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Advice on Libor
col81
Posts: 338 Forumite
I have a £117500 mortgage on interest on with Libor I pay £385 per mont . I have 3 default dropping off in July and 1 in december the house is worth £130k and I earn £38k per annum. I want to remortgage and go on capital repayments am I best waiting 6 to 12 months or doing it now? I am also in a DMP which I owe £8k too.
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Comments
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Can anyone reccomend a mortgage advisor for this? Not sure where to begin0
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How long have you been in the DMP for?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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6 years with stepchange I owed £18k0
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Depending on the finer details and you being happy to hold fire until the defaults drop off in June, I think you stand a decent chance at normal rates.
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 -
Great that's brilliant to know. Who would I contact a local broker?0
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Pretty much, I would probably lead with the adverse including the DMP to see what they say.
If they lead straight in with a specialist bad credit lender then I would probably knock them on the head as you are borderline normal products if you get a decent experienced broker on the case.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.1 -
Brilliant. Not got a mortgage for 13 years so I will find a broker and email them. Help appreciated0
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Anyone know a broker I can use apparently lots on here??0
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