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New mortgage is higher APR
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Jamgeorge
Posts: 89 Forumite
Hi all
We exchanged last August on a new build. The initial mortgage expired. We now have a new one and the APR has increased. The housing developer has said they will review any negative financial loss and look at a good will gesture as this is the sec d mortgage for the same property.
Has this happened to anyone else and did you get compensated?? Fed up with all this. Told us the house would be ready December now looking at April to may. Getting at our wits end. The new mortgage is approx £6,000more APR
Thanks for reading
We exchanged last August on a new build. The initial mortgage expired. We now have a new one and the APR has increased. The housing developer has said they will review any negative financial loss and look at a good will gesture as this is the sec d mortgage for the same property.
Has this happened to anyone else and did you get compensated?? Fed up with all this. Told us the house would be ready December now looking at April to may. Getting at our wits end. The new mortgage is approx £6,000more APR
Thanks for reading
0
Comments
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The BoE base rate increased in August, so your APRC increased.
It has no actual bearing on the cost of your mortgage as the chances of you remaining with your current lender on standard variable rate after your initial rate ends are probably slim and none, so best ignored.I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Oh I see- thank you0
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