Bank won't lend us additional mortgage funds

money_maker_3

Because Halifax staff have no access at all to BOS mortgages .. they can see all Halifax, TMB and very old Leeds branded accounts, but not BOS or LLoyds accounts

Thrugelmir

opinions4u wrote: »

One platform. One set of administrative costs. Just a different logo based on where the sale took place.

Not just a logo. The "brands" are all separate legal entities within the Lloyds banking group. Hence my comment about side stepping contractual obligations.

MarkyMarkD

geri33 wrote: »

Thank you all for your input so far.

Our current LTV is 30% with 4 years remaining on our current mortgage, on a fix with BoS until next Summer. We have a sizeable deposit to put down and would need 2.5 x income. Excellent credit ratings on both sides.



I checked the website too which is what led me to believe that "moving home" would not be an issue and of course we'd be able to get the mortgage, although as you point out new lending is at 6.99% which is fairly steep but would have avoided us paying out the ERC if we stayed with BoS.

I will give them another call as sometimes I have found in the past that members of staff do give conflicting information. The adviser did say though that any new mortgage would be with Halifax. Annoyingly, when you ring up Halifax and say your mortgage is with BoS they don't want to talk to you but give you BoS's number!

You wouldn't be paying their new 6.99% rate. You would be paying your existing fixed rate, or you'd have to pay the ERC. Any top-up borrowing would be at a new rate.