Abbey decline to port my portgage

Thrugelmir

unlimited5 wrote: »

I dont want flexability or an SVR mortgage!

But you expect them to cancel an ERC charge.

No pleasing some people.

opinions4u

unlimited5 wrote: »

I agree I did choose the product and I have also chosen to stay with them!!! I dont wish to repay I want to take it with me and increase it to cover the cost of the new house. My credit has improved so I dont see how Abbey are not prepared to accommodate me.

Because the have changed their underwriting criteria? Because your LTV has changed? Because you want to borrow more?

My earnings are more than sufficient and my credit history was fine when they agreed to take me on. It seems to me that it is more profitable for them to say no than take me on with the new property...

Actually your credit history was not fine. You state yourself that you "got divorced 5 years ago and accrued some defaults on my file". I would argue that they were a little generous in giving you the mortgage in the first place.

I dont want flexability or an SVR mortgage!

Cake and eat it then.

You can look at it as some sort of deliberate conspiracy to stop you porting. It almost certainly isn't. Your proposed new loan doesn't meet their lending criteria so they are declining you.

You can stay in the same property with the same mortgage or move to a new lender and pay the ERC. They never guaranteed you a mortgage when you moved. The guaranteed you a product if you met their underwriting criteria when you moved. Which you don't meet.