L & C not responding... can anyone advise on eligibility please?

muddymouse

Hi

As my title says, I have contacted London and Country brokers about the possibility of remortgaging but that was two weeks ago and they haven't been back in touch. I have sent a couple of emails asking for an update, but still no reply. So, it looks like I will need to find an alternative (probably a small local broker after this experience) but I just wanted to check whether I am likely to find anyone to help.

Basically, I want to remortgage the house that my ex-husband has been living in for the past 7 years since our divorce. My name has remained on the joint mortgage for that time, but now he is going to move out, I am going to move in, and hopefully remortgage to give him this share of the equity (he never gave me my share, we weren't due to do this until the youngest child reached 18 in 3 years time).

So this is my situation:

Single, employed full time (same employer for 4 years), been living at the same rented property for over 3 years. Income of £28,000, 2 children who are still dependent, and no debts.

However, my situation only improved when I gained full time employment last year, so I did have some credit issues prior to that. I have no defaults or CCJs but I did have two arrangements to pay that ended last year. Both were for around £1000, one to a mail order catalogue, and one to a pay day loan company (stupid I know). The former was cleared in Oct 2012 and the latter in Dec 2012. I have kept the catalogue open and just spent a small amount which I pay each month, so I now have 4 months of on time payments on this account.

In addition, I have some late payments to British Gas from 2011. They show as 3 months in arrears on Experian, and 6 months with Equifax. This happened when I changed suppliers and had to make an arrangement to pay the outstanding amount.

I have two credit builder cards, opened 6 months and 2 months ago. Both are paid in full and on time every month. In addition, I have a home phone with O2 and a mobile with Orange, which both show on my account. O2 is up to date but I have several late payments with Orange from 2012, but none since Aug 2012

I want to borrow approximately 77,000 on a property of valued at 110,00. This includes 30K for outstanding mortgage, plus 40K for ex's share, and a little extra to put in double glazing and a new bathroom (both desperately needed).

Can anyone advise on my chances? Is the reason that L & C are ignoring me because they don't think anyone will help?

Thanks in advance.

ACG

Could be possible, it would have been better had you not opened the most recent card i think as it would have done more harm that good but i would be surprised if thats the deciding factor.

Get all of your credit files - equifax, experian and call credit and go and see a broker. There is a good chance that this can be done. Im not sure why L&C are not contacting you, it doesnt bode well that your chasing at such an early stage but hey ho thats their loss and a new brokers gain.

I do think you will need a broker for this though.

muddymouse

Thanks ACG

Yes, I would never have applied for the most recent card if I knew that my ex would want to move so soon. I opened it with the aim of improving credit so I was in a good position in 3 years.

It's good to hear you think it might be possible though. Don't suppose you could recommend a good broker in the West Yorkshire area?

muddymouse

Could anyone recommend a good local broker please? There's so many, I don't really know where to start!:eek:

ACG

I think there is a broker on here from the north east, im surprised they havnt PM'd you.

Alternatively you can just do a search on google.