Oakwood Home Loans!!!!!!!!!

penniesgrowintopounds

We were very lucky. We hadn't received an offer, tho' knew someone who had. So OH rang them and asked if we would be considered. He was told that they were sending out the letters in batches, but would bring our's forward.

We received the letter with the offer of the Early Redemption Fee waived, Mortgage Exit Fee waived and 15% of the outstanding mortgage balance. It was on a tight schedule of 8 weeks, but we managed to complete in time.

I would definitely try to negotiate a higher discount, as I think they have some flexibility ~ I understand that some people have been offered 20%.

Good Luck.

1-1_mortgage_solutions

Hi, hopethisisveryhelpful

I am an Independent Mortgage Broker covering all of UK; I have dealt with a number of Oakwood Mortgages. The discount that you get is based on your personal circumstances i.e. credit rating, type of property, Loan To Value and location of property etc Under certain circumstances your broker may contact Oakwood Home Loans and they may increase the discount originally offered on an individual basis however it is very unlikely unless there is a very good reason and is purely down to Oakwood’s discretion
Under special circumstances Oakwood Home Loans may also extend deadlines however this does not happen with most cases and I would advise that if you are lucky enough to get a letter from Oakwood Home Loans that you act quickly and immediately contact an Independent Mortgage Broker experienced in dealing with these cases.
If you have any further questions, pleasefeel free to click on my name (top left under date and time replied) and send me an email.
J

timbarson1

I spoke to Oakwood Homeloans today. I have had my deadline extended until the 31st Jan 09.

The 15% has been offered to me and if i can show to Oakwood that my properties loan to house value doesnt have more that was in it when first taken they will increase this.


cheers


tim

trunkytrucker

I've just spoken to Oakwood (paah!) and read them penniesgrowintopounds post of 28-11-08 to see if I am due an offer to go elsewhere. They said I am not showing on their system but I may do in Jan when my fixed rate ends. Does anyone know how I could find out whether or not I am eligible for this scheme? Could a broker get the info?
I cannot wait to get away from these people. I've read some horrendous posts on other websites about the way they treat their customers/court cases against them etc.

huntaz5

i have again today received an offer from oakwood re; 15% off excetra but when my broker looked into everything they wasnt a good deal anywhere and what i would have saved on my mortgage i would have paid out in extra on the new mortgage deal im in a catch 22 position. are oakwood in trouble? what happens if they go bust what happens to your mortgage

feisty1

huntaz5 wrote: »

what happens if they go bust what happens to your mortgage

They are mortgage brokers not lenders, they don't lend you the money to buy yr house, they arrange it.

feisty1

I do apologise I think I gave you the wrong information, forgive me!

adam1985_2

I was initially called in Sep 08 to see if I received the incentive discount offer, I naturally thought this was a wind up, so asked to be mailed with confirmation, this arrived in October 08, offering 15% off of my 106k mortgage if we completed by late November ( could not believe this, unheard off).

I had my property valued straight away and attempted to secure alternative BLT mortgage, this took a while due to lack of products, so finally contacted them in december stating that my property was valued at 100k.
Max buy to let is 75%LTV, they then offered 17% off, then 19%, now finally had my discount increased to 25%!!!!
:beer:
So I am having 26k knocked off providing I redeem by 27th Feb, cant believe this slice off good fortune!! The discount means my BTL flat now produces £150pcm of net income, again :beer:

I have used many tactics to increase the ammount that has been knocked off, more than happy to give examples/tips to anyone else if required, message me if need be!!!


Best Wishes
Adam1985

sapnin74

I have had personal experience with Oakwood Homeloans(same old story mortgage sold on by GMAC) and actually had my redemption penalties waved and 25% knocked off the amount i owed them, allowing me to remortgage and get a deal elsewhere at a better rate. Whether this was down to my personal circumstances or whether this was down to the people i had negoiating for me im not entirely sure, obviously i didnt question what was done for me. If anyone in the same position as i was wants me to put them in touch with the people i used im more than happy. Such a relief for me and my family to unshackle myself.
Anyway, my email is jamescov74 @ hotmail.com
Cheers

FLOWERPOT123_3

Please Can Anyone Advise Me How To Get A Discount As They Tell Me I Not Eligible,,i Am Delighted For All Of You But I Dont Understand Why Some Do And Some Dont,thanks