We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Changing lenders...oooh my head hurts
Starsox
Posts: 1 Newbie
Reet.... Anyone else having this problem n where the hell does the consumer stand with these new regulations???
Been to our mortgage broker (it's an estate agent scheme we entered where we can get all our mortgage needs ...sort of... Sorted) so 2 super fast years have passed and our current mortgage deal is coming to an end and we have started the jolly merry go round of trying to find a better deal by switching lender.... Hhhmmmm .... First one on the brokers page was great ... It took 8yrs off our term but put the repayments up by £10 its nothing at the moment after outgoings we have between £600-£900 per month ..... But the lender knocked us back as they thought our outgoings were too much rolled in with these new affordability guide lines ... So I'm thinking if we are unsuccessful in getting a mortgage with a different lender whats to stop our current lender charging what the hell they like knowing we can't get out? Where do we stand .... I know we've only tried the first on the list so there's still hope yet but at the end of the month our mortgage will go up by £80 ... So where does sensible lending come into that ooooh no you can't lend money off us because your payment will go up a tenner you best stop with your current lender and pay £80 more and not have a reduction in term ???! Country's on its a@#e ...... Lol fingers crossed we will get sorted....:rotfl:
Been to our mortgage broker (it's an estate agent scheme we entered where we can get all our mortgage needs ...sort of... Sorted) so 2 super fast years have passed and our current mortgage deal is coming to an end and we have started the jolly merry go round of trying to find a better deal by switching lender.... Hhhmmmm .... First one on the brokers page was great ... It took 8yrs off our term but put the repayments up by £10 its nothing at the moment after outgoings we have between £600-£900 per month ..... But the lender knocked us back as they thought our outgoings were too much rolled in with these new affordability guide lines ... So I'm thinking if we are unsuccessful in getting a mortgage with a different lender whats to stop our current lender charging what the hell they like knowing we can't get out? Where do we stand .... I know we've only tried the first on the list so there's still hope yet but at the end of the month our mortgage will go up by £80 ... So where does sensible lending come into that ooooh no you can't lend money off us because your payment will go up a tenner you best stop with your current lender and pay £80 more and not have a reduction in term ???! Country's on its a@#e ...... Lol fingers crossed we will get sorted....:rotfl:
0
Comments
-
Could you do the mortgage you found over a longer term, but overpay to bring the term back down?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
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247K Work, Benefits & Business
- 603.6K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards