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Mortgage free flat wanting to borrow small amount but have a missed payment

creamtee
creamtee Posts: 28 Forumite
in Mortgages & endowments
Hi
I have a mortgage free flat worth £350k which has been rented out for 11 years and on going and would like to remortgage for £30k. I missed a mortgage payment a year ago and paid it back in Jan, I had no idea because the BTL mortgage company had my old address on file.

I guess I might have problems and the high street lenders will not touch me, any options for me?

Comments

  • -taff
    -taff Posts: 15,388 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    find a broker
    Non me fac calcitrare tuum culi
  • creamtee
    creamtee Posts: 28 Forumite
    Thanks I am trying but plenty will not look at this
  • HappyMJ
    HappyMJ Posts: 21,115 Forumite
    10,000 Posts Combo Breaker
    creamtee wrote: »
    Thanks I am trying but plenty will not look at this

    Why?

    A single late payment from over a year ago shouldn't present many problems. Maybe borrowing £30,000 isn't enough.

    Have you looked at unsecured lending? They can offer better rates than BTL mortgages.
    :footie:
    :p Regular savers earn 6% interest (HSBC, First Direct, M&S) :p Loans cost 2.9% per year (Nationwide) = FREE money. :p
  • jacobtheamish
    jacobtheamish Posts: 203 Forumite
    Find yourself a whole of market broker, can't imagine it will be free at that loan amount though.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    What's the purpose of the equity release.
This discussion has been closed.
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