Remortgage advice

lottie_75

Hi

I have a fixed rate that is due to end Nov. I currently pay £675 interest only with SPML and they are quoting my new fee at £1008.63!!! I had issues with previous mortgage arrears, but have now been clean for 3yrs. In that time my credit file is spotless apart from the previous mortgage. I even managed to obtain a mainstream credit card and mail order catologues...all of which are bang up to date and no missed payments at all.

Would I have a chance at a more normal mortgage now or would I still be classed as adverse due to the previous mortgage? I have no CCJs or defaults.

Any help appreciated thank you.

koexelek

If you have been clear for 3 years, I think there is a good chance you could get a high street deal.
A lot of it will depend on loan to value, as the more equity you have, the better.

lottie_75

Thanks,

the property is worth 170000...identical house sold for that value 2months ago. We owe 121000.

I have just been in touch with my old broker so hopefully I will hear soon.

herbiesjp

Being under 75% LTV is a great help.

Being clean for over 3 years is even more of a help!

You should be able to move back towards mainstream rates, with the more sympathetic lenders - assuming you meet all their other criteria

koexelek

herbiesjp wrote: »

Being under 75% LTV is a great help.

Being clean for over 3 years is even more of a help!

You should be able to move back towards mainstream rates, with the more sympathetic lenders - assuming you meet all their other criteria

Agreed. If the more fussy big boys ( Nationwide, C & G etc won't do it) I am sure some of the regional building societies would look at it favourably.