I have a mortgage currently which I pay on my own and always have done. I’m getting divorced and I’m going to need to sell the marital home and move.
My heart is somewhat set on moving to London and buying a flat.
However, my credit record is fairly terrible due to a combination of the impact of COVID and then I stupidly missed one payment earlier this year and am only just paying it off now because of my ADHD.
While my credit record is not great, I don’t actually have very much debt other than my mortgage and an overdraft and once my arrears are paid off next month I’ll be up-to-date on everything.
I’m a high earner so no affordability issues.
What I want to know is whether my current lender is likely to be willing to lend me the same amount again on another property if I have to sell the current house?
I understand that they may not want to increase the amount they lend me but hoped they’d take the view that since I’m already with them, me having the same mortgage amount on another property is no worse from their perspective.
Does anyone know if this is likely or a bit overly optimistic?
I know the only answer is to ask the mortgage company but they will only discuss it once the arrears are paid which is fair enough (they’ll be paid in a month’s time).
It’s Leeds Building Society and they do tend to be very nice and fair (actually the best company I’ve ever dealt with…).