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Remortgaging Advice please
Lanxlas
Posts: 2 Newbie
I'd like a bit of advice please about remortgaging with a not so perfect credit file. Long story but I was financially stung by a member of family and as a result have got into a little debt due to them. I don't have any CCJ's just a couple of late payments.
I own a property which has quite a bit of equity in it and have applied to remortgage to take a bit of equity so I can pay off the debt but this was rejected. Has anyone any advice please or can recommend a mortgage advisor/company who may be able to help please? Thanks in advance
I own a property which has quite a bit of equity in it and have applied to remortgage to take a bit of equity so I can pay off the debt but this was rejected. Has anyone any advice please or can recommend a mortgage advisor/company who may be able to help please? Thanks in advance
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Comments
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... which would make your question slightly redundant, no...?I own a property which has quite a bit of equity in it and have applied to remortgage
Are you pre-judging the application as a failure?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Sorry haven't explained very well. My concern is that as my remortgage application was declined am wondering if there is any point trying elsewhere, are there lenders out there who may consider allowing me to release some equity?0
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Application was rejected !
Could you look at your current lenders new deals to existing customers
If you are paying less each month you can tackle your debts0 -
Have you asked your current lender? If you remortage with another bank you'll have to pay valuation fee's, solicitors etc again too. If you remortgage with your own bank, you don't have to change anything with the land registry etc, so it is worth thinking about that when comparing deals, as sometimes the extra costs, or mortgage fees involved don't actually save you any money.MFW OP's 2017 #101 £829.32/£5000
MFiT-T4 - #46 £0/£45k to reduce mortgage total
04/16 Mortgage start £153,892.45
MFW 2015 #63 £4229.71/£3000 - old Mortgage0 -
This should not be a barrier to extra lending, you just need to widen your search.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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