First Active Mortgage Advice

Thrugelmir

poppy868 wrote: »

Any ideas? I do not have a copy of my original agreement so can't check out the small print myself...

Tomorrow their terms could have changed again. The mortgage market has rapidly tightened down this year and may well continue to do so.

Porting has always been at the discretion of the lender. Its not a contractual right. So the small print won't help you as it will be written to the lenders benefit not yours.

MoneyJuggler

Wow, that's really bad for you , sorry to read that - I haven't been in touch with them for a while as housing market so tricky, so have been waiting on our potential buyer to go under offer.

However, when they have taken me through rough affordability (twice now in last two years), they have said both times that its subject to full underwriting, which they don't want to do until we have an offer accepted on a place we want to buy, very stressful when it's hard to tell if there will be extra borrowing available, and/or if the rate is portable!

Also as Thrugelmir points out things can and do change so fast, so (optimistically!) might swing back in your favour again at some point.

Good luck and sorry I can't be more help, but thanks for posting your experience.