Remortgaging with One Applicant with a recent default

sammo456

Hi 

We are coming up to remortgage time and I have just found out that my partner unknowingly has had a default placed her credit score for £10.50 due to an admin error changing mobile phone contracts.

This is now settled once the error was noticed.

I am absolutely bereft that this may result in us losing our home. Is anyone able to reassure me that we will be able to remortgage? Our remortgage is due in February next year. 

Otherwise my Credit Score is pretty good and hers wasn't bad before this - no other defaults or missed payments.

We were on a 5% deposit mortgage though with equity we will have cleared 10% by the time of remortgage.

The mortgage value will be 260k and we have a joint income of 80k.

Thanks

housebuyer143

If you just do a product switch with your current provider they won't even credit check you 👍 you definitely won't lose your home as long as you keep up with payments.

sammo456

housebuyer143 said:

If you just do a product switch with your current provider they won't even credit check you 👍 you definitely won't lose your home as long as you keep up with payments.

Thanks. That's a little more reassuring. Do you know if this is definitely the case with Skipton?

FashionHeart

sammo456 said:

housebuyer143 said:

If you just do a product switch with your current provider they won't even credit check you 👍 you definitely won't lose your home as long as you keep up with payments.

Thanks. That's a little more reassuring. Do you know if this is definitely the case with Skipton?

This is a normal process when remortgaging with the same lender as you avoid all of the legal fees with no credit checks involved.
A credit check will only be involved if you require additional borrowing as part of the remortgage.

ACG

Skipton are pretty good for product transfers.
I dont know from an individuals perspective but from a brokers its just a case of logging on and answering some questions and choosing a new product. 

You would not lose your home though because of a default, even if it were £1005. 

Hutch100uk

I'm with Skipton and received my mortgage renewal letter 5 months before it was due. The letter had information on how to simply switch to another of their products online. This might be your best option but I would still use a mortgage broker. All the switch rates with Skipton were not that great for me.