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When to approach a broker? at which point?

col81
col81 Posts: 338 Forumite
Fifth Anniversary 100 Posts Name Dropper
in Mortgages & endowments
I have 3 defaults (1 dropping off in 2 weeks and 2 in May 21). At what point do i approach a broker to look for a better deal for me is it a long process etc? I want to try and get a high street lender i currently owe £118500 and the house is worth £145000. thank you

Comments

  • MFWannabe
    MFWannabe Posts: 2,551 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Are you currently in a fixed term? 
    I would speak to a broker now and ask them your question and they will advise when it’s best to apply and to which lenders 

    MFW 2026 #50: £3,583.49/£25,000

    Mortgage:
    07/03/26: £34,418.15

    16/01/26: £56,794.25
    02/01/26: £60,223.17

    12/08/25: Mortgage: £62,500.00
    12/06/25: Mortgage: £65,000.00
    07/03/25: Mortgage: £67,000.00
    18/01/25: Mortgage: £68,500.14
    27/12/24: Mortgage: £69,278.38 

    Savings: £20,000




  • MovingForwards
    MovingForwards Posts: 17,178 Forumite
    10,000 Posts Seventh Anniversary Name Dropper Photogenic
    Agree with MFW, sooner than later as you know what your options are.
    Mortgage started 2020, aiming to clear 31/12/2029.
  • col81
    col81 Posts: 338 Forumite
    Fifth Anniversary 100 Posts Name Dropper
    No I am free to switch whenever but my defaults clear in May. Can anyone reccomend someone on here to approach? Appreciated
  • MovingForwards
    MovingForwards Posts: 17,178 Forumite
    10,000 Posts Seventh Anniversary Name Dropper Photogenic
    I used @acg to get my mortgage and will use him again when it's time to remortgage.
    Mortgage started 2020, aiming to clear 31/12/2029.
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