BR & Mortgage

zoe2008

hi all
Im just about done filling in my forms and the OH points out that our fixed rate mortgage deal ends later this year. Will the mortgage lenders still lend to us?
We have never defaulted on the payments and are hopeing to keep the house as its in neg equity.
Do you think if they do lend to us they will hike up the rate at which they do??

God this is all so S***, just when you think you can see a way out!!!

Toon_Dave

Hi Zoe...Im not 100% sure regarding the deal with Fixed rate mortgages and reloaning after.. I would check the terms of your mortage deal incase it has any clauses regarding BR..

Plus with the current credit climate some lenders are not allowing mortgage holders to remortgage on the deal they would have offered and are sending them to so called 'sub-prime' lenders..

It may be worth posting a thread on the mortgages board for specifc advice, someone may be in same situation as you now.

Best of luck with it.
There is always a solution and the end of tunnel will get closer in the end.

Dave X

zoe2008

Thanks Dave
Ive posted on the mortgage site but as of yet no answers!!!
Why is it life just keeps kicking you when you are down!!!!
Well done with your BR by the way.
Going to hide in a hole for the rest of the evening now and hope it all goes away. At least my little one is asleep!!

Richard_S

Hi Zoe,

When the fixed rate finishes they won't just cancel the mortgage and expect you to get one from another lender. The rate you pay will almost certainly go up, but you'll be able to adjust your I&E Budget accordingly.

Don't be surprised if you get a good lot of abuse if you've posted a similar question on the Mortgages Board.:eek: :eek:

Regards

Richard

zoe2008

Hi
richard
Ow my god they hate me.
5 PMs all telling how !!!! i am!!!!!
I dont understand why?
I only asked a question

Richard_S

zoe2008 wrote: »

Hi
richard
Ow my god they hate me.
5 PMs all telling how !!!! i am!!!!!
I dont understand why?
I only asked a question

Hi Zoe,

They're probably up to their eyes in debt, and envy you being on the point of getting your life back, and keeping your house into the bargain; they're more to be pitied than scorned.:rolleyes: :rolleyes:

Richard

zoe2008

Thanks for you support Richard
Im not replying to any of them!!!!!
Going off line for the night now,
hopefully tommorrow will be a better day
x

JPS29

Hi Zoe,

Ignore the !!!!!! on the mortgage board. The majority on that board are there for their own gratification to boast about how many houses they have, what rate they got and poke fun at those in worse off situations (can I put the soapbox away now:rolleyes: )

Carry on posting here, people on here (like Rich) are much more helpful and have no vested interest.

Back to your case....

I discussed this with my mortgage broker as I have 3 mortgages:eek: and am now BR:eek:

In a nutshell they WILL NOT TURF YOU OUT, force you to take a mortgage elsewhere or anything as sinsiter. What will happen is that once your "deal" ends you will go back on a "non deal" higher interest rate. It is not in their interest to stop you paying a mortgage that is making them money, as long as you are keeping up with the repayments.

What could happen is that they sell the book debt (mortgage) to another company (still same ts and cs) but they may invoke rate changes as and when (again check ts and cs) but tbh as long as you keep your house IMHO it's worth paying a slighlty higher rate for a while.

HTH

ITBS

Toon_Dave

Hi zoe...Firstly let me say how sorry i am that those MFW gave you so much hassle for posting. My suggestion was made in good faith as i thought you could get some advice regarding the best new deals available on the market after your fixed deal had expired.

They havent even had the decency or undecency to make any comments on your thread at all...what a self centred bunch they are over there!!.

Apolgies once again for any hurt and upset there comments have made and i certianly will not be recommending people in future in asking for their help.

Best wishes and humble apolgies, Dave X

Dez-Titute

Toon_Dave wrote: »

Hi zoe...Firstly let me say how sorry i am that those MFW gave you so much hassle for posting. My suggestion was made in good faith as i thought you could get some advice regarding the best new deals available on the market after your fixed deal had expired.

They havent even had the decency or undecency to make any comments on your thread at all...what a self centred bunch they are over there!!.

Apolgies once again for any hurt and upset there comments have made and i certianly will not be recommending people in future in asking for their help.

Best wishes and humble apolgies, Dave X

Dave,
You are like me thinking that everyone on here wants to help.Just shows how wrong we can be and how ignorant and up there [EMAIL="own@rses"]own [/EMAIL]@rses some people can be.
You did what you thought best

DEz

Toon_Dave

Dez-Titute wrote: »

Dave,
You are like me thinking that everyone on here wants to help.Just shows how wrong we can be and how ignorant and up there own @rses some people can be.
You did what you thought best

DEz

Thanks m8, i did..i just dont want zoe to think we are all like that so she comes back on for further help and advice that she needs in the future.

Thanks Dez..:T

Dave.