Abbey - futher advance possible

sammyjammy

I need money to replace my roof NOW, its desparate, mortgage fixed rate not up for renewal until October, what are the chances of Abbey lending me £4k at their SVR for the remaining six months? Would they need to revalue etc, house worth £115k, mortgage currently £63k, affordability not an issue.

Sam

toonfish

sammyjammy wrote:

I need money to replace my roof NOW, its desparate, mortgage fixed rate not up for renewal until October, what are the chances of Abbey lending me £4k at their SVR for the remaining six months? Would they need to revalue etc, house worth £115k, mortgage currently £63k, affordability not an issue.

Sam

they'll usually agree it over the phone without any problems

mhay_3

the abbey take an absolute age about further advances though, maybe you should try an unsecured loan first with someone like northern rock/alliance and leicester where the turnaround is alot faster

sammyjammy

Thanks guys, I would love to try for unsecured loan but high street lenders wouldn't offer me a pot to **** in, thanks again I'll give them a call.

Sam

sammyjammy

Rang them up, all ok in principal, someone is ringing me back tomorrow to d othe application and should have the money within a couple of weeks (s othey say!) Thanks for the help.

Sam

noisypinkbubble

Not that it helps now, but Abbey offers any additional lending on your mortage at SVR as there's no fees applicable- it's then down to you to choose whether to put it on a product or not. The minimum term for the lending is 5 years, but as it's not tied to anything you could pay it off at anytime.