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Mortgage Prisoner
jetskidia
Posts: 457 Forumite
Hi
I have just read the article re Mortgage Prisoners, I am stuck in a similar situation but my position is slightly different in that my mortgage is with Northern Rock. As you are aware Northern Rock cannot move my mortgage to a different product, we also approached a mortgage broker that said they couldn't help as we failed the affordability test even though our new payments would be lower. For information, we are not or have ever been in arrears.
Can you please help?
Thanks
Chris
I have just read the article re Mortgage Prisoners, I am stuck in a similar situation but my position is slightly different in that my mortgage is with Northern Rock. As you are aware Northern Rock cannot move my mortgage to a different product, we also approached a mortgage broker that said they couldn't help as we failed the affordability test even though our new payments would be lower. For information, we are not or have ever been in arrears.
Can you please help?
Thanks
Chris
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Comments
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Hi Chris,
I sympathise with your situation. I wouldn't want to question the work the other mortgage broker done for you, but I would suggest getting a second opinion and speaking with another mortgage advisor.
Daniel---- 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 -
Are you a mortgage adviser?Daniel_Sparkes wrote: »Hi Chris,
I sympathise with your situation. I wouldn't want to question the work the other mortgage broker done for you, but I would suggest getting a second opinion and speaking with another mortgage advisor.
Daniel0 -
It looks I cannot send you a private message as your inbox / outbox is full. Would you be able to make a little room please---- 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 -
It is against board rules to do what Daniel is suggesting. I see he has only just signed up on the board and may not be aware of board rules. However, you can get banned for doing that.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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Apologies I'm a beginner at this forum scenario. To ensure forum rules are adhered I retract my previous message, please see below extract from the forum rules:
However if a user requests their service either via PM or forum post then I have no objection to that and the business generated. Yet if someone requests the service by a post on the board, the broker should simply post to say “I will PM you” rather than posting details there.---- 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 -
PM box now empty0
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Daniel I sent you a PM yesterday about forum rules, I was trying to prevent you getting told off by moderators, did you get message?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 -
Hi
I have just read the article re Mortgage Prisoners, I am stuck in a similar situation but my position is slightly different in that my mortgage is with Northern Rock. As you are aware Northern Rock cannot move my mortgage to a different product, we also approached a mortgage broker that said they couldn't help as we failed the affordability test even though our new payments would be lower. For information, we are not or have ever been in arrears.
Can you please help?
Thanks
Chris
Is your mortgage currently on an interest only or repayment basis?
Do you have a loan as well as the mortgage?0 -
Mortgage is repayment and no loan0
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How much do you owe? how much is your property worth and when did you last have it valued?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
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