Residential remortgage

You are here : Member Forums Other Residential remortgage
This topic has been locked as no posts have been made within the last 90 days.
C
Charles
27 Posts
0 Thanks
Just something you may be interested in as we are all being told how the banks are starting to lend again! I have a residential mortgage on my own property with First Direct and have had this for three years. I have had an account with FD for 19 years, been with my employer for 22 years and have no poor financial history and no change in my circumstances. I am now looking to move house. I went through all the details with FD and all ok until I was asked if we had B to L properties, we have 8. Once they knew they said that due to their new lending criteria that they would not permit me to port the mortgage or issue a new one. When I asked 'why' they said they could not say as it was 'commercially sensitive'! Not sure what that means but amazed at their stance. I even spoke with their underwriter who I assume is meant to assess risk....not interested. They did not even want to know the financials on the B to L, which are excellent. I am now in the process of moving....with the Cov B Soc, who I was with before my FD mortgage.....you live and learn!
15/02/2011 00:00

Want to read more?

This is a members only forum, if you want to read more you need to login to your membership, if you are not a member, click here to join.

This topic has been locked as no posts have been made within the last 90 days.
Landlord & Investment Show
Martin Co
Envirovent
Landlord Broadband

Share this page