mortage advice on missed payments

mary_poppins_4

I want to move house have the same amount mortage but just new house but I have missed a couple of payments at the end of last year and some in 2005, they was actually late but they classing as missed although I am all up to date since Jan. My current mortage lender will consider giving us one in a few weeks when we have made our 3rd consecutive (spelling) months payments, obviously no guarentees although by rights should be ok but then they said that when I first put my house on the market and then refused us. We have been offered another mortage from gmac but then we changed our purchase house (legal problems we had to find another house a couple of weeks after we got our mortage offer with gmac) and they have now said that the product we were to use doesn't exist and the interest rate has gone up by 1% on the new product.

Not happy and really stressed as I have had loads of other hassles with this house move. Please can anyone give me advice and I don't know if this is a normal thing with gmac to increase their rates by so much in a couple of weeks? Also if I sign all the paper work with gmac but in a few weeks time can go with my current much cheaper lender would I be able to get out of gmac if I hold off the move date or would I have problems.

Any advice would be greatfully recieved
Thanks loads

UK007BullDog

GMAC can do what they have done as they offered you on that house, but you changed to another house. Also due to the credit crunch they are pulling up the rates. If you go through with GMAC you will have to pay exit fees which are very hefty with them if you then break the contract.

Your current lender is who? If a high street lender it would be best to wait as their rates will be far better than GMAC.

However due to the credit crunch your current lender could refuse to keep you on if a high street lender due to your poor credit record.

If you now pull out from GMAC you will have to pay the survey fees and product fees as they are none refundable.