If i tidy up my finances now how long before the banj would let me remortgage ?

[fakeblonde]

My finances are absolutely terrible.
All my own fault and not through lack of money just poor management tbh.
Id really like to remortgage to pay off 3 credit cards and build an extension. With my cards paid off id be paying out roughly the same as i am now and have an extension now !
If i made regular payments to everyone for 12 months do you think that would be ok or am i looking at years.
Cheers

Whats your credit record like?

In the current climate you are going to be assessed on two main factors.

1. how much credit you already have

1. whether or not you have defaults (missed payments) and/or ccj's.

Also, why do you want to take out more credit when you have already stated your finances are terrible.
Why do you want an extension?How safe is your job?
If your income dropped and you had to sell the house to avoid repossesion what is the likliehood of you being in negative equity?

In all honesty, i wouldn't remortgage. Swapping unsecured debt for secured debt is always an awful idea, particularly if the economy is struggling.

If your credit record is ok i would look at transferring the credit card debt onto 0% interest or low life of balance cards instead. You could then pay the same amount you do now but pay more off each month if you see what i mean and be debt free quicker.

Once you have paid off each card cut it up! Ideally you should only have one card which is kept for emergencies and has a relatively low credit limit.

Normally 3 months would be fine but the credit score cards have tightened up dramatically in the last few months, somebody will lend you the money but you might not like the rate that is the biggest problem at the moment.