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Mortgage settlement offer
martin49
Posts: 8 Forumite
3 years ago my mortgage company offered £80,000 discount if I settled my full mortgage of £500,000 within the year. I wasn't in the position to do that, but am able to now. The mortgage company has since moved all its mortgages to another company, so Im not sure if the new company would do anything like this. Any ideas how to approach them with a letter?
Current mortgage is in arrears, and could settle within 16 weeks, if they gave a discount.
Current mortgage is in arrears, and could settle within 16 weeks, if they gave a discount.
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Comments
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if you have money to settle why are you in arrears? seems strangeI’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
& Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.0 -
We have had an offer on the house for £420,000 and would be able to accept if mortgage company will agree to settlement.0
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Ah so do you mean that you are due to be repossessed and owe more on the house than it is worth?
Otherwise i dont see why you wouldnt just clear the arrears?£2 Savers Club #156!
Looking for holiday ideas for 2016. Currently, Isle of Skye in March, Riga in May, Crete in June and Lake District in October. August cruise cancelled, but Baby due September 2016! :j0 -
Yes- have repossession order on house from last year, and the house is worth approx the mortgage we owe. The sale is through a Fast Buy company and the £80,000 would enable us to get somewhere else to live.0
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