Remortgage with BIG potetial problem

sazandy25

Thank you everyone for the advice so far, hadn't really considered staying with Accord but changing the rate. Something to definatly look into if made redundent.

As i've said before, I will know more Wednesday, just wanted to prepare for the worse and have some options ready.

The bit I missed out was that moving to ING direct would also be reducing our number of mortgage repayment years from 24 to 18. By still paying less a month. We tied into our last deal just before the credit crunch and thus have kind of paid over the odds for the last 3 years.

Would ING consider keeping keeping the mortgage offer they provide (if they do) but allow us to change the number of years back to 24 (reducing our monthly payments)?? Or will they need to do another complete mortgage application??

I think after the advice so far, we will have to tell them if made redundent, don't fancy being repossed if they found out.

Will we ever pay off this mortgage :mad::mad::mad:

holly_hobby

Amending the term should not be a problem, if your age on the date of redemption remains within their max age criteria.

Your property won't necessarily be repossessed by the lender, upon discovery of un disclosed data (actions taken will depend upon the severity of the case), instead if they take the hump, the more likely procedure will be to ask you to seek an alternative lender (within a specified time frame) - the big problem will come if you are unable to source one at that time.

As stated, you only need to advise of the redundancy IF you have been personally told that you will definately lost your position.

Hang fire until Wednesday when you will know for definate before you open any dialogue with your prospective new lender.

If it turns out that you are unlucky and will be losing your employment, stick with your current lender and look at alternative mge products with them.

Good luck for Weds.

Holly