Moving Options

piedmontboot

Hi


Just wanted to get some thoughts on what we're looking to do later in the year and whether it might be viable.


Currently have a mortgage with Santander 0.99% flexi lifetime tracker. We're looking to move later this year and have been told we could apply for extra borrowing with them at the same rate (!)


however the only problem is my credit history, with the following defaults on my file:
1) Lloyds current account £800 06/2010
2) vw finance £10,600 06/2010
3) capital one £800 08/2012


All were satisfied within 2 months of defaulting, and I have no current debts (apart from mortgage which has been run well since 2010 and credit cards which I clear each month).


I would assume that id get declined by Santander based on the above, but is there a possibility that I may be accepted at 95% with accord? My plan would be to get consent to let on the Santander property and let it out, and start a fresh mortgage with 5 or 10% on the new one.


Any advice would be appreciated!

Thrugelmir

piedmontboot wrote: »

My plan would be to get consent to let on the Santander property and let it out,

On what grounds though? CTL is for a reason , i.e. temporary work abroad. If you intend letting as a business expect to pay BTL rates.

piedmontboot

Thrugelmir wrote: »

On what grounds though? CTL is for a reason , i.e. temporary work abroad. If you intend letting as a business expect to pay BTL rates.

Ive already discussed letting the property with Santander and they're fine with it.


BUMP has anyone else got any advice they could offer? Would be much appreciated!

ethank

Have you told them you want to let, so you can buy.........?

piedmontboot

ethank wrote: »

Have you told them you want to let, so you can buy.........?

Yes that bit is fine, my question is more along the lines of can I get a 2nd mortgage with my credit history?