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Re-Mortgage - Bad credit history

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Comments

  • grayclose31
    grayclose31 Posts: 121 Forumite
    GREAT NEWS.

    I have spoken to the woolwich and they have offered to put me on a life time tracker at 1.9% abovd BOE rate. This means that my monthly payment will go down from £543 to £393.

    This means that the arrangements that i have had in place for the past 2 years with PAYPLAN and the second charge can stay as they are.

    I am so gratefull for the help that you have all offered.

    I am looking forward to having a conversation with my advisor and telling him what to do with his offer of 7.9%.

    Thanks again
  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    Well done - glad to hear you got a good result! :T
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • feisty1
    feisty1 Posts: 1,487 Forumite
    Seeing is believing............I would like to see the offer on this!.......
  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    feisty1 wrote: »
    Seeing is believing............I would like to see the offer on this!.......

    Barclays probably have not done a review of the finances and may not bother as the old mortgage arears were sorted over a year ago.

    I though most lenders do not do reviews when just switching deals.
  • feisty1
    feisty1 Posts: 1,487 Forumite
    uh uh...........this wont have gone to underwriting yet, it would be some nice helpful person answering the fone in the retention centre doing their job..........
  • feisty1
    feisty1 Posts: 1,487 Forumite
    getmore4less wrote: »
    I though most lenders do not do reviews when just switching deals.

    Most of the lenders are doing so now.......
  • grayclose31
    grayclose31 Posts: 121 Forumite
    I am very optermistic about this deal. It was explained that i had been overpaying for 12 months. As this is a repayment mortgage the O-P has been deducted from the total owed.

    I will update on Monday.

    Thanks
  • grayclose31
    grayclose31 Posts: 121 Forumite
    Job Done.

    Confirmed that i am now on a tracker for life at 1.9% above BOE rate.

    Brill.

    Starts fro 01.03.09
  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    Excellent news

    I bet you are glad you went to your existing lender now aren't you
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
This discussion has been closed.
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