ge money

pcboo

i remortgaged and i am struggling to pay the £750 a month which is the interest only as agreed by ge money. if i want to switch to a cheaper lender before june 2009 i have to pay over £6000. surely this should not be allowed.

~Beanie~

pcboo wrote: »

i remortgaged and i am struggling to pay the £750 a month which is the interest only as agreed by ge money. if i want to switch to a cheaper lender before june 2009 i have to pay over £6000. surely this should not be allowed.

Most lenders charge a fee if you leave or repay the mortgage before the end of a specified term and this would have been pointed out to you when you took the mortgage out. June is only 3 months away, can't you hang on until then?

betmunch

Why not?

I'm afraid its in the contract you signed so it is allowed.

There are tons of threads on here about this sort of thing.

Hang in there for a few more months and you'll be fine

Cheers

StuTheDon

Hi - did you not realise you could not afford this before signing? Also, the early repayment fee will have been outlined in the agreement which you signed as well.

To be fair, the lender has to allocate that money to you and if you don't or can't meet your obligations why should they be out of pocket?

Sorry to sound harsh, but all of the above needs to be considered before you sign anything.

pcboo

it is only recently that the payments are hard to make cos my hours have been cut

betmunch

I think you should get down to your local mortgage advisors office to discuss your remortgage away.

If your hours have been cut are you going to have enough income for a new lender to want to give you a new mortgage.

Good luck with it, keep us posted

Cheers