Birmingham Midshires increasing all their rates

mystic_trev

For mortgages - from midnight tomorrow.........apparently

Birmingham Midshires’ current rates are due to be withdrawn at midnight tomorrow. Full details must be received by close of business Tuesday 11th March in order to secure the rate requested.
We have had unofficial information which indicates rates are to go up quite sharply.
Should you have any queries, please don’t hesitate to contact us.
Kind regards,
****** *******
Mortgage Administrator

UK007BullDog

Oh boy...... credit crunch......

Confused_landord

crap.....i am in the process of having a mortgage done by them,, i hope its put into them in time..............

poppy10_2

Not looking good - they were big into subprime, no?

UK007BullDog

BM took on all except really heavy subprime if I remember correctly.

Den

If I got the offer from them, but need to reduce amount I want to lend? Will it affect me? Will my rates be same or new?

Thanks

Den

Can someone give update on BM solutions? Thanks

dan1979

It's not all their rates, a just a selection (37) of them.

Dan_Collins_2

I think we will see lenders increase rates over the next month. Remember when the crunch hit, so many lenders said they have funding until q2/3 of this year.

Also with less competition rates will increase.

Dan_Collins_2

Den wrote: »

Can someone give update on BM solutions? Thanks

Best thing to do is call them or look at the website for updates.

mortgagemark_2

Den,

IMO I would say if you already have a formal mortgage offer and just need the loan amount changed - you will be fine - won't affect you.