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Remortgaging - newbie at this
lolly3fh
Posts: 36 Forumite
Hi,
Our current deal is coming to an end next month and the broker who arranged our first mortgage has asked if we want to look at more options.
I know absolutely nothing about any of this, how easy is it to do? Do we have to go through the whole application again? We bought on Help to Buy, so are mindful that we will need to consider paying off the equity loan within the next 3 years.
Once again I am worried that my credit history will go against me. I was worried when we first applied for our mortgage but we were accepted straight away.
But I'm worrying about re-mortgaging. I put my wedding dress on my credit card and took out a £500 loan for the bridesmaid dresses. Seemed ok at the time, but now it seems silly, but it's done anyway. Then whilst on honeymoon I missed a credit card payment (first ever missed), which is resolved now, but again, it's done.
Is this likely to affect our options? 1st option is stay with same lender, no additional borrowing, better deal, 2nd option is switch lenders, borrow extra £50k to pay off HTB.
Our current deal is coming to an end next month and the broker who arranged our first mortgage has asked if we want to look at more options.
I know absolutely nothing about any of this, how easy is it to do? Do we have to go through the whole application again? We bought on Help to Buy, so are mindful that we will need to consider paying off the equity loan within the next 3 years.
Once again I am worried that my credit history will go against me. I was worried when we first applied for our mortgage but we were accepted straight away.
But I'm worrying about re-mortgaging. I put my wedding dress on my credit card and took out a £500 loan for the bridesmaid dresses. Seemed ok at the time, but now it seems silly, but it's done anyway. Then whilst on honeymoon I missed a credit card payment (first ever missed), which is resolved now, but again, it's done.
Is this likely to affect our options? 1st option is stay with same lender, no additional borrowing, better deal, 2nd option is switch lenders, borrow extra £50k to pay off HTB.
0
Comments
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Surely this is one to discuss with your broker, unless for some reason you do not have confidence in them?I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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