Arrears now cleared,how long to re mortgage?

ferry

We had two months arrears with Santander latest last year that have now been cleared.
Due to this we could not fix again anywhere despite the efforts of various brokers and are now on their SVR of 4.74% Despite a LTV of Around 40%.
Can I ask how long we should wait before employing the services of a broker to try for a better rate.
We unfortunately also have a creditor on a payment plan.No official DMP,IVA'S or CCJs

Also as a side question, how much value does a good LTV like ours carry these days with new lenders-if any?

Thanks as usual
F

amnblog

Your option is what Santander will offer you.

Mortgage arrears are a major no to secure competitive remortgage rates.

ferry

So we will never be able to migrate away from Santander at all?
The arrears are now clear but was wondering if there is a time span when other lenders will be prepared to listen to us?

Thrugelmir

ferry wrote: »

Also as a side question, how much value does a good LTV like ours carry these days with new lenders-if any?

Matters far more to a lender that you'll repay the debt without any problems. Debt recovery is very expensive. Margins on mortgage lending are very low. Equity just ensures repayment of the debt not the full cost of doing so.

ferry

Sorry to bump this but any advice or opinions on how long to wait before looking for a better deal now the arrears are cleared?

Thanks as usual