Hi I have couple of btl properties & a property where I live myself . I've been asked to remortgaged two properties as there is around £100 k equity .
I've tried so many different lenders around 10 which have all come back as declined .
I have proof in terms of an email to say it's been declined but doesn't have the property address on , has all application number , standard wording thank you for submitting your approval in principal but unfortunately we are unable to assist you with your application .
My supervisor wants proof with the address on to which I'm trying to remortgaged .
I've tried application over the phone which again have been declined & I've asked if they can send me a letter confirming it's been declined . But lenders are not willing to help .
This should be enough for your IP and you should stop now. You have probably decimated your credit file with all these rejected applications and these could show for another six years.
You should really have spoken to a broker such as Shaun Vickery from Select who posts here. He can confirm that there are no mortgages available but he also has access to secured loans which are usually acceptable to creditors. It may be too late to contact him now to raise money if your credit file is ruined but certainly worth a try.
Based on another post and the amount of equity also make sure that the wording of your IVA does not require that you sell any of the properties to release funds if you cannot obtain a mortgage.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
