need help in raising £20,000 have a property

suzannefozzy

Hi
I have a property and I am trying to raise £20000 after my divorce but have found that ex husband has given me bad credit check when I looked at reports with experian, credit call and equifax the best report was experian . I am at moment going through motions to sort as addresses are wrong fraud as been committed in changing of address and change of names on accounts.ccjs etc

I would consider remortgage as went to bank I am with and they said no Halifax she showed me everything on report. so I know what to deal with . the money is to buy second home so can rent this one as going to live in ireland. All packed ready to going just last hurdle help time not on my side.:(:(

can anyone help

BitterAndTwisted

If your own bank won't lend you the money due to your trashed credit-record then I suspect other lenders won't either.

Under the circs the idea of buying a second home and letting the current one is not sensible. Sell up and buy where you want to be living.

TBagpuss

If there has been fraud, then you need to ensure that this is logged with police, and that you request that the relevant finacial institutions investigate it as fraud and that they update the records which they submit to the creidt reference agencies.

You can add a Notice of Correction http://www.experian.co.uk/consumer/faq/AR5.html to your record. AS your post is not very clear, I would suggest that you ask someone to help you with this, or at least to proof read it for you, so that it is clear and understandable.

If you are divorced and have no bank accounts, loans, mortgages etc in joint names with your ex you can also add a notice of dissociation to flag up that you are no longer financially linked to him.

All that said, your best move may be to stay put for now, make sure that you pay your mortgage, credit cards and bills on time, and re-try in another 12 months. If there has been fraud then once this has been investigated your creditworthiness ought to improve, and in the mean time, paying everything on time for a period will improve your chances.

If you can't wait, then selling the house and starting fresh in Ireland is probably a better bet. You should probably speak to a mortgage advisor there to find out whether you are likely to be able to get a mortgage right away, or whether you will need to rent to begin with.