Halifax Making Life Difficult For Such an Easy Request!

shortcrust

Puts me in mind of a celeb shouting "Don't you know who I am?" when asked to queue along with the everyday folk.

Goldiegirl

shortcrust wrote: »

Puts me in mind of a celeb shouting "Don't you know who I am?" when asked to queue along with the everyday folk.

That approach, or more usually 'do you know how much money I've got in my account', NEVER cut any ice with me

spire2009 wrote: »

Was MMR really introduced to inconvenience existing borrowers who have a track record of repaying debt without fault? I don't want to borrow more money, I just want to clear the decks faster!

The problem is, we seem to have bred a society that wants what they want when they want it, no questions asked.


When it all goes wrong a few years later, these people take no responsibility for this - they blame the bank for lending the money to them in the first place - they never. ever think that maybe they should be taking the blame for wanting to borrow more than they could afford, and then making bad budgeting decisions once they are living in the house.


But responsible borrowers have also been caught up in this, as they have to follow the new rules too.


Yes, it's frustrating. But if you want to proceed, you just have to do what the lender wants you to do. There's no point in having a tantrum on the phone - that'll get you nowhere. In fact people won't want to help you at all.


If it's that important to you, 50 minutes on the phone going through the process is nothing really.


Oh, and whatever you do...... don't mention your ball-ache! :rotfl:

ethank

I think the lender is demonstrating responsible lending here.

Thrugelmir

spire2009 wrote: »

Banks / The Government are making it difficult for people who can manage their money & have a positive track record with lenders.

I have to say that's a meaningless statement. What matters is the future. To ascertain this lenders have to know something about you as at today. Historical data is only useful in weeding out eliminating poorer risks.

Thrugelmir

spire2009 wrote: »

I don't like it because the bank are prepared to waste my time & theirs for what both parties acknowledge is a formality.

The lender doesn't. So suggest that you get off your pompous high horse and stop whinging. Same rules apply to everyone. There's no reason to make exceptions.

GingerBob_3

mrginge wrote: »

How do you know it's tripe?
Have you read the MMR?

No, didn't think so....

It's tripe. Have you not been following the plot on this one? As is usually the case with government - aided and abetted by the finance industry on this occasion - it has a host of unintended consequences and in many cases is being inappropriately applied. I have personal experience; coming to the end of my mortgage term and wanted to extend it by just few months to tie in with a final endowment payout - this was also Halifax). Oh no! We need to carry out an affordability assessment. Please come down to your local branch. F.... off, you clowns!

haras_nosirrah

The concession Halifax has made is that if nothing is changing they will allow clients to switch products with no checks. If the client wants to make an amendment to anything then it will fall under mmr and this a full application with the associated checks has to be done. While it sounds stupid that is how they have chosen to implement the new rules and it is a case of like it or go elsewhere

One of my clients I am doing a straight product switch for with Halifax is coming up at 60.3% ltv.

If she reduces her mortgage by £300 to get under the limit then she is subject to mmr which she won't pass as her income has dropped

By overpaying £300 now and then doing the product switch she will not be subject to mmr

It is just the way it is

GingerBob_3

haras_nosirrah wrote: »

The concession Halifax has made is that if nothing is changing they will allow clients to switch products with no checks. If the client wants to make an amendment to anything then it will fall under mmr and this a full application with the associated checks has to be done. While it sounds stupid that is how they have chosen to implement the new rules and it is a case of like it or go elsewhere

One of my clients I am doing a straight product switch for with Halifax is coming up at 60.3% ltv.

If she reduces her mortgage by £300 to get under the limit then she is subject to mmr which she won't pass as her income has dropped

By overpaying £300 now and then doing the product switch she will not be subject to mmr

It is just the way it is

Quite. Absolutely stupid. Common sense and flexibility have been abandoned.

James_B.

GingerBob wrote: »

It's tripe. Have you not been following the plot on this one? As is usually the case with government - aided and abetted by the finance industry on this occasion - it has a host of unintended consequences and in many cases is being inappropriately applied. I have personal experience; coming to the end of my mortgage term and wanted to extend it by just few months to tie in with a final endowment payout - this was also Halifax). Oh no! We need to carry out an affordability assessment. Please come down to your local branch. F.... off, you clowns!

And again, someone who wanted to change the terms of their deal, and who decides to throw a little tantrum when the other party says "no thanks".

Are you an only child? It's hard to believe that if you have siblings that you could ever have made it to adulthood with such a ludicrous sense of entitlement.

northerner999

My fixed-rate mortgage with Halifax has just expired, I tried to sign up for a new fixed deal over the phone, but was also told it would take about an hour as they had to do a review. I've struggled to find the time, so haven't done so yet.

To me it is a "formality", because I know my pay has gone up since my last review, am confident in my job security and am generally in the best financial situation I've been in since before I took on a student debt. But no amount of petulance on my part will impart that knowledge to them unless I find an afternoon to do so. It's a pain, but I'd rather that than have a mortgage with a company that finds itself in a huge mess due to irresponsible lending.