Porting mortgage & credit checking

sira_2

Hi does anyone know if i were to port my current mortgage with Mortgages Plc and keep the same amount of mortgage, would we be credit checked again? We are currently moving house and was going to rent but have now found a property to buy. We know our mortgage is portable but wondered if they will credit check us as hubby has a CCJ. Also are the likely to let us do it as the house we want to buy is worth £40,000 less than the one we are in. We also plan to swap over to a interest only mortgage as this will save us £250 per month! Any advice would be great, thank you.

angelavdavis

Yes, whenever a mortgage is amended - be it a new mortgage with a new company, or a remortage with the existing lender - a credit check will take place.

The decision on whether you will be accepted for a new mortgage depends on the lender's criteria. It might be worth going through a mortgage arranger to organise this if you are concerned.

Martin has an article here that is worth reading and he recommends mortgage arrangement companies too.

sira_2

Does anyone else have any more opinions please or know if Mortgages Plc take anyone with a CCJ? Thanks

angelavdavis

Sira,

I suggest you post your query over on the mortgages forum as there are people there with more knowledge on there too.

sira_2

Thanks hun, have done but i think you're right in what you've already told me just kidding myself x

tyllwyd

Hi! I don't know about this myself, but I know that another person here (pandapaws) had a very similar problem when they wanted to move. They ended up deciding to get a mortgage with a different lender, I think.

There's a thread here
http://forums.moneysavingexpert.com/showthread.html?t=677703