We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Bank refusing to let me fix
promoter
Posts: 10 Forumite
Hi
I called my bank wanting to switch from variable to fixed and was given the run-around. I was told I couldn't because I had missed some payments four years ago, that the policies were being reviewed and that I should call back in a few weeks! They were very vague and said that it had to do with risk-profiling. I can't see how this applies as I'm not looking to borrow additional funds. Just wondering if anyone else has had this problem or could offer an explantion.
Thanks
K
I called my bank wanting to switch from variable to fixed and was given the run-around. I was told I couldn't because I had missed some payments four years ago, that the policies were being reviewed and that I should call back in a few weeks! They were very vague and said that it had to do with risk-profiling. I can't see how this applies as I'm not looking to borrow additional funds. Just wondering if anyone else has had this problem or could offer an explantion.
Thanks
K
0
Comments
-
Banks move in mysterious and unfathomable ways.
Remortgage?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Perhaps the bank name would help. If its one with the best deals, but the pickiest criteria, perhaps they hope that a delaying "try again" is better for them, than a straight "computer says no, not with those missed payments", that leads to you going elsewhere...Act in haste, repent at leisure.
dunstonh wrote:Its a serious financial transaction and one of the biggest things you will ever buy. So, stop treating it like buying an ipod.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.9K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.5K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards