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Remortgage as a discharged bankrupt.
Harryboy10
Posts: 4 Newbie
Hello.
I'm new to this so please go easy. Genuine question. We declared ourselves bankrupt 18 months ago. No other option available. We have coped with it without any serious problems. My main issue is. My fixed rate mortgage ends in November. It's 5.9%. Is it possible for me to obtain a better rate elsewhere or have I no chance due to the bankruptcy ? Mortgage with Accord of £215000. Joint income of £60-70000. Any advice/help would be greatly appreciated. Thanks.
I'm new to this so please go easy. Genuine question. We declared ourselves bankrupt 18 months ago. No other option available. We have coped with it without any serious problems. My main issue is. My fixed rate mortgage ends in November. It's 5.9%. Is it possible for me to obtain a better rate elsewhere or have I no chance due to the bankruptcy ? Mortgage with Accord of £215000. Joint income of £60-70000. Any advice/help would be greatly appreciated. Thanks.
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Comments
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Ask Accord what rates they have available to switch to as an existing customer.I am a Mortgage AdviserYou 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
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Accord and 1 other lender i think and your only options so early after youve been discharged. The other lender depending on LTV im doubtful could beat what your on. Accords SVR rate (the rate you will revert to) is lower than 5.19% off memory.I am a Mortgage AdviserYou 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
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Accord are probably the worst lender to be stuck with as their SVR is 5.99% which is horrendous.
Whats your property value?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 -
Current climate valuation could be anything. I paid £230000 for the house. I've never missed a payment and the reason for the BR was for debts off six years ago. With accord I think it will stay at 5.9%. But knowing that there are deals around 3% on the market is making me 'hope' I can secure one. Would getting a guarantor help in anyway ? Thanks for your help up to now.0
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With a recent bankruptcy you are not in a position to look at best rates.
Will Accord not let you move to another product on a like for like basis?I am a Mortgage AdviserYou 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
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