Is now the right time to re-mortgage

simpson_77

will qualify based on those details, just need to wait until the credit file is clear

frazell

Using the tool I posted based on 25 year term and £1500 fee, the difference in monthly payments is about £86pcm (two year fix) between Natwest and HSBC.

This doesn't take into account other fees that you might incur by moving from Natwest.

Natwest might lower their rates in the coming months if the interest rate drops further?

simpson_77

:beer:uuummm, that's £1k pa saving, might pester the broker again and find the likelihood of being accepted

SavingSteve

As per Frazell, it is a crystal ball job. But for what it's worth I agree, wait until end of July. If BoE cuts rates then better deals should arise between now and Oct. If it doesn't cut rates by then you can reconsider (and hopefully, no guarantees mind!, the offers currently on the table should still be there)

simpson_77

Quick update, one of the defaults (£16) has been removed after I queried it through the equifax query resolutions service. Would this change anything with the availability of mortages I would be entitled to or is it still worth waiting until the other default and missed payments (Jan 2011) are removed from my file?

cahillg81

Have you settled the default? Missed payments from 2011 unless on a Mortgage are not going to cause any issues.

simpson_77

Both were settled immediately in Jan 2011. i didn't actually know about the £16 BT default until last week when I checked my Equifax file, couldn't even say what it was for! it Is has now been removed, only took 10 days, there wast even any missed payment just no information then default

The other default was with Capital one for £600, To cut a long story short, Lloyds made a mistake and weren't paying the correct account, they resolved with £400 compensation and all late payments markers removed from my credit file. Unfortunately Capital One wont listen and have point blank refused to remove it. Hey-Ho it will be gone in 6 months.