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    • MissConundrum
    • By MissConundrum 8th Jan 18, 2:17 AM
    • 1Posts
    • 0Thanks
    Bad credit RE-mortgaging
    • #1
    • 8th Jan 18, 2:17 AM
    Bad credit RE-mortgaging 8th Jan 18 at 2:17 AM
    I have bad credit (stupidity few years back, approx 2.5k here and there that went to court and 9k loan with creditor).

    I have a help to buy flat, bought @ 101k can sell 180k. New house mortgage I could get is approx 160k. Fine.

    I have to pay builder 15k and government 15k when I move/sell - also fine.

    BUT I applied for remortgage to then own solely and pay off the 30k to own fully to then look for a house and move, easiest way. However when applying for additional borrowing of course credit check failed! So do I sell flat, store equity, pay off all bits of debt laying with court and loan and 900 credit card. Then build credit up again to apply again in a year or so.....or stay and try for a guarantor mortgage, get mortgage through Dad but deposit may need to be off debt when sell and move? Spinning head!!!!!
    PS sensible now so I more debt! Not even CC in future!!
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    • anselld
    • By anselld 8th Jan 18, 7:31 AM
    • 5,766 Posts
    • 5,447 Thanks
    • #2
    • 8th Jan 18, 7:31 AM
    • #2
    • 8th Jan 18, 7:31 AM
    Why do you need to remortgage or sell? Why not just sort out your credit record first?
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