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2jobs wrote: »
This all drives me mad. :mad:I have quite a lot of equity in my property but because I am in arrears I can't change to a better deal! I have been paying them off for the last year. BUt there is still quite a way to go. Surely it would help me to pay back some of the arrears if my mortgage wasn't so high! I know it is all a risk factor for the banks but to me it's more like a punishment.
2jobs wrote: »
I understand another bank not wanting to give me a new mortgage - but what is frustrating is that the bank I am with( which has just put up it's SVR) won't let me change from the SVR because I have arrears.
gaz141 wrote: »
I don't get this at all
You have a lot of equity in your property?
You chose the mortgage deal that has allowed you that equity?
You have fallen into arrears?
You are complaining that you could pay back your arrears more quickly if the mortgage you signed up for which has given you a lot of equity wasn't so high?
What is it you are looking for? A nice payment break so you can keep on increasing your equity?
As much as I despise banks, I am enough of a realist to know that no bank is ever going to take your interests over their bottom line.
If you have such equity in your property, sell up, pay your debts and move on
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