Shared ownership remortgage refused

D

Doris

Guest
Hi I'm just wondering has any one been in the same situation as this, and if they have any advice. We currently 6 years in our home with a shared ownership mortagage from the County council. We decided to change it over and were refused, told our credit rating was bad. I got the info back from the Credit Bureau and it turns out that DH was late 9 times on payments on a car he had out on HP, . That is all there was on us, we have no loans, no credit cards and there has never been a problem with our mortgage payments, yet no-one will touch us. I saw a situation far worse that this on Money Matters RTE where the bank eventually gave them the remortgage to clear loans of €55,0000 as well as the price of their house, but that was probably just for TV. I am so mad and I do not want to go near those crowd who advertise in the likes of The Star, their rates are just nuts

Anyone any advice, please?

Title edited by ClubMan.
 
Re: REFUSED REMORTGAGE

Walk into banks and plead your case with the manager. Nothing else you can do.

Have you spoken to a broker?
 
Re: REFUSED REMORTGAGE

Yeah the broker we are going through, doesn't seem to give a ****. The amount we want to remortgage is only €117k which are well able to pay, I'll try going down the pleading role with the banks myself, it might work.
 
Re: REFUSED REMORTGAGE

Hi Doris. Change your broker. I've dealt with Sarah Wellband from REA before (she answers a lot of queries on this site) and I found her and REA to be really good to deal with. Give her a bell is my advice. If nothing else she might be able to shed some light on your situation.
 
Re: REFUSED REMORTGAGE

Hi thanks a lot for that, I'll give her a ring, hopefully they can at least explain what I could do to be reconsidered.
 
Re: REFUSED REMORTGAGE

You've been paying your share of the mortgage and rent to the County Council for 6 years without ever missing a repayment...

I'd bring along this documentation as supporting evidence if you had it...

I think it's better to get off the County Council scheme if the rent you are paying is high...especially if you want to own the house outright in the future.
 
Re: REFUSED REMORTGAGE

You could look to move the mortgage into your name only....it would get rid of the credit problem?
 
You must log in or register to reply here.
Back
Top