Advice On A Remortgage Please.

GOLFER

Right here it is.

I crrently have a mortgage for £120000 with my house worth in the region of £200000.

My deal ends at the end of May with C+G and i want to change to a lifetime tracker with Lloyds TSB.

The problem is I have a poor credit rating and quite a bit of unsecured debt ie credit cards and loans totalling about £47000. Whaty are the chances of getting a deal from Lloyds TSB.?

Will they credit score me and look at my other debt and say NO. The thing about the other debt is that most of it is hidden from my partner so I cant add it to the mortgage. I can afford the other debt as i make some extra cash from work on the side bout 250-350 per month but i havent put this on the application

Im just looking for the best solution to move my mortgage to a better deal and if the worst comes to the worst would i be able to stay with C+G on their vartiable rate.

any advice welcomed

Many thanks

GOLFER

The other question would be what if I stayed with the C+G and transferred onto their Lifetime tracker rate. Would they change this for me without credit scoring as I am an existing customer or would they look into credit ratings and other financial commitments.

minimike2

C&G are Lloyds TSB - So it should just be a case of getting the new deal from them

GOLFER

Thanks for that info

But the question is are they going to credit score me and look at other financial commitments before they give me a new deal or would it be the case that as i only want 60% ltv they would just offer it to me

minimike2

Most lenders do not credit score you for a retention product. I do not believe C&G do so at the moment, but things change day by day at the minute so your best bet is to call them and ask.

GOLFER

Any other FA's help me out here.

Surely someone must have had dealings with C+G or Lloyds.

Please Please

beecher

I think the problem is that no-one can give you a definitive answer, as things are changing daily. Even if an FA had sorted out a remortgage with C&G last week, they might do things differently today.

Do C&G do the same lifetime tracker that Lloyds are offering (since Lloyds offer C&G mortgages, I'd have thought it was possible). If so, why don't you just apply and see what happens - why are you assuming you'll have to go on C&G's variable? Phone them up in the first instance, and see what they say.

GOLFER

the reason i was advised to go thro lloyds rather than C+G was thet the product fee at Lloyds is half that of C+G.

But i dont want to go there and get refused then go back to C+G who would then know that i had applied through Lloyds

beecher

GOLFER wrote: »

the reason i was advised to go thro lloyds rather than C+G was thet the product fee at Lloyds is half that of C+G.

But i dont want to go there and get refused then go back to C+G who would then know that i had applied through Lloyds

Well if you're worried just phone C&G first and ask them if you could get the deal. Ask them why it is half price with Lloyds and see what they say - no harm in asking. I'd move quick if I were you though - deals seem to be disappearing fast.

Conrad

Im with C & G, and I would'nt change to muppet Lloyds. True pure Banks tend to give awful service and are forever restructuring.

Dont be take chances, stick with C & G.