Poor credit rating - remortgage

GoogleyPip

Hi

My husband and I have never defaulted on any credit, but due to the high amount of credit we have, we have low credit scores.

We have just had a child and are looking to remortgage to consolidate everything into a manageable repayment.

We need a 80% mortgage and have been refused by our current provider, NatWest.

We joined L&C Brokers and were declined by Santander and Barclays in principle and accepted by Woolwich and Precise but they would not lend the full amount we need.

The repayments are getting harder each month and we seem to be slipping more into debt. We need help but as the broker has given up on us after our last refusal, we do not know where to go.

Any guidance and advice would be gratefully received!

ACG

How much are you looking to borrow?
How much are your incomes?

GMS

How much debt do you have? What sort of interest rates?

If you are struggling to get a remortgage you could consider a second charge secured loan which may save you money.

L&C may not deal with them

Dave_Ham

Slow down, answer the valid questions and we will be able to give you a neutral opinion on whether you are wasting your time or what options you may have.

Stop the searches, but do ensure you keep making the repayments on the unsecured debt as the world gets much harder, very quickly if you do start to miss payments.

You may need a more personal, experienced broker (which you may have to pay for) to achieve a better result.

In your case the fee free may turn out to be false economy. If Woolwich and Santander were not options, how Precise were ever going to lend you enough is beyond me..

All the best