If the transaction has been broadcast then resetting multibit isn't going to help it get confirmations. What you want to do if you're worried about it getting confirmed sooner is to send out a competing transaction with more fees. To do that, I'd just import that privkey into some other wallet that doesn't know about the unconfirmed transaction and send again with a higher fee.
Thanks for the reply. This is the first time I have had a transaction not confirm. I am trying to learn the causes and the fix now in a hurry as it is a fairly large transaction. At least to me it is.
So sometimes transactions don't happen fast because the fee is set to low?
Can I export wallet out of multibit and into Bitcoin core wallet and then try and do what you suggest?
If I wait a couple of days will multibit stop broadcasting and just cancel the transaction so I can retry?
This transaction has been seen by 16 peers but still no confirmations.