Abbey (Santander) Mortgage Help - Recent Experience

Conrad

littlekatiem wrote: »

is that not the idea of it being portable. otherwise the offer of a portable mortgage means nothing.

That's a common misconception.

The terms are portable as long as the client meets current lending criteria, otherwise you would get yet more mis - selling scandals with headlines such as "Abbey allowed unemployed drunk a mortgage".

When you port a mortgage you are still arranging a BRAND NEW mortgage as if you were a new customer.

I suggest you put in a serious complaint given you only have about 15 working days left!

Happy-chick_4

I'm an ex Santander mortgage adviser. I sympathise with all of you. The problem you have is that no one knows what they're doing! They change their lending criteria so often that a mortgage could be agreed one day - the next day it doesn't meet criteria. Remember the mortgage adviser isn't the underwriter, all they're doing is putting in the info you provide - almost a data input clerk. The underwriters are sat somewhere down south and they make the decisions. Their word is final. Remember also the mortgage doesn't make the lender any money....it's the add ons. Insurances, bank accounts and credit cards are what makes them money. What the idiots at Santander don't realise is that when you come in to buy a house a credit card is the last thing on your mind. All I would suggest I'd steer clear. If you're in a deal seriously think about saving that little extra to pay off the penalty. You have a bunch of morons running the company and total idiots as regional managers.

Qadeer_Ahmed

Mark 1,

It's poor advice, they should have looked at your current arrangement and informed you that as you are on interest only mortgage you cannot get further advance on these basis.
It's always best to go direct to the branch rather than making calls to call centres because level of expertise/common sense at these centres is none.
It might be best if you look at a secured or unsecured loan options or change your mortgage to capital and interest it your finances allow.

kingstreet

Qadeer_Ahmed wrote: »

Mark 1,

It's poor advice, they should have looked at your current arrangement and informed you that as you are on interest only mortgage you cannot get further advance on these basis.
It's always best to go direct to the branch rather than making calls to call centres because level of expertise/common sense at these centres is none.
It might be best if you look at a secured or unsecured loan options or change your mortgage to capital and interest it your finances allow.

That particular post is from 18/2/2012 and the poster has not returned here since that date. Your response may go unanswered.