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Turned away, is it worth bothering?
huzzer84
Posts: 77 Forumite
Hi,
I've just had a call with a whole of market, fee-free broker who has advised that it is not worth me pursuing this. My case handler at L&C has not responded to emails, phone calls, etc, which makes it sound as if they also don't think there's anything in it for them.
Property 1:
Myself and wife own and live there, <60% LTV, I've just had mortgage offer from N&P for 5 year fix, 2.59%, £295 fee
Property 2:
Owned by me and mum, only lived in by mum. Halifax agreed to lend on residential basis on two year fix that ends 31 August 2013, on mortgage agreed through broker L&C. Follow on deal from Halifax currently looks like 2.69% for 2 years, no fees (or an uncompetitive 5 year fix). Property value 150k, outstanding mortgage 83k. I'm 29, mum is nearly 56, term remaining is 18 years. Repayments are comfortable, and there will likely be scope to slightly overpay going forward, but current payment is £492/m, will only be able to commit £100-200 p/m extra.
Anyone think getting better than the Halifax 2 year fix is something worth fighting for, and is anyone up for that fight?!
I've just had a call with a whole of market, fee-free broker who has advised that it is not worth me pursuing this. My case handler at L&C has not responded to emails, phone calls, etc, which makes it sound as if they also don't think there's anything in it for them.
Property 1:
Myself and wife own and live there, <60% LTV, I've just had mortgage offer from N&P for 5 year fix, 2.59%, £295 fee
Property 2:
Owned by me and mum, only lived in by mum. Halifax agreed to lend on residential basis on two year fix that ends 31 August 2013, on mortgage agreed through broker L&C. Follow on deal from Halifax currently looks like 2.69% for 2 years, no fees (or an uncompetitive 5 year fix). Property value 150k, outstanding mortgage 83k. I'm 29, mum is nearly 56, term remaining is 18 years. Repayments are comfortable, and there will likely be scope to slightly overpay going forward, but current payment is £492/m, will only be able to commit £100-200 p/m extra.
Anyone think getting better than the Halifax 2 year fix is something worth fighting for, and is anyone up for that fight?!
0
Comments
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2.69% for a property you don't live in and where the other borrower will be after retirement age at the end of the term?
Stick with it.0 -
It can be placed but by the time you take into account the time spent processing along side any fees its probably not going to be easy to beat and even if it can be - probably not enough to go through the hassle of going to a new lender.I am a Mortgage AdviserYou 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.0
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