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Remortgage why so hard!
Comments
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As you are the freeholder could you not just create a leasehold on your flat so you can mortgage the property and also means if you want to sell the flat later you could still retain the freehold of the property. It may cost you a bit in legal fees but at least it would make getting a mortgage easier.
A sensible idea which will ensure the marketability of the property in the future and open up the re-mortgage doors now.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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 -
TBH I'd have got the freeholder to do it before I purchased the property. I'm surprised solicitor acting for purchaser at the time didn't suggest it.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
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Thanks for all the replies. Our broker has found us a few providers which will lend on our property and having spoken to a few banks/bs I've found a few will with no issues (natwest & Abbey) and a couple just say no. Nationwide seem to be on the fence but the deal the broker got us was far better then any other and should have been saving us £120 per month. It seems like they just dint understand more than anything which is very frustrating, that and they never call us back which just makes me mad.
I have now spoken to santander and natwest this morning and both have said it's not an uncommon situation in our area and could offer us any of there products. Based on that I'm pulling the plug on nationwide and starting again.
In true English manner I shall write a strongly worded letter to nationwide. Not expecting my £90 back but I Dan but hope0 -
You should have started with your current lenders offerings then looked for something better.
Don't forget it is not just the monthly saving you have to factor the fees.0 -
getmore4less wrote: »You should have started with your current lenders offerings then looked for something better.
Don't forget it is not just the monthly saving you have to factor the fees.
We did, at the time natwests best deal was only £20 less per month where as we would have saved £120 per month wwith nationwide. Product fees were much dir much0
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