A little help info please

Bluerover

Can anyone help a chap at work had a few poblems with his mortgage and went into arrears however sorted somethin payment wise with company and paid back arrears plus regular payments. This happened last June. But cleared arrears in October so I would think his history would show he has not missed a payment since last June - he is considering remortgaging I said either wait till June when he has 12 months mortage payment history, or at worst until April when he has two months missed payments

House value approx £130,000 mortgage £24,500 - no other debts would he be considered by anyone before June would you think he would like to raise a little extra capital to take his Mom on holiday as she has been given a "terminal" diagnosis by the hospital. so the quicker he acts the better chance of her getting away with them.

Chelsea building society offer poor credit mortgages minimum £40,000 2 missed payments in 12 months 1 in 6 months. H would like to borrow approx £10,000 - £15,000 to do a couple of alterations to their home for his mom ie downsairs loo and a holiday of some sort.

Merlot

I'Ve copied and pasted a part of an article from Martin, I can fully recommend L & C. I would try now for a remortgage L & C will proably advise your chap at work if its a good time to remortgage or wait.


There are many great local, small, fees-free, whole-of-market brokers in the UK. Find one in the phone book, give them a call, ask the questions and then go face to face, that way. Obviously, it's impossible for me to review every one of them, so I've concentrated on the four predominant UK-wide mortgage brokers; Charcol, Savills, Chase de Vere Mortgages and London & Country. All are true ‘whole of market' operators, the difference is in their charges.
Of these London & Country</U> is fees free for all its operations and Charcol is fees-free via its special Charcol Direct phone service; though not for in person advice. Do beware though, Charcol's online service, while also being free, uses a panel of lenders rather than being truly whole-of-market; so you’re better off going to it on the phone.
Special Note for those with Credit Problems

If you’ve had credit problems whether mild or severe (see Your Credit Rating article) and are trying to sort a mortgage; be very wary of going to the ‘specialist poor credit’ brokers who advertise everywhere. These are often very expensive and charge high fees as their customers tend to think that’s all they can get. There’s absolutely no need to go to a specialist though; most normal brokers also deal with what’s called the ‘sub-prime’ market too and at the same fee rates as they normally charge. So simply follow the guidance above to pick a broker.

Bluerover

Thanks very much for the response to the post.

In essence he has no other debts
Mortgage under £25,000 property value £130,000
No arrears and a no missed payments since June1st hopeful that may make him an attractive option to someone.
Thanks I will let him know.