I like my mother in law...

***trumpeter***

... believe it or not! :-)

She's 75. Abbey National have told her that she can't port her mortgage of 15 years (£18,000, never missed a payment) to another house. She doesn't want to increase the loan, just to move to a house without steps (and with a few conveniences like handrails, sit down bath - she's found a suitable house).

I think Abbey is being completely unreasonable. But please don't waste time arguing if you disagree with me about that - could we please just stick to comments that might help my MIL?

Is there anything she can do? Thanks in advance for any pointers, suggestions, etc.

Best wishes, Neil

Thrugelmir

Abbey changed their age restriction to 75 (from 85) in 2009.

You'll need to think of an alternative plan.

***trumpeter***

Thanks Thrugelmir, that provides an explanation.

We'll start with the Abbey complaints procedure and take that up to the company directors. Then a letter to her MP, I guess. I wonder if Age Concern could help? Or maybe legal action on the basis of age discrimination? It strikes me that they've moved the goalposts long after the initial contract (and after the manager confirmed verbally - last year, of course - that it would be no problem for her to move).

Obviously I'm going to help her make a deal of this, though, so any suggestions with regard to the way forward would be appreciated.

Best wishes, Neil

Annisele

I suspect that some time spent with a whole of market mortgage broker would be more helpful to your MiL than time spent complaining to Abbey.

It sounds as though she just wants to borrow £18k - is there any particular reason it has to be from Abbey?

***trumpeter***

Annisele wrote: »

It sounds as though she just wants to borrow £18k - is there any particular reason it has to be from Abbey?

Thanks for your comment, Annisele, even if it is a bit depressing! I'd rather hear the truth, though :-) Yes, it is only £18k she needs and no, it doesn't have to be from Abbey.

Do you ladies and gentlemen think there really isn't even a potentially effective way forward for her with Abbey?

Best wishes, Neil

Senior_Paper_Monitor

No way with Abbey. Should be do-able elsewhere.

Evilm

I agree with the poster above saying go to a whole market broker to see if she could get a new mortgage for that amount with a new lender.

maninthestreet

***trumpeter*** wrote: »

....Or maybe legal action on the basis of age discrimination?

I think age discrimination laws currently only apply to the workplace.

sophievenusdoom

***trumpeter*** wrote: »

Thanks Thrugelmir, that provides an explanation.

We'll start with the Abbey complaints procedure and take that up to the company directors. Then a letter to her MP, I guess. I wonder if Age Concern could help? Or maybe legal action on the basis of age discrimination? It strikes me that they've moved the goalposts long after the initial contract (and after the manager confirmed verbally - last year, of course - that it would be no problem for her to move).

Obviously I'm going to help her make a deal of this, though, so any suggestions with regard to the way forward would be appreciated.

Best wishes, Neil

Though I am not an expert, and won't be able to provide advice or help, I agree with you. Surely they should honour the stipulations of her original contract, not change them as soon as they change their requirements for new clients??

blueberrypie

***trumpeter*** wrote: »

We'll start with the Abbey complaints procedure and take that up to the company directors. Then a letter to her MP, I guess. I wonder if Age Concern could help? Or maybe legal action on the basis of age discrimination? It strikes me that they've moved the goalposts long after the initial contract (and after the manager confirmed verbally - last year, of course - that it would be no problem for her to move).

Being allowed to port a mortgage has always been dependent on fitting the lender's criteria at the time you want to port it. That's the case for all lenders, and there's nothing you can do if your lender has changed its criteria (increased its required deposit, for example, or stopped lending on certain kinds of properties, or even stopped lending altogether).

Agreeing with SPM - go and talk to a whole-of-market broker.

Senior_Paper_Monitor

You are making an incorrect assumption Ms Doom (as was Mr Trumpeter) - porting a mortgage is not a fixed in stone contractual entitlement.

This is quite clear on any mortgage offer (I quote the current Abbey offer on my desk - "WHAT HAPPENS IF YOU MOVE HOUSE ? If you move house you may be able to transfer this mortgage to another property subject to conditions set out in the mortgage conditions booklet under 'transferring your loan to a new mortgage") - the OP's MIL's offer and any other will have the same or slightly different, but effectively similar, wording.

What in fact is happening is your are reaapplying for a new mortage (note the title of the section in the conditions booklet) and at the lenders discretion they will swap you a waiving of ERCs and set-up fees for a reduced deal period/term IF - and I stress - IF you meet the application criteria as they apply.

Frankly it would appear the MIL no longer meets those crteria.

I see no chance of Abbey backing down on their policy - and, since the actual objective is almost certainly do-able elsewhere, really suggest that any energy to be expended would be much more effective spent on that process.