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Deed of postponement too risky?
MarkLion
Posts: 1 Newbie
My house is valued at £1.5m
My mortgage is £170k
There's a second charge on the house at £100k
Our mortgage can be increased to £195k after a £25k additional borrowing was agreed with the mortgage provider (this also means monthly payments are reduced by £400 a month)
The company holding the second charge have rejected it on the basis of "Deed of Postponement too risky" ?
I am unable to get discuss the issue with anyone directly from the second charge company (they keep putting me through to people who then put me through to others who all know nothing or refuse to know anything).
I've been told an appeal is possible.
Why is it risky for them? What are my chances? Any advice?
My mortgage is £170k
There's a second charge on the house at £100k
Our mortgage can be increased to £195k after a £25k additional borrowing was agreed with the mortgage provider (this also means monthly payments are reduced by £400 a month)
The company holding the second charge have rejected it on the basis of "Deed of Postponement too risky" ?
I am unable to get discuss the issue with anyone directly from the second charge company (they keep putting me through to people who then put me through to others who all know nothing or refuse to know anything).
I've been told an appeal is possible.
Why is it risky for them? What are my chances? Any advice?
0
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