Hi,
I bought a house with a friend and ran i personally came into financial difficulty, including 2 defaults (4 Years ago)
Now the one thing i always made sure was paid on time was my mortgage with Nationwide.
My friend has decided he wants to move in with his GF, im much more financially stable, and paid him out the equity and continued to pay the mortgage my self.
Coincidentally i also have been offered a position in London and an planing on renting the property out.
The questions are...
1. Would i be able to change the mortgage into my own name with my poor credit rating?
2. Would my credit file effect my ability to switch to a buy to let?
3. Whats the best order to deal with this? Should i try change to just my name first? Should i switch to buy to let then remove my friend?
Any help would be great.
I bought a house with a friend and ran i personally came into financial difficulty, including 2 defaults (4 Years ago)
Now the one thing i always made sure was paid on time was my mortgage with Nationwide.
My friend has decided he wants to move in with his GF, im much more financially stable, and paid him out the equity and continued to pay the mortgage my self.
Coincidentally i also have been offered a position in London and an planing on renting the property out.
The questions are...
1. Would i be able to change the mortgage into my own name with my poor credit rating?
2. Would my credit file effect my ability to switch to a buy to let?
3. Whats the best order to deal with this? Should i try change to just my name first? Should i switch to buy to let then remove my friend?
Any help would be great.