How long before I can get a decent rate?

stevewhite

Hi there.
As some might of read already due to a default me and my partner are struggling to get a mortgage with a decent rate, so we are looking at other options, so my question is how long will it be before mortgage companies start offering better rates, if we sign up for a higher rate offer for people with defaults and pay on time will this help when someone does a search say 2 or 3 years down the line.

Many thanks in advance

Steve

okborednow

As i understand it the further away the defaults are the better and the more likely you are to get a decent rate. You would need to have an exemplary credit record going forward though. Stay out of any overdrafts, pay more then the minimum balances or even pay off any remaining credit cards and possibly even try to overpay your mortgage so you'll have a higher ltv which will also help when the time comes to remortgage

ACG

I said on your last thread... sit down with a decent broker.
You may have options other than GE. In theory you might be able to get an ok rate - not market leading, but for that you will be waiting atleast 2-3 years.

Until you sit down and let someone look into it you wont know whats available now.