Remortgage to get away from Engage Credit

veravera123

I currently have a mortgage with Engage Credit. It was previously with Kensington & they transferred it to Engage. My rate was 4.6% and I was paying £520 a month. I not have had a second increase to 6.5% which means £618 a month. As I am in a variable rate with around 9 years left, I would like to move away but my credit history is only fair. What are peoples thoughts please, 2 interest hikes from them in less than 3 months is making me very nervous. Any advise welcome. 

K_S

@veravera123 On the face of it, it would make sense to remortgage away to another lender (even if it's a specialist one) both to reduce the interest paid and to fix for a period. Depending on the details you may also be able to increase the term if you want to lower monthly payments.

Whether or not you will be able to remortgage, and at what terms, will depend on the specifics, including your credit history.

I would recommend getting a copy of your credit reports, current mortgage details and speaking to a whole of market broker to get a realistic idea of your options.

You could start off with a broker on the MSE list here and (if they can't help due to your credit history and/or other complications in your requirements) then other brokers.
https://www.moneysavingexpert.com/mortgages/best-mortgages-cashback/#step3

veravera123 said:

I currently have a mortgage with Engage Credit. It was previously with Kensington & they transferred it to Engage. My rate was 4.6% and I was paying £520 a month. I not have had a second increase to 6.5% which means £618 a month. As I am in a variable rate with around 9 years left, I would like to move away but my credit history is only fair. What are peoples thoughts please, 2 interest hikes from them in less than 3 months is making me very nervous. Any advise welcome. 

veravera123

Thankyou very much for your reply. I will do that.

connor08

Hello there i am with engage credit yes another hike in price my fix rate ended july I managed to get a better deal under the mortgage advice beureux and things were going through ok managed to secure a deal with barclays and a good one at that and it was a capital and repayment . so last checks were going through this week with the application barclays lost the paperwork but we re submitted again engage gone and put something on my husbands credit file On the 8th of august and barclays have withdrawn i am on 100%benefits so its harder to find a lender . they knew we were moving away at the end of august they dont usually report to credit reference agencies until the end of the month but they registered on my credit file on the 8th of august they have stopped me moving away on purpose they are currently reporting fauls information on my credit file if they dont remove it i am stuck with them for 6 years until it comes off my credit file . 

connor08

i have told them that if they put anything thats not incorrect on my creit file they will withdraw no we wont do that and its a load of horse manure their statements are not clear . there are discrepancies . they dont send statements on time they send statements too late for that actual payment . 

Under data protection laws under uk you have the right to accurate personal data 
faulse reporting incorrect reports. legal grounds for a claim of negligence if the lender has failed to exercise reasonable care in reporting your data. Breach of contract if faulse reporting is damaging and unjustified please check all of your credit files not all of them are the same . With experian My credit score is 230 with all the others they are over 700 so please check with your credit files check my file are the best because it gives you all the companies and most brokers use check my file Currently i have brought this to the financial ombudsman service now because its not the first time they have told them to update My credit file and they have not done so . 

connor08

I have reported them to the Information commissioners office as they can look into this i have mentioned it to the fca but they cant take action unless they have more than one complaint about the business i have reported it to equifax they have removed the information of my report but have to wait 21 days for it to come off my husbands they need to get the business 21 days . even if you brought your count up to date tomorrow if they have registered anything in the last 12 months that will remain on your credit file so get it removed as soon as possible and ask them to update it . 

ACG

Get your credit report and speak to a broker.