Living with partner in flat on his mortgage can't remortgage he has poor credit score

jadex91

I live with my partner and we live in a flat that he has on a mortgage, his exes name is on the mortgage so we tried to get her removed but as they both have a low credit score they said she can't come off! We tried to get a completely new mortgage as we would like a house, but no where would accept us... Any ideas???:cool:

kingstreet

Presumably you want help with the purchase, not with a transfer of equity to remove the former partner?

Is the current property being sold?

How much equity/deposit will be available for the new property and what's the likely purchase price?

jadex91

kingstreet wrote: »

Presumably you want help with the purchase, not with a transfer of equity to remove the former partner?

Is the current property being sold?

How much equity/deposit will be available for the new property and what's the likely purchase price?

Yes just want help with a new purchase! The property ant currently up for sale and it won't be until we know we can get somewhere else. We think this flat will be about £110,000 so not sure about the deposit, partner said he'd like to just rent this out as more income but then we'd have no deposit money !
Thanks

kingstreet

Is there adverse credit, such as defaults, judgments, poor account conduct or mortgage arrears, or is the credit score issue more about lack of credit?

Assuming it's the former, I can see a minimum 20% deposit needed, possibly more, depending on the severity.

You need to get hold of all three of your statutory credit files;-

Equifax

https://www.econsumer.equifax.co.uk/consumer/uk/order.ehtml?prod_cd=UKSCR

Experian

http://www.experian.co.uk/consumer/statutory-report.html#orderReport

CallCredit

https://www.callcredit.co.uk/stat-report-online/index.php?action=basket_add&tpl=setRegister&package=63&amount=1&mode=clear

Which you should take along to a meeting with a good independent or whole market mortgage broker. Ask friends and relatives for a recommendation. Failing that, use https://www.unbiased.co.uk remembering to switch off "sponsored ads only" option so you get a full list, not just the paid-for adverts.

The £2 statutory paper files will be fine. Avoid online schemes you have to pay for which give you your inside-leg measurement and call it a "credit score" as this is different to the lender's, the one which actually matters to you...

jadex91

kingstreet wrote: »

Is there adverse credit, such as defaults, judgments, poor account conduct or mortgage arrears, or is the credit score issue more about lack of credit?

Assuming it's the former, I can see a minimum 20% deposit needed, possibly more, depending on the severity.

You need to get hold of all three of your statutory credit files;-

Equifax

https://www.econsumer.equifax.co.uk/consumer/uk/order.ehtml?prod_cd=UKSCR

Experian



http://www.experian.co.uk/consumer/statutory-report.html#orderReport

CallCredit


https://www.callcredit.co.uk/stat-report-online/index.php?action=basket_add&tpl=setRegister&package=63&amount=1&mode=clear

Which you should take along to a meeting with a good independent or whole market mortgage broker. Ask friends and relatives for a recommendation. Failing that, use https://www.unbiased.co.uk remembering to switch off "sponsored ads only" option so you get a full list, not just the paid-for adverts.

The £2 statutory paper files will be fine. Avoid online schemes you have to pay for which give you your inside-leg measurement and call it a "credit score" as this is different to the lender's, the one which actually matters to you...

Thank you, he was out of a job for three months a few years ago so missed a few mortgage payments, and he does pay all on time now however he does pay weekly on standing order as he gets paid weekly. He did owe money but he got ppi money back and paid off debts. Thanks