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Declined mortgage by existing lender..?

chalkstorm · 2009-01-26 21:08:28

Hi all First post here so be gentle....:o Just coming to the end of a 2 yr deal with current lender (IF) - and have applied to change mortgages onto another deal (a 3yr tracker) - and convert the mortgage to a repayment (was int only). Just got in from work to find we've been declined... and am confused. Both wife and I…

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chalkstorm Posts: 10 Forumite

28 January 2009 at 4:42PM

Thanks guys - it is a hefty mortgage.... so the £999 is worth it (done the sums). The LTV is possibly the issue - and from memory they valued it pretty poorly 2 years ago when the mortgage was new... so in the current climate, could well be more than 95%

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