any chance??

londong

hi guys

very stressed out right now, so Im really hoping some of the experienced brokers on here might be able to put my mind to rest a bit

our situation is as follows and we need to remortgage soon - we dont have the option of simply staying on svr as we basically need to take my sisters name off the mortgage and add my husband on (sister is buying property of her own now) so will be full application

house value is approx 290k, mortgage required 128k

me: salary 30k, no debts, account in credit. clean credit report.hav credit card which is paid off in full when used.

husband: salary 21k, no debts, account in credit.no credit card. awful credit report with 7 or 8 defaults all satisfied- default dates are between 2012 and 2014 but one is 2015.

plus he has pay day loans on his report also from few years ago (settled). Reason for all the defaults is complicated as some of it was due to ID Fraud, but he ended up paying them as we couldn’t prove the id fraud – long story. But his report is what it is.

we have 2 kids but no childcare costs/fees.

my sister is adamant she wants her name off the mortgage - but I dont see a way to add my husband on with his credit rating the way it is? and I cant take it on solely in my name as I dont earn enough

i know we will need a broker but are there any lenders who would even entertain this?

very confused!

Thanks in advance for any advice

gcorking

Do you have parents? I know that Barclays and the Co-Op offer Parental guarantors but that sound a bit brutal if you can't keep up payments. I would advise ringing the Money advice service, was very helpful for me

I'm actually in a similar situation to you, girlfriend has excellent credit, but mine is only fair. How bad is his credit score?

amnblog

gcorking wrote: »

I would advise ringing the Money advice service, was very helpful for me

That's a first!

amnblog

Manageable in all probability, but I suspect you wont like the rate -consult a broker.

Pixie5740

gcorking wrote: »

I'm actually in a similar situation to you, girlfriend has excellent credit, but mine is only fair. How bad is his credit score?

There's no such thing as a universal credit score. There's only scores made up by the likes of Experian who don't lend money.

libf

londong wrote: »

hi guys

very stressed out right now, so Im really hoping some of the experienced brokers on here might be able to put my mind to rest a bit

our situation is as follows and we need to remortgage soon - we dont have the option of simply staying on svr as we basically need to take my sisters name off the mortgage and add my husband on (sister is buying property of her own now) so will be full application

house value is approx 290k, mortgage required 128k

me: salary 30k, no debts, account in credit. clean credit report.hav credit card which is paid off in full when used.

husband: salary 21k, no debts, account in credit.no credit card. awful credit report with 7 or 8 defaults all satisfied- default dates are between 2012 and 2014 but one is 2015.

plus he has pay day loans on his report also from few years ago (settled). Reason for all the defaults is complicated as some of it was due to ID Fraud, but he ended up paying them as we couldn’t prove the id fraud – long story. But his report is what it is.

we have 2 kids but no childcare costs/fees.

my sister is adamant she wants her name off the mortgage - but I dont see a way to add my husband on with his credit rating the way it is? and I cant take it on solely in my name as I dont earn enough

i know we will need a broker but are there any lenders who would even entertain this?

very confused!

Thanks in advance for any advice

4.5x 30k = 135k. Should be doable by yourself?

minimike2

Payday Loans seen on a credit file by the big lenders usually = decline, regardless of if they have been paid off or not.

Not to say there are not lenders who would look at it though but you need to sit down with someone and get it looked at properly.

londong

i know it would be a really high interest rate but to be honest my concern is that we just wont get one with any lender

if we can get one i dont mind what the rate is we dont have a choice we'll just have to pay a higher rate for a while

Ive been told Aldermore do adverse credit? are payday loans a complete no no? if everything else in the application is ok would it still result in decline?

Am i likely to get 4.5 my salary and just put it in my name? I tried one of the online calculators with just my details and it only came out at around 110k