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Re-mortgage advice
kandsw1962
Posts: 3 Newbie
Hi,
Just wondering if anyone can give me some advice. I want to try and re-mortgage. I have 115,300 outstanding of which 50,000 is interest only (I know, I know!) - I was with Northern Rock, and now with 'Landmark Mortgages' paying 4.99% apr and they don't/won't re-mortgage with us. I want to try and take out a repayment mortgage my house is valued at 180,000 and the LTV would be 64% - I want to take it out over 12 years (I will be 67 then) and there are some good deals out there, and supprisingly the monthy repayment less than or about the same as what we are paying now. However, here is the problem, my wife's credit score is not too good-we both have 999 on experian, but her debt/income ratio and available cash have big red flags against them - My salary is good and we have a joint bank account with all monies shared, bills paid etc, just we both have loans, and the loans against her name are whats causing this. Would any lender even consider our joint application, or could I apply on my own? - Any help would be greatly appreciated! - Thanks
Just wondering if anyone can give me some advice. I want to try and re-mortgage. I have 115,300 outstanding of which 50,000 is interest only (I know, I know!) - I was with Northern Rock, and now with 'Landmark Mortgages' paying 4.99% apr and they don't/won't re-mortgage with us. I want to try and take out a repayment mortgage my house is valued at 180,000 and the LTV would be 64% - I want to take it out over 12 years (I will be 67 then) and there are some good deals out there, and supprisingly the monthy repayment less than or about the same as what we are paying now. However, here is the problem, my wife's credit score is not too good-we both have 999 on experian, but her debt/income ratio and available cash have big red flags against them - My salary is good and we have a joint bank account with all monies shared, bills paid etc, just we both have loans, and the loans against her name are whats causing this. Would any lender even consider our joint application, or could I apply on my own? - Any help would be greatly appreciated! - Thanks
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Comments
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Sounds relatively straight forward. Find a good broker and let them do the legwork in finding you an appropriate lender.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 advice0 -
What is the extent of your indebtedness?0
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Contact a brokerI am a Mortgage and Life Insurance Advisor.
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 advice0
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