Skip to content

Avatar
Log In
Please consider registering
Guest
Forum Scope


Match



Forum Options



Min search length: 3 characters / Max search length: 84 characters
Register Lost password?
sp_TopicIcon
Remortgage Bad credit help
Avatar
London80
1 Posts
(Offline)
1
07/01/2021 - 10:43 am

Hi,

I have a property worth roughly 500k, in 2006 I took out an interest only mortgage (on some pretty poor advice but my own fault) when the mortgage came to an end I had to remortgage as I had ne repayment vehicle in place
During this time I had to take out a secured loan (second charge mortgage)
This all equated to about 80% of my monthly salary.

I was told at the time 2017 ish to wait and improve my credit, this has not happened as month on month i have managed to just get by, other credit has been necessary for car repairs boiler etc (all my own fault i know)

I am now in the state of
Mortgage 130k (900 PM)
2nd charge 80k (700 PM)
loans 12k (500 PM)

I desperately need to refinance.

Any advice greatly received

Avatar
157 Posts
(Offline)
2
07/01/2021 - 10:44 am

Hi there,

Nothing you have said sounds impossible, but it will come down to your overall income and your detailed credit profile.

Clearly the value of your property should open you up to a fair amount of lenders, with specifically your income being the critical factor.

Forum Timezone: Europe/London
All RSSShow Stats
Top Posters:
jrlsmc890: 12
beepboopbeep: 12
Allison79mw: 11
walt46: 11
ashley_987: 10
Redpanther89: 9
nursek: 8
M_wannabe: 6
RussH: 6
ERG005: 6
Newest Members:
testls
paulgough
ThomasMoubs
Davidjohn753951
Tim453
joric
RelyServices5
RobertHep
ncubemp
Help2022
Forum Stats:
Groups: 1
Forums: 12
Topics: 156
Posts: 556

 

Member Stats:
Guest Posters: 0
Members: 411
Moderators: 5
Admins: 3
Most Users Ever Online: 207
Currently Online:
Guest(s) 1
Currently Browsing this Page:
1 Guest(s)

Read Our Latest Reviews

4.94 Stars - Based on 2377 User Reviews

Your home may be repossessed if you do not keep up repayments on your mortgage.