Thanks Kaiser. I wouldn't say the broker effected that loan offer, but I would questions whether or not he shopped around, as Start's rates were not the most competitive at that time (especially now). Whilst I understand that client may have not had much control over the circumstances leading to missed payments, I find I must be straight down the line with them as financial discipline is key................................................................................................................................................................. "Moving back from ‘sub-prime’ to ‘prime’ – how easily is this done? When taking out a mortgage with a sub-prime lender, most clients intend only to use their mortgage facility to ‘repair’ their credit rating. Where clients may have slipped up in the past on loan/mortgage repayments or they could not directly prove their income to mainstream lenders, they would have no other choice than to apply for a “sub-prime” home loan. It would have been the intention of every broker and client alike, that after, 24 months or so, the sub-prime mortgage would be refinanced back through a ‘prime’ lending institution like PTSB, Haven, Bank of Scotland, etc. However, there are conditions that must be adhered to before considering the switch back. 1. A sub-prime mortgage offers clients an opportunity to rebuild their repayment capacity and ultimately, repair their credit history. Therefore it is paramount that each and every monthly repayment for such is made on time, every time. A case with a full 24 months of repayments will appeal to the prime banks. 2. If the purpose of choosing a sub-prime mortgage was due to the client being self-employed and not having a minimum of two years audited accounts then it is important that they liaise with an accountant in order to get the correct advice and begin working towards managing their business accounts. This will result in being able to produce the necessary minimum of 2 years audited accounts a prime bank will require before allowing you to switch back. 3. There are several other reasons as to why one would opt for a sub-prime mortgage, amongst them being – not having the correct work/residency permits or buying out the council’s interest in one’s property. Again for these circumstances, it is a matter of keeping a clean profile with the new mortgage, not over borrowing on short term debt and attaining the correct requirements for the prime lenders. The importance of having strict control over your personal finances cannot be overstated. The sub-prime mortgage offers you a route back to a mainstream lender and only by keeping your finances in order can you look to benefit from this. Bearing in mind the higher interest rates charged by these lenders, a broker will look to move their clients back at the first recognisable instance. The sooner this can be addressed and completed, the sooner a client’s interest rate will drop resulting in lower mortgage repayments."