Need to remortgage ASAP- cant get good rates!

couteaux

Thanks for that info!! I'll make sure we both get our most recent reports to send them. I didn't realise that could be done. I'll also have a hunt for some more brokers.

Again, big thanks for the help!!

AndrewSmith

As a footnote,

3 years ago the iGroup redemption penalties would most likely have been 6 months interest within the first 4 years. It is what they used to call their '6 in 4 rule'. This makes your redemption penalty £5625 within the first 4 years.

They will sometimes waive this if you take another product with them but you have to increase the borrowing by at least £10,000 to qualify for this. NOT something I would recommend, just something to watch for in case you get a call from someone representing them offering a way out of paying the penalties.

Get a professional assessment of your situation including providing a copy of your own credit files to your selected broker. You will need to sit with them and go throught the credit files and your financial situation to ascertain where the issues lie. I fear this is not something that can be done 'over the phone'.

Hope this helps

Andy

tomstickland

I have around 20K I can sink into the house mortgage to bring down the payments a little - would this be wise?

I think so. Your mortgage rate is ahead of anything a savings account could manage and it'd take your borrowing multiple down.

herbiesjp

Just to re-emphasise.

Don't be rash and go applying everywhere.

This needs careful analysis and and informed decision made. Have a look at what else is out there, and what you would be eligible for..

Then take a look and make a true cost comparison - this will show whether or not it is better for you to leave or go.

I think this would be best suited with the aid of your credit files and an experienced adviser.

HTH