisement for his services. Terrible grammar, spelling and punctuation. On the basis of his writing style, I wouldn't touch his mortgage services with a barge pole.

HypnoTease

Anyone who has to tout for business on an internet forum must be either bad or desperate or both. Anyone who claims to have done a job for as long as he does would be at the top of their tree and not need to do that. Pathetic!

absolutebounder

My Mate went to mortgage angels for leads Spent a fortune and got the biggest load of rubbish going.
However take him up on his quote to get the best deal and if you find another better one sue him as the ASA say you cant use "Best" unless you can back it up. Probably why carlsberg is probably the best lager in the world

Mr_helpful

wardlaw wrote: »

my only questions are if you remortgaged are there any penalties if yoiu do

is your mortgage a self-certification of income as you have been self-employed for a limited period of time and i would suggest yoiu do not have accounts which is not a problem

As an introduction I have been involved with most forms of finance for around 27 years now 11 SPENT WITHIN BUILD9NG SOCIETY MANAGEMENT AND OTHERS AS SCOTTISH MANAGER FOR A MORTGAGE BROKERAGE

I work for mortgage angels a independent national broker who are Appointed Representatives OF Mortgage Intelligence a large Mortgage network with powerful business getting skills

I have access to the whole of the UK market place FOR ALL mortgage Products including exclusive deals for BTL not available anywhere else

If I cannot help, nobody can I admit I cannot always achieve the desired result, but I do work hard to try and achieve it !!

BY THE WAY I CHARGE ABSOLUTELY NOTHING FOR MY PROFESSIONAL SERVICE AS,UNLIKE MOST BROKERS I AM HAPPY TO RECEIVE COMMISSION FROM LENDERS AND/OR LIFE ASSURANCE COMPANIES AND YOU STILL GET THE BEST DEAL IN THE UK WHICH FITS YOUR NEEDS

Kindest Regards



John



John Moray Wardlaw
Mortgage Angels
E.mail [EMAIL="johnmw5@hotmail.com"]johnmw5@hotmail.com[/EMAIL]

Telephone/Facsimile 01463-712-620
M 07813-755521
www.john.mortgageangels.co.ul


making a devil of a job simple

Wardlaw

Mortgage Intelligence set quite high standards for their brokers I think Sally laker (the boss) would have a fit if she saw this post or for that matter your website.

MortgageMamma

Grass him up! whooooooo hoooooooooooooo we've got live one!!

kingkano

Funny thing is, his wardlaw's original post is gone, but there it is quoted about 4 times lol. Might be worth editing your quotes guys.