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Mortgage lenders called...
Sum77
Posts: 1 Newbie
Hello
I couldn't find anything on this on the forum, so sorry if its already up there.
I received a letter from my Virgin One Account mortgage provider asking me to call and talk to them about how I'm going to pay the rest of my term. Have got another 18 years.
I'm a little confused as I am not outstanding any payments, everything is up to date, but the letter sounds as if I'm behind. I'm out of work at the mo- starting a new one soon, but have been able to pay no problem.
I'm concerned they will be funny about me being out of work, despite still paying my repayments.
Has anyone else had a similar letter/experience? Do mortgage companies just do this to check all is fine after several years?
Many thanks
I couldn't find anything on this on the forum, so sorry if its already up there.
I received a letter from my Virgin One Account mortgage provider asking me to call and talk to them about how I'm going to pay the rest of my term. Have got another 18 years.
I'm a little confused as I am not outstanding any payments, everything is up to date, but the letter sounds as if I'm behind. I'm out of work at the mo- starting a new one soon, but have been able to pay no problem.
I'm concerned they will be funny about me being out of work, despite still paying my repayments.
Has anyone else had a similar letter/experience? Do mortgage companies just do this to check all is fine after several years?
Many thanks
0
Comments
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It may be that they have spotted no income and want to know what's going on and potentially prevent arrears/complications?0
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I would suspect OP is on IO with no obvious repayment vehicle.0
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Many banks are reviewing their interest only loans right now, and asking their borrowers how they intend to pay off the balance - I expect it's this they are interested in, more than how your are funding your payments right now.
Perfectly normal. If you don't have plans, they may encourage you to move to a repayment mortgageSo many glitches, so little time...0
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