Fixed rate ending,help needed please

trish123

Hi our fixed rate with nr ends in March.Just checked our credit files oh has a few late payments whereas ive just discovered i have a settled default from next.Been onto them to see about getting it removed but in the meantime who is our best bet for re morgaging with thanks in advance.

_Andy_

The default won't be removed, assuming it was correct in the first place.
You may find with your adverse credit you'll be better off staying with your current lender as they won't need to do any more credit checks.

trish123

Thanks Andy i did think that.

minnie123

Hi our fixed rate ended in October with Northern Rock - we couldn't afford to stay with them because their standard rate was ridiculous and our repayments were going to go up by about £400 monthly. Our credit was not perfect so we got an independent mortgage advisor and explained what we required and also gave her copies of our credit reports - pointing out all the negative areas. She said this was the best thing to do because she could then find a lender she thought would be willing to lend to us and also discuss things with them prior to help us along. We had to provide a bit more info but she managed to get us a good deal in the end. So my advice is see a mortgage advisor and be 100% honest about your credit rating.

trish123

Thanks Minnie.

worried_jim

read this-
http://news.bbc.co.uk/1/hi/business/7814057.stm

quote-Those who fix in at this point are likely to be the winners in the future as interest rates will have to rise, perhaps as quickly as they have fallen, once we begin to climb out of the recession."