{"id":45228,"date":"2017-02-23T14:00:00","date_gmt":"2017-02-23T07:00:00","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/do-we-need-a-credit-check-to-find-out-whether-we-can-remortgage\/"},"modified":"2017-02-23T14:02:57","modified_gmt":"2017-02-23T07:02:57","slug":"do-we-need-a-credit-check-to-find-out-whether-we-can-remortgage","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/do-we-need-a-credit-check-to-find-out-whether-we-can-remortgage\/","title":{"rendered":"Do we need a credit check to find out whether we can remortgage?"},"content":{"rendered":"


\nMy husband and I want to finance a new kitchen and don\u2019t want a loan refusal to tarnish our future ability to borrow Q In 2013 we bought our house on a Scottish island for \u00a3229,500 on a 16-year mortgage. I am 51, my husband 56, so we now have a mortgage for the next 12 years. The house is big but the kitchen is tiny, and we have a large family. We are thinking about having a new kitchen built and there seem to be two options. We can either build one in our dining room for about \u00a317,000, which would look lovely. Or we can go for broke and knock down the small extension that houses our existing kitchen and loo, and build an extension with kitchen-diner, utility room and office opening on to our large garden, which would cost around \u00a350,000. We owe \u00a396,500 on our mortgage and, as the house is valued at \u00a3275,000, we could remortgage to fund either option. The only problem is that our credit ratings aren\u2019t perfect. My rating is good to excellent but my affordability score is poor. My husband\u2019s is average. We do, however, have quite a lot of personal borrowing, and are asset-rich and cash-poor, largely as a result of funding three of our kids at university, which means that credit card usage is high. Continue reading…
\n
\nSource : theguardian.com
\nRead more…Do we need a credit check to find out whether we can remortgage?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

My husband and I want to finance a new kitchen and don\u2019t want a loan...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-45228","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-bLu","jetpack-related-posts":[{"id":140849,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/research-re-measure-and-dont-rush-how-to-avoid-a-kitchen-extension-nightmare\/","url_meta":{"origin":45228,"position":0},"title":"Research, re-measure \u2013 and don\u2019t rush: how to avoid a kitchen extension nightmare","date":"December 29, 2023","format":false,"excerpt":"\r Absent builders, dodgy contractors, endless delays \u2013 our renovation project quickly went off the rails. These are some hard-won lessonsTo know me is to know my kitchen. For the past three years, ever since my husband and I decided to renovate, it has consumed about 90% of my brain.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":91640,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/can-i-get-a-mortgage-for-more-than-the-value-of-the-property\/","url_meta":{"origin":45228,"position":1},"title":"Can I get a mortgage for more than the value of the property?","date":"June 18, 2018","format":false,"excerpt":"\r I\u2019m buying a house at a discount from a family member but need funds to renovate itQ My partner and I are first-time buyers. We are looking to buy a house from a family member. The family member has had the house valued at \u00a3120,000 but has offered it\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":73031,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mortgages-becoming-a-privilege-of-the-rich-letters\/","url_meta":{"origin":45228,"position":2},"title":"Mortgages becoming a privilege of the rich | Letters","date":"November 28, 2017","format":false,"excerpt":"\r Stephanie Lovatt on the plight of young renters and Steve Smart on policy solutionsWhy does nobody address crippling private rent (Nils Pratley, 21 November)? Why is it OK for my daughter and boyfriend to pay someone else\u2019s mortgage by renting and having to share with several other people, only\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":104893,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-we-remortgage-our-home-to-build-an-extension\/","url_meta":{"origin":45228,"position":3},"title":"Should we remortgage our home to build an extension?","date":"March 11, 2019","format":false,"excerpt":"\r A neighbour sold a property like ours \u2013 without an extension \u2013 for 10% more than we paidQ We have been living in our five-bedroom home for the last four years. I don\u2019t imagine we\u2019ll move for at least another six years or so, until both our kids have\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":116047,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ask-the-experts-home-buying-how-can-we-do-the-splits-on-our-mortgage\/","url_meta":{"origin":45228,"position":4},"title":"Ask the experts: home buying | How can we 'do the splits' on our mortgage?","date":"May 4, 2020","format":false,"excerpt":"\r Technically, I own 63.5% of our maisonette and my boyfriend owns 36.5%. But his family gave us a new kitchen. Should I recoup the exact sum I put in?Q I appreciate it\u2019s an unusual time to be concerned with mortgage splits, but my boyfriend and I bought a house\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":124492,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/i-bought-a-property-with-a-friend-how-should-we-split-ownership\/","url_meta":{"origin":45228,"position":5},"title":"I bought a property with a friend \u2013\u00a0how should we split ownership?","date":"February 7, 2022","format":false,"excerpt":"\r We originally divided it to reflect our uneven deposits, but now I\u2019ve paid to renovate a bathroomQ In May 2018, I bought a property with a friend. His deposit was larger than mine although we split the mortgage equally. 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