Question 1

Can I consolidate debt into my mortgage?

Accepted Answer

Yes, most lenders allow debt consolidation, though criteria vary. Some restrict to secured debts only, others accept unsecured. Maximum LTV is typically 80-85% for consolidation. Your payment history on existing debts affects options.

Question 2

What's the maximum I can borrow for capital raising?

Accepted Answer

Capital raising limits depend on your LTV and purpose. Home improvements typically allow up to 85% LTV. Business purposes may be restricted to 75%. Some lenders cap the amount regardless of equity available.

Question 3

Can I remortgage with arrears history?

Accepted Answer

Recent mortgage arrears significantly restrict options. Most mainstream lenders require 12-24 months clear of arrears. Specialist lenders may consider you with 3-6 months clear. The severity and reason for arrears also matters.

Question 4

When can I remortgage after purchase?

Accepted Answer

Most lenders require 6 months' ownership before remortgaging, and will only lend on the purchase price, not current value. After 6 months, full market value is typically used. Some lenders have 3-month minimums.

Question 5

Should I consider a product transfer instead?

Accepted Answer

Product transfers (staying with your current lender) often have simpler criteria as they use existing information. However, switching lenders may get you a better rate and terms. Compare both options before deciding.

Remortgage Criteria

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