Re-mortgage, now age is an issue

SuzieSue

JustinR1979 wrote: »

amnblog - As I'm booked in, I could just ask a few questions, come home and do it online?

I would be very careful as I think once you've started the advice process you won't just be able to change to no advice.

JustinR1979

What if I literally just ask the question - has 75 changed to 70, and once they say 'no' like the 3 on the phone did, walk out, come home, and do it online?

SuzieSue

JustinR1979 wrote: »

What if I literally just ask the question - has 75 changed to 70, and once they say 'no' like the 3 on the phone did, walk out, come home, and do it online?

I'm not sure, all I know is that since the MMR, lenders are much more inflexible and are making up all sorts of rules which defy common sense.

JustinR1979

SuzieSue wrote: »

I'm not sure, all I know is that since the MMR, lenders are much more inflexible and are making up all sorts of rules which defy common sense.

On the phone they all said it's just the term ending, and you're going onto another one - you could tell they all thought I was p!ssed!
I didn't foresee an issue with popping in until now.

Dave_Ham

There are still lenders (rightly or wrongly) which would potentially do this in your own name and taking Dad off.


Aside from this, as implied do be careful who you speak with at Nationwide as if they start the advice process you could start seeing issues.

JustinR1979

That's interesting. Looking at overpaying £100 a month over 5 years it would bring it well under 4x wage when term is up, so only have to get through this term end.


I don't want to cancel at such short notice now (2pm Monday) as it would be rude. Is it not as simple as asking 1 question and saying thanks and goodbye?!


Referring to them re underwriting, I earn a couple thousand more than previous, dad has no mortgage - we have £1700 spare after all bills per month.
We gross nearly £80k.
But it does sound like things are more difficult now.

SuzieSue

JustinR1979 wrote: »

I don't want to cancel at such short notice now (2pm Monday) as it would be rude..

Don't worry about being rude - if you were ill you would have to cancel.

JustinR1979

SuzieSue wrote: »

Don't worry about being rude - if you were ill you would have to cancel.

That's a fair point.
So can I just jump on the net and renew now, and put all this worry to bed?

JustinR1979

Right all done online, went nice and smoothly.


Just this part of email I'm not sure of:
"A copy will also be sent to your solicitor."
"The next step will be for your solicitor to exchange contracts and we'll contact you when we receive the date for the mortgage funds to be sent."


I don't remember any of this 2 years ago when term ended?

getmore4less

You have a mortgage till he is 75 why not keep that?