Mortgage offer

cmart021

manikm wrote: »

Jesus!

6.7 (approx - its late!) is certainly better, and will hopefully come down on a tracker too if rates drop.

Exactly. I think that part should not be to hard to change (I hope) Loan repayment still bugging me.

Seems like FA is voiding me, 'has clients all day'. Not looking to good.

Ross_Hampton

any loans are disclosed at beginning of the mortgage application and the amount of mortgage the lender will issue will be lowered accordingly, your broker should have done that and also stated the loan was not to be redeemed.

cmart021

Ross_Hampton wrote: »

any loans are disclosed at beginning of the mortgage application and the amount of mortgage the lender will issue will be lowered accordingly, your broker should have done that and also stated the loan was not to be redeemed.

I thought that. We were asked for how much the loan was for, how much we paid monthly and how long was left on the loan. This loan is our only debt as it was taken to pay for car etc outright rather than expensive car payments on top of a personal loan.

Bolt out of the blue. Can anyone see anyway the lender would just rule this out of the offer or am i dreaming?

cmart021

Update!

Phoned FA. Halifax has pulled all trackers for 95% LTV. 7.49 fixed for 3 years is the best rate we can get as FTB.

Feel like we are being bullied into this by the bank ( a bank which our taxes has rescued).:mad: :mad: :mad:

Going clean mad. That offer or nothing!:mad: :mad: :mad:


What do yous think???

Jett

When taking out my last mortgage, i encountered the same issue where the lender insisted on me paying off my loan first which only came to light last thing. the really frustrating thing was that it was a 0% loan / finance from a car purchase i had made a couple of years before and had approx 18 months to go.

Probably shouldn't be recomending this but hear goes..

I told them i paid it off, they didn't ask me for proof so i never paid it.

I know it was naughty and i'm not saying to do the same but it worked for me.

mic200202

If the offer is with Halifax while they ask for loans to be redeemed, they won't check to see if this has been done.They don't impose a requirement on the solicitor to do so.So if you decide not to repay this you're ok. Sometimes they put these clauses in depending on how the broker input data at the time of application - ie he may have entered this incorrectly, or he may have input this to enable you to meet the affordability calculator criteria for the amount you need to borrow.As long as you understand the implications to you of not repaying this ie your disposable income will be that bit lower you will be able to complete ok.

manikm

cmart021 wrote: »

Update!

Phoned FA. Halifax has pulled all trackers for 95% LTV. 7.49 fixed for 3 years is the best rate we can get as FTB.

Feel like we are being bullied into this by the bank ( a bank which our taxes has rescued).:mad: :mad: :mad:

Going clean mad. That offer or nothing!:mad: :mad: :mad:


What do yous think???

RBS do a 7.09 rate at 95% LTV FTB (i think)