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Cant get a remortgage
Warpa
Posts: 23 Forumite
I have a mortgage broker looking for me to remortgage my house as its on an Interest free mortgage. I've just had my x wife from 17 years ago removed from my credit file as an associate.
I'm 55, mortgage is 124k, house is valued at 320k and I earn 40+k a year. Equifax credit score is 935.
I've been at this property for 25 years. What is a lender seeing on my file? There is nothing there apart from my partner drawing out £25 on a credit card not knowing it has a negative impact.
My mortgage advisor has no idea, he said he spoke to the mortgage lender at Halifax and showed my details, and he had no idea why they won't lend.
I'm 55, mortgage is 124k, house is valued at 320k and I earn 40+k a year. Equifax credit score is 935.
I've been at this property for 25 years. What is a lender seeing on my file? There is nothing there apart from my partner drawing out £25 on a credit card not knowing it has a negative impact.
My mortgage advisor has no idea, he said he spoke to the mortgage lender at Halifax and showed my details, and he had no idea why they won't lend.
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Comments
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What do your three credit files show (not the score, but the data)?0
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Unlikely to be an interest free mortgage. More likely interest only. What term are you looking to take the new (repayment ? ) mortgage over. Why not add your partner to the mortgage if affordability is the underlying issue ?0
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Think it's Interest Only and not Interest Free.
Ask your broker to check all 3/4 Credit check companies0 -
Are you trying to get an interest only again or repayment?
Maybe the issue is that interest only isn't readily available anymore. Are you trying to take the mortgage too long a term or too short that the payments are too high.
Are you sure it's actually your credit that's the problem?1 -
Nobodys credit is the problem - data is the problem.housebuyer143 said:Are you trying to get an interest only again or repayment?
Maybe the issue is that interest only isn't readily available anymore. Are you trying to take the mortgage too long a term or too short that the payments are too high.
Are you sure it's actually your credit that's the problem?
Every person has data held on them, in their credit files.
Data reflects how a person manages their money.
If the money management is lazy and sloppy it shows on there.
If the money management is organised and done well is shows on there.
No more, no less.
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Sign up for this, remembering to cancel before the subscriptions start. It has information from all three CRAs;-
https://www.checkmyfile.com
I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, 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 advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Any retention deals on offer from your current mortgage company?0
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