Advice Re ReMortgage

Edith14

I wonder if you can provide some advice on the following please:-

What would be the chances of being accepted for a remortgage on the following:-


House worth £195,000 - £200,000
Current mortgage £128,000
Want to borrow £150,000 for house improvements and consolidate a loan taken out for house improvements


Joint monthly take home pay £3494.83
Both permanent
1st annual income is £34489
2nd annual income is £17,500


Monthly house bills & food £728
Essential living cars, insurance etc £695
Mortgage estimated £800 per month
Remaining monthly income £1270


Now I have £7500 on credit cards which I pay on time and I pay out £250 a month which my partner not aware of and if possible I want to keep it that way as managed to so far and don't want to concern him as my debt from a previous relationship (do mortgage brokers have to disclose this debt to him when signing any papers if remortgage accepted).


Can you let me know with credit card taken into consideration whether we would be accepted for a remortgage as looking at the current deals and consolidating the loan for house improvements we are saving about £400 per month as our current mortgage payment is £930 per month and loan payment is £290 which would be gone as part of remortgage. Therefore if interest rates go up then this £400 would cover it.

Many thanks in advance for your assistance in this matter.

amnblog

This sounds do-able.

If you drive the remortgage process the details about your credit card need not get back to your partner. Be aware that some lenders and brokers may provide you both with a copy of the application as part of their process.

Use a discreet broker.

Thrugelmir

amnblog wrote: »

Use a discreet broker.

That are happy to put their personal reputation on the line. for a small amount of commission.

Edith14

A question for the Brokers on this site .

Is this a common thing where partners do not disclose all to the other half? Just the problems it would cause if iI did and I have it under good control and have for a few years. If it won't affect the amount we can borrow by me having decalred it to the broker then I'm hoping they'll not say anything (even if he is the driver in the application). Can anyone recommend any commission only brokers in the Leeds area? (if you are able to)

many thanks in advance

amnblog

So you want a broker who will be discreet about your debt, but you do not want to pay that individual.

Edith14

Never thought of it that way....

Would they come to an arrangement with me only to pay them? How much would it normally be?

Sorry new to this, so unsure