Beacon Homeloans withdraw from new lending

Drea2904

We were the same when advantage withdrew new mortgages, we were over a month away from completion and I thought we were dommed but no we were ok thankfully as they had everything beforehand. This obv does not mean Beacon will be the same but our letter was outlined as above.
Hope you are ok SillySue and all other Beacon customers awaiting funds.

What I will say is that now 2 years down the line we are kinda stuck, our fixed rate is ending and we cannot get a fixed rate or new offer from Advantage, they will keep us on a variable rate which now is lower than what we were paying but dont know about wanting the risk of changes, will anyone else take the mortgage...who knows!!!

sillysue

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cw1717

HELP!!

Hi All,

We were in the middle stages of mortgage offer from Beacon but now this has happened!

Can anyone suggest any other sub prime lenders who will look at people with defaults - however we have a 25% deposit??

Please help someone!!??

Thanks All!

sillysue

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cw1717

sillysue wrote: »

Why do you need a new mortgage company if you had already had a beacon offer as that means you are business in progress so should be okay?
When did you get your offer from beacon?
Do you not think you will get your from beacon?
I am just waiting for funds to be released from b legal so i can complete & had mo offer in sept.

No i was literally a couple of days from the offer, it was with the underwriter!

Any ideas anyone?

sillysue

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greasemeupimworkingclass

Just had the rug pulled out from under our deal; 33% deposit, income well above average. Gutted to say the least. All seemed to be running fine: offer in principle, all documentation sorted, Beacon completed the valuation on Thursday (which means there is every chance we will not see the £500 they took out of our account the minute they had the chance) and today, the pants fell out of the deal. Nothing we can do and the broker assures me all avenues have been covered.

Gutted.