HELP! Advice needed on getting away from the dreaded Santander!!!

KaloKyri

I’m in need of some advice on what to do here!

I’ve been a customer of Abbey/Santander for over 20 years, with mixed views of the service. Up until today, I’ve persevered and simply ‘got on’ with it. But now, has come the time for change! Having learnt today (through me contacting them) that my Cahoot Flexible Loan Account is no longer active and that I’m (as per their decision) simply now in the process of clearing my balance, I’ll be damned if I’m going to stay on the agreed flexible loan APR when my loan simply isn’t a flexible loan.

Again, I’ve been careless over the years in respect of using too many products offered by Abbey.

Now that I feel I have no choice, but to make all attempts to leave Santander. This is where I need advice.

My current situation looks like this:

Abbey Loans 11000 outstanding at around 12% APR
MBNA 10000 outstanding at around 24% APR
Cahoot 5000 outstanding at around 18% APR

I’ve always paid my debts on time and believe my credit file is healthy. Admittedly my exposure is on the high side, but can anyone recommend the best route in shifting this debt to another lender?

Any advice would be much appreciated.

woody01

It is understandable that they have cancelled the flexible loan.
Assuming this is all unsecured debt, you have a massive over commital unless you are very very well paid £45K per annum would be a minumum so keep above water there.

Unless you get secured finance (which would be mad), i cannot see another lender giving you the credit required to transfer. It's simply too much of a risk.

KaloKyri

Hi Woody, I can understand them canceling the Flexible Loan, if the portfolio is being closed. My gripe is the fact that I've been paying a high premium APR simply for the flexible feature within the loan. Now that there is no flexible feature, surely my loan should be on a fixed loan APR?


I've been in and out of debt for 10 years now without ever having a single default on any loan or mortgage repayment I have to make. My salary is around £42k P/A and I have an additional further income of around £10k via rental returns and private work.


I don't feel out of my depth (but getting close!) and I have been making small but successful attempts to reduce the amount. I just feel should there be a way to move from one lender to another, this would be the time to do it. Hence the request for advice on the best possible lender to turn to. [FONT=&quot][/FONT]

Coveredinbees!!!!

If your earning so much why the hell are you in so much debt.

no_more_cards_for_me

Coveredinbees!!!! wrote: »

If your earning so much why the hell are you in so much debt.

Probably a desire to show how "successful" the OP is and out do the Joneses nextdoor :rotfl:

Just like everybody else, sooner or late you have to pay it back.

Guess it's sooner in this case. :T

KaloKyri

Is that really any business of yours?!?!?

Wow, I’ve asked for some advice on switching lenders! NOT to be questioned on my predicament!!!!!!

But, if it makes you feel better, here goes:

I own 2 houses, 2 old Victorian houses, both of which have needed serious urgent repairs in the past 2 years. It’s truly been a case of bad luck and needing to fix the problem ASAP.

With all due respect, I don’t need any further criticism on the state of my finances, I was asking for some advice on switching lenders.

KaloKyri

Anyone out there that isn’t bitter and maybe able to offer some advice?!?!?!

no_more_cards_for_me

Sorry, my heart bleeds for you

Maybe you should sell one of the houses and pay your debt off.

Why do you need two houses ? Couldn't you find one in a decent state of repair. Or where you looking to make a quick buck and got caught out.

KaloKyri

LMFAO!!!!! Wow, you really are very sad! I feel very sorry for you! Maybe this wasn't the best place to ask for advice!

Come on! What's the criteria for being taken seriously here?!?!? I suggest you read back through the posts, the rental yields are returning a profit.

I'M SIMPLY ASKING FOR ADVICE ON SWITCHING LENDERS!!!!!!!!!!!

KaloKyri

Martin! If you're out there, ave a word!!!!! I didn’t sign up for this LOL!!!!!!!!

ILW

KaloKyri wrote: »

LMFAO!!!!! Wow, you really are very sad! I feel very sorry for you! Maybe this wasn't the best place to ask for advice!

Come on! What's the criteria for being taken seriously here?!?!? I suggest you read back through the posts, the rental yields are returning a profit.

I'M SIMPLY ASKING FOR ADVICE ON SWITCHING LENDERS!!!!!!!!!!!

I think what people are saying is that you may have trouble finding a lender that will take you on, as on the face of it you are not that good at handling your finances. This is not a judgement, just a matter of fact.