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Remortgage - admit debts? Credit build?

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  • Remortgage - admit debts? Credit build?

    If we were to remortgage (looking at hopefully halving the mortgage when OH gets a pension lump sum), do I have to declare the outstanding non SB debts? I've got 3 who are still receiving token payments (which may need to be declared?) - along with a bunch that were SB around August last year (which I'd assume don't need to be mentioned?).

    Also, given that this remortgage will most likely be within the next 6 months, have I left it too late to start credit building? I've not checked our credit reports for about 7 years and am aware that I should look to make sure that DN dates etc are correct, but haven't wanted to stir a new hornets nest of activity.

  • #2
    are any of them showing on your credit file?
    you may have to check it. the mortgage company will do a search of your file so it will flag up any accounts still showing an arrangement to pay or defaults
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    • #3
      I finally plucked up courage to check my credit file through MSE Credit Club (via the AAD link) and I'm seriously stunned to see such a healthy score. I've checked the full report and absolutely no mention of previous 'misdemeanors', It doesn't even look like I've been searched by anyone other than insurance companies in the last 12 months. The only thing going against me for scoring is lack of current credit. I'm shocked that it looks how it does, I was expecting all sorts of issues of incorrectly dated DN etc. I can't believe that the 3 accounts I'm still paying through arrangements aren't on there.

      Seeing that has certainly been reassuring in terms of remortgaging and no longer being frightened of what mortgage lenders would find on the report.