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Screwed by santander
pocket-cat
Posts: 6 Forumite
Hi, I was tied into my mortgage with Santander and wanted to move. I contacted them regarding porting my mortgage and borrowing a bit extra for the new house, everything was agreed in principle. When applying 2 weeks later I was told they had changed their lending criteria and that they would not lend to me, giving me no alternative but to obtain a new mortgage elsewhere and pay them over £4k in fees (or not move!). I was never late or missed a payment in the 5 years I was with them. Do I have any claim to try and argue this or should I jsut swallow it. :mad:
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I often wonder if they do this just to put people in this position, to make an extra 4k from them mmmm.
I don't think there is anything you can do, I think you'll have to swallow it and never go near horrid Santander again.0 -
I don't understand what it is exactly that Santander have done except not advance the OP any more money (unless there was some explicit agreement that they would always be able to port their mortgage, and if they chose to leave there would be no fees)?suburbanwifey wrote: »I often wonder if they do this just to put people in this position, to make an extra 4k from them mmmm.0 -
No claim. In future try and tie your home moves in with your mortgage benefit period ending.
It's what I'd advise all my clients to do.The J is a Financial Advisor-This site doesn't check anyone's status and as such any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Always seek professional advice.0 -
What change in criteria has affected you?
They won't lend to you at all, or won't lend the amount you need?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 -
Which only confers a right to move the rate to a new mortgage, not a guarantee of the new mortgage being made automatically available.unless there was some explicit agreement that they would always be able to port their mortgageI 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 -
kingstreet wrote: »Which only confers a right to move the rate to a new mortgage, not a guarantee of the new mortgage being made automatically available.
Indeed....0
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