remortgaging

kazzl100

I’ve got myself into a bit of a bother with a re mortgage and I wondered if anyone could help me.

I have a mortgage with the nationwide and just come to the end of a fixed period in December 05. I started looking at alternatives and applied to the Britannia in September 05 as they were offering a better interest rate, cash back for Unison and a free fees package.

Anyway its all getting out of control as I am in the process of completing a land exchange (I am swapping a bit of land for a lot of land with a developer who needs my bit more than he needs the bit he’s giving me!), so the solicitors that the Britannia appointed can’t handle it, suggesting I use the same people handling the land exchange

Additional Cost Approx £600.00

The Britannia’s valuer insisted I had a structural survey done as he was worried about cracks. I got it done on the cheap!

Additional Cost £117.00


The trouble is that I am now committed to the Britannia and will have to pay a mortgage reserve fee of £349 whether I complete or not, its non refundable. When I have asked for this fee to be explained I got a load of nonesense answers about having to borrow the money and reserve it for me and pay interest on the borrowing until the funds are released to me.

I contacted the Nationwide and explained the problem and asked if there was anything they could do to help me get our of the Britannia deal and stay with them, ie waive their reserve fee, but they said they couldn’t because the Government won’t let them as its under the counter dealing and they have to treat everyone the same (ie rip them off).

Any suggestions of who I can bother next or where I can get some sensible advice?
I've tried the financial services people and a couple of other regulatory bodies, but they don't care too much so long as you get a key facts illustration giving you a rough idea of what you'll have to pay if everything goes well and a disclaimer that there could be other fees but we don't know what they are yet!

:mad: