Advice needed regards remortgage

stuart30

Hopefully some of you knowledgeable people will be able to help....basically in a nutshell im fast approaching the end of a 2yr fixed deal (Northern rock) and after speaking to an independent mortgage adviser ive just checked my credit report and discovered the two banks im reclaiming bank charges from one has put a default notice on my file and the other is adding late payments to file,both bank accounts were placed into legal dispute long before credit file was updated and as such both banks have breached the relevant banking code.:mad:

My question is with only a month to go before i must have another mortgage in place will this have a major impact on a lenders decision....i have paper work that shows both accounts should never have been added to credit file but would this have any sway with mortgage company.

Add to this when we took out the mortgage (joint) the wife was working part time earning 6k ish...now its just myself working and earning about £26/£27k mortgage is for £114000 outstanding and property recently with drawn from the market had a offer of £134000...so just wondering LTV if id be ok or would the above make just it nigh impossible too remortgage.

Believe Northern rock say after 2yrs fixed deal is up mortgage will jump from £700 too just under £1000 which is a huge increase as far as im concerned.

Hope the above makes sense and any advice would be superb....would ask my mortgage adviser but he"s been doing NOTHING for the last month despite me chasing him so as of today will need too look else where for an independent.

JimmyTheWig

Salary multiples and LTV aren't brilliant, but not too good either.
What's the rest of your credit history like apart from these two glitches?

Conrad

Stuart soem people are obtaining better terms from N Rock than those they were originally told would apply at the end of thier deal, so I'm guessing N Rock are improving thier offers for existing clients, so perhaps give them a go once more.

I think you could struggle trying to change lender just now and valutaions are comming in lower each month regardless of whether a client has recently achieved an offer on thier home.

stuart30

Thanks for the replies guys..

Credit history seems ok from what i can see on credit file...although having said that i have struggled previously with obtaining credit,quite why im not sure.

Yes i"ll give Northern Rock a call as spoke to mortgage adviser and he said its not looking very hopeful....i did try HSBC and i kid you not they asked did i have any loans (yes £160 monthly) Outstanding credit card balance (yes £800) and income £29000 and they offered me a staggering £38000.:eek:

I even phoned up and spoke to a bloke and he basically said ""well if you will have loans and credit cards your a higher risk borrower"" Basically told me that i needed to earn a lot more than i do and have no loans and no credit cards for them too have any interest in helping me.

Really was quite a surreal conversation.....Half expected Jeremy beadle to jump out at me....lol

Has anyone had any dealings with Bristol and west.