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Re-Mortgage potential arrears problem
piker
Posts: 6 Forumite
Hi Everyone,
Wondered if anyone could give me some advice on overcoming a potential fly in the ointment when its come to re-mortgaging which I intend to start doing approx june/july time of this year.
Due to being self-employed in the past I had to take out a self-cert mortgage with the Stroud and Swindon mortgage co which ends in August 06 and I am currently paying £945 per month and have outstanding mortgage of approx £104k. The good news is that I am in full employment with a good basic salary of £26k and have been with my present company for 2.5 months and will pass the 3month probationary period shortly. The bad news is that despite great efforts to keep upto date with this tremendous and painful mortgage payment I fell behind with 2 months payments through no fault of my own, however I am paying back the arrears lilltle by little each month.
My plan of action is to approach my present bank ie the abbey or am I wasting my time even though I have a good well paid job. I imagine my present lender will also drop their rate to try and keep me with them etc.
I also still have 2 defaults registered which come off the account in 07 and have both been satisfield.
What are my chances of getting a good high street rate etc.
Appreciate any comments - Thanks.
Wondered if anyone could give me some advice on overcoming a potential fly in the ointment when its come to re-mortgaging which I intend to start doing approx june/july time of this year.
Due to being self-employed in the past I had to take out a self-cert mortgage with the Stroud and Swindon mortgage co which ends in August 06 and I am currently paying £945 per month and have outstanding mortgage of approx £104k. The good news is that I am in full employment with a good basic salary of £26k and have been with my present company for 2.5 months and will pass the 3month probationary period shortly. The bad news is that despite great efforts to keep upto date with this tremendous and painful mortgage payment I fell behind with 2 months payments through no fault of my own, however I am paying back the arrears lilltle by little each month.
My plan of action is to approach my present bank ie the abbey or am I wasting my time even though I have a good well paid job. I imagine my present lender will also drop their rate to try and keep me with them etc.
I also still have 2 defaults registered which come off the account in 07 and have both been satisfield.
What are my chances of getting a good high street rate etc.
Appreciate any comments - Thanks.
0
Comments
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You need to see a whole of market mortgage broker who can explore your situation in more depth. without asking too many personal questions on here its hard to give you accurate information.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.0 -
Thanks for that bit of advice.
Cheers!0
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