We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Remortgage with Barclays

Options
Any advice appreciated, my current value of the property is 414000 pounds and my current out standing loan (165000 mortgage and 53000 secured mortgage), so I wanted to do a remortgage combined these two for 218000 pounds. I had some defaults previously but my credit score now showing excellent.
However, I have few standing orders for the creditors (it is long standing debt management plan - paying minimum) but not showing in the credit file. say maximum 6000 pounds. Could you please advise whether this will affect my application? should I need to tell the lender about the outstanding amount that I need to pay to the creditors? my last question is that since my credit rating shows excellent, should I first approach the other lenders who are not much stricter than Barclays? please note that my current account with Barclays and my salary goes to this account, they said I am maintaining my account is good, affordability check carried out and they said I am ok to remortgage for 218000. I did mention to the mortgage advisor that I had defaults in the past. He said that don't worry..first do the soft credit search then we decide...please give some advices ..what I should do? thanks

Comments

  • muhandis
    muhandis Posts: 994 Forumite
    Eighth Anniversary 500 Posts Name Dropper Combo Breaker
    This isn't meant to be flippant - talk to a whole of market mortgage broker. Good luck.
  • peter67
    peter67 Posts: 16 Forumite
    Thanks Muhandis,
    Barclays already arranged an appointment this Friday to put an application, let's see what are they going to offer? in the mean time I will also try 'whole market mortgage broker'? is this online application? can you recommend any good website? many thanks
  • peter67
    peter67 Posts: 16 Forumite
    a friend of mine gave me a contact number of the mortgage broker, can anyone tell me which is better...?
    - 'whole market mortgage broker' online application
    or
    - recommended mortgage broker
  • Let_Us_See
    Let_Us_See Posts: 1,319 Forumite
    Being a whole of market broker does not guarantee competency!
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.9K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 243.9K Work, Benefits & Business
  • 598.8K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.