Remortgaing - credit advice

notaclue2018

Hi

I want to remortgage and have been checking my credit reports in advance. Experian and Equifax have me as having excellent credit ratings but note that I am not on the electoral register. I am urgently looking into that and have emailed my local authority to sort it out. But callcredit say they cannot verify me at all - is this likely to be due to the electoral roll issue too? It seems strange they cant give me any kind of report. I have tried different credit cards to verify but no luck. How important is it that all 3 have my credit reports If I want to remortgage?


Thanks.

[Deleted User]

It depends which lender you use. One that relies on Call Credit will want to see it.

The ER is an important factor so get that sorted before applying as lenders will strongly disagree with your 'excellent credit rating' without it.

System

Remember that you can also remortgage to a better deal with your current mortgage provider. This has the advantage that they don't have to do an affordability check and in most cases they'll just ask you if you can afford the repayments on the new deal. Also there's no fees to pay such as legals etc. If you have dropped a LTV band though you'll need to make sure they're aware of that. So whilst the interest rate you may be offered with your current lender might not be the lowest, when you factor in the ease and the cost savings it may end up being the better option.

notaclue2018

Thanks. The problem is that I need a buy to let mortgage which my provider does not offer. That had been my original plan but it has been scuppered. It's quite frustrating - I've got a lot of stress in my life at the moment and I'm finding it hard to cope.