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!
Looking for advice on brokers/lenders re debt consolidation remortgage
Clayface79
Posts: 1 Newbie
Hi
My partner and I are currently trying to remortgage but have been unimpressed with our broker so thinking of trying elsewhere.
Our situation is as follows:
property valued at 160k, current mortgage of 102k
We have completed an extension on the property which has added to our existing debt giving a debt total of 20k, hence wanting to remortgage to clear.
We are currently with Nram so no chance to get a new deal with our existing lender. Looking to take out a new 25year mortgage at 80% LTV. ( both 36yr old)
Partner is self employed with average of the last 3 net profits of 28k, I earn 8k. No defaults, but partners credit is listed as 'fair' due to the high level of debt. We have a car and van on HP too.
Our broker didn't seem to think the debt would be an issue and applied to the 2 lenders with the best rates who both said no. He then said he would try the Halifax as they would be more suited to our circumstances ( so why didn't he try there first?) Communication has been a problem, with me constantly chasing things up with the broker and I'm rapidly losing faith.
So, could anyone give any advice of any lenders I could approach directly given our financial situation, or alternatively an online/ phone based broker I could try?
Thanks
My partner and I are currently trying to remortgage but have been unimpressed with our broker so thinking of trying elsewhere.
Our situation is as follows:
property valued at 160k, current mortgage of 102k
We have completed an extension on the property which has added to our existing debt giving a debt total of 20k, hence wanting to remortgage to clear.
We are currently with Nram so no chance to get a new deal with our existing lender. Looking to take out a new 25year mortgage at 80% LTV. ( both 36yr old)
Partner is self employed with average of the last 3 net profits of 28k, I earn 8k. No defaults, but partners credit is listed as 'fair' due to the high level of debt. We have a car and van on HP too.
Our broker didn't seem to think the debt would be an issue and applied to the 2 lenders with the best rates who both said no. He then said he would try the Halifax as they would be more suited to our circumstances ( so why didn't he try there first?) Communication has been a problem, with me constantly chasing things up with the broker and I'm rapidly losing faith.
So, could anyone give any advice of any lenders I could approach directly given our financial situation, or alternatively an online/ phone based broker I could try?
Thanks
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.4K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.4K Work, Benefits & Business
- 601.2K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards