How does credit score affect remortgage?

abitrubbish

I am considering remortgaging with ING and switching to interest only. However, I know my credit score is not as good as it was when I last remortgaged and don't want to risk a rejection. So I'm looking for some guidance as to how much of an impact the following might have with an application:

1. A couple of late payments on the mortgage (dd bounced first time then went through when they tried again a week later). No missed payments or arrears.

2. Quite a few searches in the last 6 months (4 credit cards and a current account) the last of which was rejected due to low credit score, presumably due to the number of searches. My actual or available credit have not increased, I have just been doing a reorganisation exercise to reduce rates.

3. My income has, or will soon, substantially increased (i accepted the job yesterday). Presumably they will need proof of income so I need to wait until I get my first payslip before applying?

4. It will be a joint mortgage, OH has a good credit rating as far as I know, he has made 1 cc and 1 current account (joint) application in the last few months.

5. The property is a second home, not let. It is our only mortgage (main home rented from employer). Previous mortgage applications have gone through as a main residence I think, but have needed to speak to someone to approve this rather than going through online.

Any thoughts/advice?

sarkin

You will need a perfect credit score to remortgage with ING as they have some of the better rates. Best thing to do is get a copy of your credit file before you apply, you will then be able to see what is recorded.