Advice needed: remortgage with bad credit

loopy_lou_5

Hi Guys,


My Story:

We currently have a mortgage with Future mortgage and the fixed term has run out. I have a ccj and some defaults (5/6 years + old and all satisfied). OH has a few defaults expiring this year.

We approached a company called First Advice in dec'06 and they informed that a company called accord were in a position to help, we sent all docs required and then first advice came back and needed more info this has gone on since mid december and we finally told them to stop the application as the service we are being provided is rubbish (they were charging £500 after some haggling from £1000) and we will look elsewhere.

My question is could i approach another broker or FA to continue my application or start afresh with someone else.

Any feedback or comments gladly received.

LouLou

luckyfool

Accord "may" be willing to continue the mortgage with another broker subject to a letter of authority from yourselves appointing the new broker. More likely they would require the new broker to rekey it as a new application.

What type of documentation or information were they coming back for, and from your perspective was it the lender, or the broker that was at fault. It may be that your circumstances are unusual and the lender is asking for additional information or paperwork and this could not have been foreseen, or it could be that the broker did not ask you the right questions, collect the right information up front, or even place you with the right lender for your circumstances.

From the limited information you have provided it is impossible to say which. In my experience Accord are normally fine to deal with, and from time to time they do offer market leading Adverse Credit deals. They also have a valuable "Credit Repair Guarantee" which effectively guarantees access to their mainstream range of products at the end of your initial incentive period as long as you have maintained their mortgage. The downside is that sometimes some of their staff can be a wee bit fussy and ask for documentation that they really shouldn't be.