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mortgage approval with bad current a/c history

  • 13-01-2011 10:53PM
    #1
    bmcdona
    Registered Users, Registered Users 2 Posts: 6 ✭


    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?
    Tagged:


Comments

  • #2
    maxwell smart
    Registered Users, Registered Users 2 Posts: 1,941 ✭✭✭maxwell smart


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


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