We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
'Poor' Credit affecting remortgage application
smoggrid
Posts: 1 Newbie
Hi,
Does anyone have any advice for me. I have just applied for a remortgage with ING and was refused. They advised me to check with experian about my credit history. I have done this and see that my credit rating is "poor". When I asked why they were not specifc but said it is because I have a high level of debt and 2 late payments (these were due to a mess up with a direct debit). So now I'm not sure what to do. i dont want to do another application as it just adds to the risk of making my credit history worse, but my debt level is only high as I have 3 B2L mortgages. The purpose of the remortgage was to consolidate some debts and release some of the equity on a property. Does anyone have any advice on mortgage companies more likely to give me a remortgage. I'm not even looking to increase my overall debt. I am employed in long term employment also.
Thanks SM
Does anyone have any advice for me. I have just applied for a remortgage with ING and was refused. They advised me to check with experian about my credit history. I have done this and see that my credit rating is "poor". When I asked why they were not specifc but said it is because I have a high level of debt and 2 late payments (these were due to a mess up with a direct debit). So now I'm not sure what to do. i dont want to do another application as it just adds to the risk of making my credit history worse, but my debt level is only high as I have 3 B2L mortgages. The purpose of the remortgage was to consolidate some debts and release some of the equity on a property. Does anyone have any advice on mortgage companies more likely to give me a remortgage. I'm not even looking to increase my overall debt. I am employed in long term employment also.
Thanks SM
0
Comments
-
This scenario should not really be causing any problems
There will be plenty of lenders that could help, as your scenario is very common
Don't worry about ING - there is no black mark left on your credit file, and one credit search will not harm any other applications
HTHI 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
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.8K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.4K Mortgages, Homes & Bills
- 178.2K Life & Family
- 260.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards