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Remortgaging
SophieLoui23
Posts: 199 Forumite
I had a discussion with a friend the other day regarding her worrying about a remortgage. It's suddenly occurred to me that people on here may be able to offer some advise . Basically her situation:
- Has been employed full time for the past 6 months and passed probation period at her new work. Previous to this employment she had been unemployed for 6 months due to her contract ending and had continuous employment up until this point.
- She took out a number of payday loans in 2011/2012 and estimates she had approx 10-15 loans during that period. I've told her to check her credit file to get an actual figure.
- She also has 3 defaults dated 2011 & 2012.
No current debts and she hasn't used her 1 CC for months.
She wants to remortgage in order to buy her ex partner out. They own the property outright and have done for a couple of years. She'd like to remortgage at 60% LTV in order to have a 'bit extra' for necessary renovation work (new boiler etc).
I've told her that she'd be best speaking to an IFA which she's going to do, but she's worried about any mortgage applications affecting her credit file more (if she gets declined for them).
I'd be interested to hear if anyone has any advise or has been in a similar situation?
- Has been employed full time for the past 6 months and passed probation period at her new work. Previous to this employment she had been unemployed for 6 months due to her contract ending and had continuous employment up until this point.
- She took out a number of payday loans in 2011/2012 and estimates she had approx 10-15 loans during that period. I've told her to check her credit file to get an actual figure.
- She also has 3 defaults dated 2011 & 2012.
No current debts and she hasn't used her 1 CC for months.
She wants to remortgage in order to buy her ex partner out. They own the property outright and have done for a couple of years. She'd like to remortgage at 60% LTV in order to have a 'bit extra' for necessary renovation work (new boiler etc).
I've told her that she'd be best speaking to an IFA which she's going to do, but she's worried about any mortgage applications affecting her credit file more (if she gets declined for them).
I'd be interested to hear if anyone has any advise or has been in a similar situation?
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