We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
re-mortgage advice needed
dave9616
Posts: 9 Forumite
I have recently come out of an IVA (October 2013). I have been trying to get a re-mortgage but with my history this is proving harder than I was led to believe 5 years ago. Some lenders say I may qualify in 3,6,12 months but with the increase in interest rates on the horizon I feel it is essential I re-mortgage as soon as possible
CAN ANYBODY HELP?
CAN ANYBODY HELP?
0
Comments
-
Sorry, not enough information provided to get a sensible opinion.
How much is your current mortgage, current property valuation?
Is your employment fair for the type of mortgage required.
An IVA is a serious credit issue and slightly less severe than bankruptcy. It was and is never going to be easy to refinance with such a serious credit issue on your credit file.
This could still be possible, but is certainly not a given.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Are you still within six years of its start date?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
-
Much has changed in the past 5 years. What options has your current lender offered you?0
-
It could be possible to place tomorrow but without knowing a lot more info it really is impossible to say.
How much is your income,
How much is the expected purchase price,
How much is your deposit,
The general rule of thumb is the bigger the deposit (as a percentage) the easier it will be. I would not look at this unless you have somewhere in the region of a 25-30% deposit otherwise you probably are looking at a year or 2 down the line.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.8K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.8K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards