Re-Mortgage - Bad credit history

grayclose31

herbiesjp wrote: »

Why do you have to?

Have they said they are not going to offer you a simple product switch?

As i said earlier i have not contacted my existing provider due to the history and claim.

I can't believe that there isn't an organisatin who i can turn to to get advise if i have to go off the high street.

herbiesjp

Bank charge claims are separate

They should still be able to offer you a product switch

You have been given an option off the high street but you do not like it

I have given you another option with your current lender, but you do not like that either

feisty1

herbiesjp wrote: »

They should still be able to offer you a product switch

Woolwich will not offer a product switch where the client has a history of arrears on the account

grayclose31 re comment on "yr".......don't have so much attitude when people are trying to help u.........maybe explains why advisor took so long in getting back to u...................

_Andy_

grayclose31 wrote: »

Yes a re-mortgage. Current lender is the Woolwich/Barclays. I have an outstanding bank charge claim against Baclays for 8k.

I have not asked them yet as i was relying on my advisor.

Currently on standard rate.

Doesn't sound to me like your adviser is doing his job properly.

herbiesjp

feisty1 wrote: »

Woolwich will not offer a product switch where the client has a history of arrears on the account

.

Thanks for that

But are you saying that Woolwich would close the mortgage down?

Will the OP not be able to go onto their follow-on rate?

That would surely be better than the Platform deal

gogsboy

grayclose31 wrote: »

Thanks for your HELP. I am not looking for an ADVISOR i am looking for someone who has been in the same position or at least able to point me in the right direction.

I am quite sure i am not the only person on here in my position.

And you should spell it ''YOUR''.

I knew someone in a similar situation and an 'advisor' or 'broker' got them a mortgage using unorthodox measures I believe and I said be careful and when it came to the crunch the money was not available.

They went to Brittania instead, someone a broker would not advise, whole market or not as they are not included in 'whole' market, therefore pay no commision.

The good thing about them was they seemed to look at it on an affordability basis, might be worth a try if that's how they still operate.

With the crunch, perhaps not.

koexelek

herbiesjp wrote: »

Thanks for that

But are you saying that Woolwich would close the mortgage down?

they can't do that, can they ?

Assuming they let the mortgage just drift on to the SVR, there is no problem.

Let's face it, the Woolwich SVR will be far superioir to anything available elsewhere, taking into account credit history.

herbiesjp

That is what I thought

But I wasn't sure if feisty was making a different point.

My point to the OP was call Woolwich to find out, but they seem to want to dismiss this totally and go onto a higher subprime deal

koexelek

herbiesjp wrote: »

My point to the OP was call Woolwich to find out, but they seem to want to dismiss this totally and go onto a higher subprime deal

Which is completely insane and irrational

I don't want to cast allegations, but I am wondering if the broker has not made the OP aware this is an option, in order than he can sign up a sub prime remortgage with Platform instead ?

feisty1

quote=herbiesjp;18501443]That is what I thought But I wasn't sure if feisty was making a different point. My point to the OP was call Woolwich to find out, but they seem to want to dismiss this totally and go onto a higher subprime deal[/quote]

herbiesjp wrote: »

Thanks for that But are you saying that Woolwich would close the mortgage down? Will the OP not be able to go onto their follow-on rate? That would surely be better than the Platform deal[/quote

quote"I wasn't sure if feisty was making a different point."???????????
Applying for a new rate is different from follow on rate........ as the latter happens automatically...........
Many lenders have notes on accounts where defaults have occurred, so as soon as a borrower fones up for further borrowing/new deal a message is flagged up saying this won't be allowed. Some used to ask borrowers to reapply after a certain period to ensure account was being conducted satisfactorily............understandably in the current market this is not happening...........
I can't see where in my post I suggested the account would be closed down.............as I wrote quote "Woolwich will not offer a product switch where the client has a history of arrears on the account"
If you refer back I also sugested they remain where they are.