Abbey decline to port mortgage

rachelmorgan

need any advice!!! took mortgage out with Abbey in 2007 for a fixed rate til 2015, this I was told was portable, so now am trying to port the mortgage to a new property and they have declined me saying a default is to blame. This default is from 2004, so clearly was not a problem in 2007. The premium for cancelling mortgage is £6000 so it would seem they have moved the goal posts to try to get me to pay this. Is this legal help :mad::mad::mad:

VIGILANT22

Yes..................................the lenders have all tightened up on criteria...
Fair NO...Legal.....yes

beecher2

Porting isn't automatic and new lending criteria is used, not old. Your LTV may well be more of an issue now than it was then too.

happybroker

the bank's willingness to port is always subject to you meeting their current criteria I'm afraid. Abbey used to be famously flexible...you wouldn't believe some of the stuff they have agreed for me in the past.

There may still be a deal out their for you though so get a copy of your credi file and get some quality advice.

VIGILANT22

happybroker wrote: »

the bank's willingness to port is always subject to you meeting their current criteria I'm afraid. Abbey used to be famously flexible...you wouldn't believe some of the stuff they have agreed for me in the past.

There may still be a deal out their for you though so get a copy of your credi file and get some quality advice.

Yeah like paying a 6k ERC!....:T