Please Help ! remortgage advice needed with additional loan

Kirkmor

Hi,

Just opened this forum account so please go easy on me if i get anything wrong !

Myself and my wife and 2 kids have had or house for the last 7.5 years mortgaged with abbey aka now Santander. we had 2 x 2 year fixed rates with them and the associated fee's each time,

My problem is i'm an idiot ! i ran up an unsecured loan currently circa 9k and 2 x credit card circa 10k ! impressive i know and lets say got into difficulties, however recovered myself, only went as far as late payments but not in the last 12/18 months, my mortgage has never missed a payment but santander refuse to give a new fix rate as they apparently 'profile' their customers regardless of credit file/score and i no longer fit their profile. My wifes file is immaculate and mine is good and based on combined wages the online mortgage calcs reckon we can get 30-40k more than we actually want but we seem to get declined. HELP !

Any advise greatfully recieved, i will have a large investment come to fruition in 2.5yrs meaning can overpay the mortgage back down (company share scheme win win situation)

sorry for the wittering spiel just confused wher to turn !

figures, house bought 125k with 20k deposit, now down to 89k and want 105k to clear all debts.....

Dave_Ham

Ok, firstly you did well and lots of relevant information provided.

I would suggest this is achievable, subject to a few variables and careful lender consideration.

What is your house approximately worth now?

Are you certain none of your unsecured creditors put a default on your credit file?

It will be transparent on your file and prudent to get your Experian, Equifax and Call Credit files as not all lenders use the same ones and therefore you could have inconsistent information recorded.

Stop trying directly as multiple credit scores will not help your situation.

What lenders have you been declined from so far?

Kirkmor

Hi, house worth between 116 and 135 according to recent sales on street, an old friend is a IFA bit came out of mortgages last year but offered to pass me on to a frie d is this the way forward ? Equifax file all green I see it monthly and post office knocked me back last night that's the only one I did myself after santander said no, bit santabder didn't score us

Dave_Ham

A recommendation is always a preferred route, although would be checking that the broker can do what is required.

Many lenders will limit borrowing for debt consolidation to 85% loan to value, although most will provide the valuation free of charge and therefore you do not run a huge risk if valuation was an issue.

As I think I said earlier, well worth getting your Experian, Equifax and Call Credit as they often hold inconsistent data.

All the best