Mortgage prisoner

Ayles

I notice on Martins thread the other day he said that there are a few companies helping mortgage prisoners does anyone know who they are? We have been hit with the Northern Rock selling us onto NRAM and now Tulip we are both Self Employed and our accounts dont show as earning enough money for the size mortgage that we have we have an 60% LTV mortgage and we are paying 4.54% if we are able to remortgage to a company offering less than 2% we can save over £1000 per month in interest but lenders are saying we cant afford it!!!!!!! Anyone any ideas which mortgage company can help?

TrickyDicky101

What do your SA302s show? A mortgage balance of c.£472k is going to be a problem to finance with anyone if you can't evidence your income in an acceptable manner.

4.54% isn't a bad rate (point taken about it costing you money though) but you are exposed to significant risk should rates rise.

Thrugelmir

Perhaps if you downsized your property and correspondingly reduced the amount you owe. You may find lenders more accommodating. Your cell door is open, not as if there aren't options available.

Pixie5740

Have you actually sat down with a broker to find out exactly how much of a mortgage you can get?

If you can't remortgage then your choices will be to carry on as you are or downsize to something you can get a new mortgage for.

amnblog

You can place this lending elsewhere from 1.5% if:

You have a clean credit record
You can prove you are self employed or employed (not your income just employment)
You have made all payments in full and on time
You have had your mortgage for at least three years

Sounds like you?

You need to speak to a good broker as those of us who know how to do this cannot suggest lender names on these forums without knowing your case in full.