mortgage approval with bad current a/c history

bmcdona

Hi

I'd really appriciate any advice you can give... We're renovating a property I inherited. we've paid for all the removations so far with our saving, and need another 45k to finish the work. we've a mortgage on our existing house, and am looking to remortgage/refinance for 112k (which is the current mortgage, a credit union loan and the 45K I need to finish the renovations). the house I want to re-finance is currently 160 - 180K. When the other house is renovated, I'm hoping to rent for approx 120 - 150/wk.

Trouble is, I haven't been managing my current account very well, i've gone into the red/had unpaid direct debits quite a few times over the past few months as I haven't been watching my spending.

My mortgage and Credit Union loan are paid up to date. I earn 32K and hubby earns 35K + potential rental income when the house is finished.

Question is... will I have any chance of getting a remortgage without any savings now in my account, and my mis-management of my current account?

maxwell smart

As far as I know the bank looks for 3 months bank statements. Get your act together and wait for 3 months.