BTL Remortgage declined

Trillionaire

Hi payless.

Mmmm:rolleyes: Do you want to buy it?:D That's how I feel at the mo.

Anyway, spoke to ME. They are willing to lend us the extra £5k. Still mmming and rrrring about it. There's no rush. I'll wait and see how many more BBR drops we have - hopefully at least 2 more consecutively i.e. May and June.

rzr101

They won't offer you anything and there is no point complaining as the security has been deemed unsuitable for the mortgage lender to sell in the event of you defaulting on the loan.

What you can do is challenge the surveyor who valued your security. To do this you would need to speak to agents who had sold (NOT purely marketed) similar properties in the area. You will need at least three close comparisons. in the last three months to have a hope to change the valuers opinion.

You will not be able to get the val fee back from the lender. it happens im afraid. If you look at your illustration you were given this will say "non refundable".

Simple as that.

Trillionaire

Thanks again everyone.

Now that I'v totally calmed down :cool: - I've decided to knock it on the head and will not be persuing the refund of any fees So we are resigned to being another statistic of the credit crunch:eek: .

UK007BullDog

No, I would still check the small print. As THEY declined you you might be able to get a refund on the product fee.

payless

Trillionaire wrote: »

Hi payless.

Mmmm:rolleyes: Do you want to buy it?:D That's how I feel at the mo.

Anyway, spoke to ME. They are willing to lend us the extra £5k. Still mmming and rrrring about it. There's no rush. I'll wait and see how many more BBR drops we have - hopefully at least 2 more consecutively i.e. May and June.

Unlikely - although if I knew where abouts it was I might have some thoughts