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Car Finance after Mortgage Difficulty

  • 26-02-2019 2:39pm
    #1
    Dubcork
    Registered Users Posts: 1 ✭


    Hi,
    following redundancy from my job a few years ago and our three very young children at the time, my mortgage lender agreed to reduce the interest rate on my mortgage for 5 years which allowed a reduction in the monthly repayments. No payments were ever missed on the mortgage and last may we returned to normal mortgage repayments, following my return to work. All full payments have been made since returning to the increased payments. Besides the mortagage, we have no other borrowings/credit cards or missed payments. Our income has increased substantially.

    As my car is coming to the end of its days, we were hoping to organise some sort of finance over the next few months. I'm wondering how long the reduced mortgage repayments history will go against us? We will be paying the full mortgage a year by the time we look for finance and as said already, income has increased substantially and we have no other borrowings.

    Would appreciate any feedback. Thanks


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