disadvantaged by the alliance and leister

Thrugelmir

skintmecol wrote: »

so the mortgage i would be porting is 252, buts thats whats left of a 270 mortgage.

5 times salary is a very high multiple. Credit boom days ratio.

Lenders on the whole are advancing on far lower multiples than this now.

2nd my credit score is spot on

Sorry to disagree but £27k plus of personal debt demonstrates an inability to manage ones personal finances. More telling than an Experian score, as greatly increases the chances of future default. It tells the underwriter a lot about the borrowers character.

surley thats better than going for an iva?

Your lender has its debt covered. So has no interest in anything else.

maninthestreet

Who, what or where is 'Lowley' ???

TighterThanTwoCoatsOfPain

skintmecol wrote: »

so the mortgage i would be porting is 252, buts thats whats left of a 270 mortgage.
2nd my credit score is spot on, so i dont have a bad credit history, i just have too many credit arrangements. hence spending my profit to get rid of a massive chunk of debt seems a resonable offer.
nothing is going to change, payments stay the same, i reduce debt.
i cant change mortgage as i have a penelty of 8k if i do. so moving to a smaller mortgage 252,not 270 and paying off 20k worth of debt would be the good thing to do? surley thats better than going for an iva?

Frustrating for you no doubt, however surely you can see exactly why they wont do it??

You default today and the bank have a lovely cushion to sell your house in a decliinding market and get THEIR cash back..

On the new house there isnt that margin for them and their risk goes through the roof...

They only have your word for it that you'll pay the credit card debts too....

I wouldnt imagine there is a bank in the land that would (or should) agree to your proposal.

Peelerfart

maninthestreet wrote: »

Who, what or where is 'Lowley' ???

Isn't she that girl who helped the ghurkas ?

beecher2

I think the OP needs to seek help to deal with his debt, and should be focussing on that rather than blaming the lender. Go over to the Debt Free Wannabee forum and post a Statement of Affairs, and get help on living within your means, as clearly at the moment you aren't.

Trollfever

My property has been on the market for two years,

This tells me that you have overvalued your property.

What happened with this?

https://forums.moneysavingexpert.com/discussion/comment/31035669#Comment_31035669

maninthestreet

Peelerfart wrote: »

Isn't she that girl who helped the ghurkas ?

No, that was Sue Lawley

Wutang_2

Peelerfart wrote: »

Isn't she that girl who helped the ghurkas ?

Possibly the song Kim jong Il sings in Team America?

Lowley...so lowley

kai666

skintmecol wrote: »

this has been sent to the ceo of the alliance and leister.


Dear Sir.
Firstly let me apologise for contacting you directly ,however the matter is to myself of some urgency. And i thought it only fair to include your as I'm also sending this to the FOS ombudsman,Daily mail newspaper and also Martin Lewis, who as you know is not in flavour with the banking community. So please take time to read this form a Lowley customer.


Having had a mortgage with the alliance and Leicester for over 5 years now ,(and I may add, been extremely happy with the service),I need to draw your attention to the events over the last 2 weeks, which have now pushed me to the edges of bankruptcy thanks to your staff and their incompetence.
My property has been on the market for two years, and I've been desperate to sell and rid myself of credit cards and there ever mounting interest rates. I was due to go bankrupt when a ray of hope appeared. a house swap!. all i needed to do was transfer my mortgage over. a mortgage that would work out exactly the same as i pay now, i would offer the 10% from the proceeds of the sale and have enough to pay my credit cards off, and become almost debt free, in fact a chance to become completely debt free within 2 to 3 years,An amazing feet considering the current financial crisis.
So having been given the go-a head by your staff, i applied for the transfer. both parties excited at the prospect of the exchange. This was Saturday 13TH June 2010. A few days later i had a pleasant call from your staff to say the survey was being" rushed through so we could progress". This was exceptional service. the survey took place, ( as arranged by the Alliance and Leicester!) still waiting for the paper work, i was told that the underwriters would need to cast there eye over it, but it shouldn't be a problem because i was borrowing less, and when my mortgage changes from its fixed rate in march it will drop by almost £500.
Brilliant!
I then find out that the Alliance and Leicester had been giving out an incorrect Telephone number, from the survey company. So i rang to change this error ( 28th.6.2010). baring in mind they had instructed the survey, had told me everything was fine and i was just waiting for paper work.
Imagine if you would for find out that the mortgage swap had been declined well before the 18th of June! yet nobody had passed on any information to me. the reason... affordablity ?? well lets look at the facts.
My property 310.000
Property to buy 280.000
My mortgage when first taken out 4 years ago 275.000
Mortgage today 252.000 meaning i would add 28.000 to make up the full price.
Leaving me with 38.000 profit. Even after fees, it runs to 27,000 enough to pay off my 3 credit cards, leaving me almost debt free!
The monthly mortgage would be exactly the same,in fact as stated earlier its due to drop by £500 in march.
Incidentally my salary is 52.000 as An Art Director for Sony.
So affordablity ????/ i don't thinks so, in fact a better financial situation i have been in, in the last 10 years! debt free for me,my seven year old son and my Fiance who is now disabled due to illness.

The Incompetence of this bank, shows no bounds, not only have they forced me to stay in a higher state of financial debt. they have also placed me with the choice of and IVA or bankruptcy in which case the banks lose out!
What's more disturbing is Not one member of your staff contacted me to tell me this. infact on the 29th of June. the alliance and Leicester wanted the survey to take place at my property! and where " adamant" this should take place???
I'm now out of pocket because the valuation was payed solicitors were instructed and i had to take two days off work to try and sort the mess out. im now being told it could take up to 56 days to get and funds back...if any!
Your bank has forced me into a no win situation, it has clearly disadvantaged me and my family, forcing me to stay in debt when i could have been debt free.Not to mention the dreadful service and customer relations i have experienced this week.
What is the banking sector playing at? it would seem you would rather see a member of the public go bankrupt than pay off there debt, or the simple fact that the property I was buying just isn't making you the financial return you want. What ever way you look at this you see a customer trying to help this country out by paying back his debts, but you'd sooner see them go bust. It would seem, nothing has changed in the banking sector and nothing Will and the only people paying for this is the man on the street. who i might add has bailed the banks out time and time again! I will be setting up a facebook page and will recommend to my friends and theirs alike to keep well clear.

If you do require anymore Facts, please don't hesitate to contact me. Thank you for your time.
regards

I see Sony don't expect high standards of literacy from their directors

Cannon_Fodder

£52k income, but considering IVA/bankruptcy ?

I see Sony don't go in for much in the way of ethics, either.

You over-leveraged in the first place, and now want other people to over-leverage themselves to give you "profit" that clears debts of your own making ?

Has to be a troll.