Light at the end of the tunnel at last!

DaiJoA

Had a really positive chat with my IFA at my estate agents today, he's advised me that because our financial situation has changed for the better literally in the last week - DH has had a good payrise and I've been offered an extra day's work (although I won't actually be any financially better off because of childcare fees, it gets the mortgage multiples up) we're now open to mortgages between £126-£144k, which obviously makes me a lot happier - there are currently three deals being offered at reasonable fixed rates with high st lenders which really surprised me.

He is currently in negotiations with NR on our behalf and three other cleints' behalf to get them to reduce or waive thier ERC's - apparently there is a whisper going round IFA's that NR will shortly announce their dropping their ERC's to get rid of even more customers?????

So, keeping our fingers crossed on that and the deals actually being available still when we get an offer on here! Pref. one that isnt in a massive chain!

At least it gives a little hope in what's been a terrible financial week.

minimike2

NR have been doing this for a couple of weeks now.

Ive just advised a client tonight to speak to them as thier deal is ending, to waive the help with costs fee if they re-mortgage away from them.

DaiJoA

When I spoke to NR about three weeks ago I got to a few managers higher that the immediate call centre and they refused point blank, but I'm not messing about now I really don't see why they should have it all their way - do you think it would make any difference if I rang again, or should I ask my IFA to really push it for me (seeing as he works in the estate agency, it is in his best interests after all).

I really don't know how high I'd get with ringing NR.

minimike2

Yes ring again definately.

I dont know if they are setting criteria on who they allow to waive the ERCs to, but they are doing it, so another call has got to be worth a shot.

DaiJoA

Brilliant! I shall ring tomorrow and demand to speak to a manager! Last time it was like they were reading off a script or something, which they probably were! Hate being fobbed off!

amy

what is erc??

Kez100

Early repayment charge.

amy

how did u get on phoning today??

dunstonh

Had a really positive chat with my IFA at my estate agents today,

I can never understand why an IFA would work in an estate agent. It is such a waste of money. IFA costs are significantly higher than a mortgage adviser's costs and regulation and compliance is greater as well. Its just throwing money away and God help the client that happens to put the rare investment case their way.

DaiJoA

Rang them and again was a complete flat no, again they were reading from the bible, asked to keep being put through to higher managers, really tried so hard in the end got told to put something in writing - "will this make any difference?" "er, no", so basically they were just saying that to get me off the phone. I'll have to ring the IFA tomorrow but needless to say I'm getting incredibly fed up, it's starting to look more likely that we'll have to go back into rented just to regroup on our finances a bit and let the equity on here work for us a bit. In the meantime my DH's payrise will be going straight into an ISA to try and build things up a bit.