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The Mortgage Works / UCB
tommay
Posts: 85 Forumite
If anyone has a mortgage with TMW and plans on doing further lending with a seperate company do it quick because soon TMW won't consent to second loans secured on the same property.
I imagine UCB going the same way too.
I imagine UCB going the same way too.
0
Comments
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Thats a bit nasty.. are they allowed to do that?
I mean they could charge you an extortionate rate of interest without any choice for you. Or is this thier way of shedding risky customerstribuo veneratio ut alius quod they mos veneratio vos0 -
Yeah they're allowed to it.
It doesn't mean they can up their rates because you can still redeem and leave. It just stops you taking out another loan secured on the same property. Reasons behind it are basically the "second charge" companies are too trigger happy on repossessions and it's not a good market currently to be selling repossessed homes.0
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