Re-mortgage with debt

FinallyDebtfree2017

I would appreciate any advice.

My husband and I are about to re-mortgage, just switching to a new rate, not asking for more money.

I am in debt and about 37% of my income goes to debt repayments, my husband isn't in debt.

We have never missed any mortgage nor debt payments.

As I am in considerable debt, more then when we first got the mortgage, but I am also on more money, we thought we stay with the current supplier,

In preparation for the meeting they have asked us to pull lots of information together, payslips, outgoings (incl, debt etc..), life insurance etc..

Why would they ask for all of that if they don't do affordability checks :eek:

Muscle750

Are you moving lender? If so you going to have a problem i think , However if your staying the same lender and just want to switch to a different deal i cant see they can say no. But i cant say for sure end of the day they want their money either way.

dimbo61

Who are you with ?
Can you look on your lenders website for new deals for existing customers !
You maybe able to do this online and just complete the switch without a full application

FinallyDebtfree2017

Thank you muscle750. & dimbo61
Planning to stay w current lender
Online doesn't seem to be an option.

Thrugelmir

Lenders can choose to review their customers circumstances if they wish. Many do opt out. Though this is often determined by the historical lending policies of the individual lender concerned.

Is your mortgage on an interest only only or repayment basis? If it's the latter. Then the fact that they are asking for the information in advance suggests that they have already run credit checks.

FinallyDebtfree2017

thank you thrugelmir

Repayments

So now I am even more worried, basically they have found something they didn't like with the credit check so that is why they have asked for the info?

When my husband was speaking to them they offered him a much lower rate.