Can I remortgage

campbeji

Hi all,

I have a question.

I currently have a mortgage with Accord mortgages, I am about 3 months in arrears with them and have been for years.

I can afford the monthly repayments, but I can't really afford much extra to catch.

They have a deferred repossession order on the hose, that has been in place for about a year and a half.

I have an arrangement to pay a little extra each month, enough to pay it all off by the end of term in about 12 years I think, but I am hoping to be able to pay more soon.

The mortgage is on the Standard variable rate, which is pretty expensive, but Accord won't move me to a cheaper mortgage product, if they did I could catch up a lot quicker.

Is there any way I could remortgage? (I don't think so) or is there any ideas about working with Accord?

Thanks Everyone
Jim

kingstreet

Does your mortgage account appear on your credit file? If so, does it show arrears as it sounds like the arrears have been capitalised if they won't be repaid until the end of the term with the rest of the mortgage?

campbeji

Hi,

Thanks for getting back to me.

The arrears do show up on the credit file. Accord refused to capitalise them. The reason that they wont be paid off till the end of the mortgage is that I am paying off the minimum I can each month. The minimum is based on the length of the mortgage. They wont let me pay the arrears after the end of the term of the mortgage.

Thanks
Jim