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Help! Natwest refusing to port my mortgage!
Comments
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I suspect he already has.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 -
Thrugelmir wrote: »The equity loan has to be repaid when the property is sold. That's a condition of the scheme itself. Which in itself means that the mortgage is not portable per se.
Has your property increased in valued since you purchased it?
No it's decreased in value.
I've raised a complaint with them and should hear in a few days....I'll update here.0 -
I was right and I won it in complaint. For anyone with a mortgage on the Homebuy Direct Scheme with Natwest it's portable.0
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Thats excellent news.
Shame they put you through all that though.
Did they say anything to explain why they got it wrong the first time round?I am a Mortgage Adviser
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.0 -
Perhaps the Bank were trying to apply current criteria to a case that was issued under the previous criteria?
Sounds like the squeaky wheel got the oil.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 -
Tightscotsman wrote: »I was right and I won it in complaint. For anyone with a mortgage on the Homebuy Direct Scheme with Natwest it's portable.
Great news! Well done for sticking with your complaint and seeing it through.0 -
Hi Tightscotsman, I'm just wondering when you renewed your mortgage deal had section 10 already been changed??
We're looking at a new deal starting next month and section 10 includes: MI New home, New Buy and Help to Buy Shared Equity.
We have the Homebuy Direct scheme and Natwest aren't giving us a straight answer if its possible to port the mortgage in 6 months time.
Thanks0 -
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