Posted on 27 January 2011 by tara
Currently I am on variable repayment mortagage and I want to get a fixed term mortagage at a lower rate. The current outstanding mortagage is £69000. Value of my property is at a minimum £130000.
However I have defaults on my credit file which have been paid off. I have never been into mortagage arrears.
You benefit from a low mortgage amount compared to the value of your property and your mortgage conduct will put you in good stead when looking for a new deal. You are correct in identifying the defaults as a possible stumbling block.
I recommend that you obtain a copy of your latest credit report from Experian or Equifax and then contact an independent mortgage broker to discuss your situation. There are still Lenders around who will look beyond the black and white of a credit report and look at your whole circumstances when making a decision. A good mortgage broker will know who to approach without leaving a trail of footprints further blackening your credit profile.
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