Remortgage Guide Discussion

GPO888

Can Anyone Outthere Recommend A Bs Who Could Do Me A Good Deal On Re Mortgage Gpo888

house5

newbee wrote:

I am getting married in November of this year and the funding for this is to come from the remortgage of our property. However we need the funds prior to Oct 2005 and still have redemption penalties on our existing mortgage until May 2006.
We have been advised not to take a secured loan as the interest is added to the balance immediately and therefore should we leave the mortgage to May 2006 to then remortgage to pay off this loan all of the interest would be due - I am worried however that this advice has been given by Financial Advisors desperate for their fee from a lender due to a remortgage.
Our cirrent rate is 7.4% and we have been offered a remortgage with a different company of 7.2% approx our redemption penalties would be around £3500. And we're in the unfortunate situation of having a less than brilliant credit score.

Please help - any advice would be great x

does anyone know of anyone who has ever been able to make a claim to get the redemption charges back and won there case as this is what i want to do after i have just completed a remortgage which i have been charged a redemption of juct over £5000.00

please reply

sharonincambridgeshire

Just a quick whinge as a new member to this site! I took out a 5 year fixed deal with the Chelthenham and Gloucester in Sept 2006. My husband has been offered a job in Canada and we plan to sell up and move ASAP. the mortgage company want £9400 as an early redemption fee. Yes i know we signed up to the deal but...
we have been loyal customers for many years I think this payment is rather excessive. Any ideas ???

sah10406

I just tried to download the Remortgaging Guide and got the Regular Mortgage guide instead. Both links take you to the wrong guide. Can it be fixed ASAP, or can someone email me the correct PDF?

Thanks

sah10406

I figured it out by trial and error. When you have opened the link to the PDF download, click in your browswer Address bar and amend by hand the last two numbers in the link to "46".

What a palaver.

morgan

Remortgage!!! 5 years to go to finish my mortgage... they would not want to know:D
Abbey ugghh!!!!!!!!!:eek:

jedimonkey

sharonincambridgeshire wrote: »

Just a quick whinge as a new member to this site! I took out a 5 year fixed deal with the Chelthenham and Gloucester in Sept 2006. My husband has been offered a job in Canada and we plan to sell up and move ASAP. the mortgage company want £9400 as an early redemption fee. Yes i know we signed up to the deal but...
we have been loyal customers for many years I think this payment is rather excessive. Any ideas ???

Did you not read over the paperwork before signing it ???? It would have been clearly stated what the penalty would be.

ikr2

Sad to say but this is likely to be the case. We have a 5 year fixed term C&G with the fixed bit due to end this year. Early redemption penalties are the way that mortgage lenders make sure they are offering a "fixed" product. When you take one out you need to be aware that the lender doesn't want to switch mortgages in those 5 years if interest rates fall. It's part of their business model to make the fixed mortgages worthwhile to them.

Having said that, C&G should have made you aware of this when you took it out. They did with us.

jaafarabomohbasim

MSE_Martin wrote: »

Hi Folks,

Whilst I understand what you are saying. Unfortunately putting it in PDF isn't possible. As you'll note this isn't just a MSE publication - it's agreed with a sponsor and I need to play fair with them. (I want to do more guides in the future and the only way to pay for them and the resource for them is via this way).

We've secured 15,000 more and they should be around pretty quickly. I'm really sorry people didn't get.

However in the meantime the online mortgage guide is 5,000 words long - all the core info is there and if you read it in conjunction with

"sneakily get the best mortgage advice for free"
and
"how to choose between a fixed and discount rate"

You'll be very close to the final guide itself.

Martin

Hi
I wonder if you can advise me with regards to my second home remortgage
I owe 35000 pounds on my second home and pay the full variable rate of 7.5% from halifax (repayment) at the moment.Can you advice me with a better offer including interst only option,
Thanks and your help is much appreciated
jaafar

Matari

Hi Can anyone point me in the right direction for the pdf?

Thanks