Second mortgage with repayment agreement

Yorkie1984

Hi everyone

First post so please bear with me and apologies if this should be posted elsewhere.

I had been paying utilities based on estimates readings for several months due to the position of the meters not being generally accessible. I recently gave a meter reading which led to a large increase in the debit on my account, which I do appreciate. Speaking to the utility company the direct debit they gave to cover the balance and usage was £330. I advised my limit would be £170 which they advised they could do over a number of years as part of a repayment arrangement however this could affect my credit rating.

I currently have a mortgage and a good (900+) credit rating and no missed payments, defaults, etc. We are looking to get a second mortgage for a buy to let or fixer upper in a year or two.

How much of an impact would this arrangement have on the chances to achieve this, or anything else we may try to undertake?

Apologies if I am lacking any details that may be useful. Please let me know if there are any further points I should include.

Thank you in advance for any advice.

AnotherJoe

If you can't afford gas and electric, I think you are getting way ahead of yourself regarding becoming a landlord.
What is the issue with the meters being inaccessible? Do you mean that someone is preventing you reading them ?