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is it possible to remortgage with 2 defaults on file


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Hi guys need advice we have found our dream home that had everything we need with our growing family. I have 2 defaults on my credit file one comes off nov 2013 and another comes off dec 2014, our current mortgage is only small 45k house is worth approx 130k in this market. The house we have seen in 240k what are the chances of us being able to remortgage my partner has a clean credit file its just me with 2 d3faults I have just settled my debts off early this year any advice pls we are currently with rbs

Many thanks

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Dont take no for a final answer until every nook and cranny has been explored :wink:

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You only need to post in one forum - I have merged both threads into this one.

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Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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In response to your question.

 

Lenders are getting tougher where credit scoring is concerned and if your default markers are recent then they might take these into consideration. TBH, each lender is different so it isn't going to be easy to give you a definitive answer.

Have we helped you ...?         Please Donate button to the Consumer Action Group

Uploading documents to CAG ** Instructions **

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy - HERE

2: Take back control of your finances - Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors? Read Here

4: Staying Calm About Debt  Read Here

5: Forum rules - These have been updated - Please Read

BCOBS

1: How can BCOBS protect you from your Banks unfair treatment

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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Hi Lisa. You will clear £85k less expenses on your sale which means you will need to be borrowing about £160k to get the new property. Can you raise that mortgage if you only use your partners income and leave you off of the application? Nationwide and Woolwich offer income multiples of 5 x income - in practice they use affordability calculators and you rarely get that much. But if he earns £40k!!

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