Bad Credit Remortgages Help Needed!!!!!

[SHELBELLE]

Hi everyone

I need some help and advice with the following:~

I have been trying to remortgage/find a secured loan through a broker since DECEMBER 2007, I still have nothing in place dispite paying for valuations and fees of £700.00.

My house was valued this year at £340k, the current mortage is for £170k.

I have since last year inherited a rather bad credit history with a few defaults and a CCJ for £9k, all of which are being paid back through a DMP with the CCCS.

My partner is not on the current mortgage and is a discharged(june 2007) bankkrupt.

I really need to sort my hideous problem out but the mortgage broker never seems to come up with the goods or offers secured loans at stupid interest rates with high charges.

I don't mind if my partner goes on to a remortgage with me as long as no-one could know do anything to the property.

We have a joint income of £70k and wouldn't mind putting a remortgage on to interest only for a short time.

I don't want to keep applying for different products as this will probably make my credit file look even worse.

Basically I guess what I am asking is that does anyone know of any specialist lenders that would suit our problems without charging stupid fees or extortinate interset rates.

I have never missed a mortgage payment, and all my problems started when my company was forced into liquidation last year.


Sorry to go on but it is really making me quite ill.

Any advice or help with this would be greatly appreciated and I have made a small donation to this site in another forum.

Thanks

Shelbelle

[wino]

Hi Shelbel
As you say some lenders charge stupid fees.
Have you checked out GMAC.
I know they lend to people with poor credit ratings but make sure you read the fees bit.

[SHELBELLE]

WINO (my nickname I think at the moment!!!!)

No I haven't but will make my enquiries.

It just is so frustrating that we have a lot of debt are trying to do something about it with the equity in our home (we are one of the lucky ones) and just do not appear to be able to release any of what I consider money. I need to pay a secured debt off that was down to the business but that is another story!!!

Thanks for your recommendation.

I have just re read my 1st post and would like to apologise if by mentioning our income(which I know is not to be sniffed at) I have offended any other CAGers, It certainly was not my intention and it shows that it's not just the people on low incomes/benefits etc that find thereselves with debt problems. Slap my wrist.

Thanks

S.B.

[wino]

No worries,

These companies have us over a barrel and sometimes we just have to not think about the fees if we need the loan. Just be careful and make sure your making the right decision for you

[jake44]

hI From what I have heard GMAC and Kensington are not taking on new business !

[wino]

Originally Posted by jake44

hI From what I have heard GMAC and Kensington are not taking on new business !

But when they see how much equity shelbelle has got in her property they might just change their minds

[SHELBELLE]

Thanks Jake and Wino

I have completed an online enquiry for GMAC so will be receiving a call back soon and will post the outcome.

Cheers for now

S.B.

[OLIVE.FAMILY]

Hi Shelbelle

I have heard of a comapny called Mr Mortgage. They also are specialist mortgage providers.

Olivesxx

[tonycee]

Find Your Loan At Loanstracker

[SHELBELLE]

Olives/Tonycee

Thank you for your input, it is much appreciated.

Cheers

S.B.

[SHELBELLE]

Hi

Just wanted to check if anyone could help me with this?

Regarding my secured business loan(post3) that I will have to repay, does anyone know: if I have signed a "Guarantee & Indemnity(Individuals) witnessesd by a Solicitor, is this valid indefinately until the loan is repaid or should the bank have obtained revised documents at certain intervals? and is there certain wording and terms that need to be included?

I am only asking as the one I signed was in December 2003, just a thought on how I may stand legally:confuse d:


Any help or advice greatly appreciated.

Cheers

S.B.

[SHELBELLE]

bumptedy bump

[wino]

I would of presumed it would still stand. Someone with more know can hopefully reply.

[SHELBELLE]

Bumping this up!!!!!!

[manchester1]

Hi Shelbelle, Firstly on the issue of the business loan i am assuming that you would have signed a individual guarantee which provides security to lender until debt is paid off. Do you have copy of agreement and T&C.On the issue of your mortgage could you post exactly when you had the ccj registered.

Manc 1

[SHELBELLE]

Manchester 1

Yes I signed an individual guarantee in 2003 and I do have a copy showing approx 4 pages of terms etc.Just do not know how enforceable this is, I assume they have me by the short and curly's!!!!!

The CCJ was registered 2007, which I am currently paying back through CCCS. I have recently issued a CCA request and they have wrote to tell me they will contact the OC and endeavour to provide me with it. I think that I have acted too late on this one as it is a CCJ I am sure that I will have to continue with the courts instruction. Shame I didn't know about this site before!!!

Thanks very much

S.B.

[jake44]

Hi SHELLEBELLE

How did you get on with your mortgage enquiry with GMAC ?

[SHELBELLE]

Hi Jake

They haven't contacted me yet!!!

I have managed a decision in principle with Charcoal.

My original advisor has now got his finger out so to speak as I don't think he wants to loose my business.

Thanks for asking.

S.B.