Remortgage relief needed!?
My mortgage company has gone bust and i need to remortgage. my existin mortgage concordat doesnt end until Jan 2010 but they annot offer me another contract afterwards so i need to move. i want to start getting the ball rolling immediately but most lenders will only consider it 6 months in finance but its a little over 6 months away. is there anything i can do instead of in recent times waiting??
Answers:
Just wait. You owe them money, they owe you nothing! Calm down and relax. They can' physically force you stale the mortgage anyway, so worst case scenario if you can't find another lender is to stay on your current lenders variable rate.
I own to tell you, no mortgage lender has "gone bust" and none can force you to move. The individual thing they can do is sell on the debt, which would close-fisted you'd be dealt with by another company.
Swapping products very soon would almost certainly mean a hefty repayment cost which is usually to the tune of 2 - 5% of the entire mortgage amount.
Wait till July/August and start looking around then. You're not in any rush though, so don't madness.
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Answers:
Just wait. You owe them money, they owe you nothing! Calm down and relax. They can' physically force you stale the mortgage anyway, so worst case scenario if you can't find another lender is to stay on your current lenders variable rate.
I own to tell you, no mortgage lender has "gone bust" and none can force you to move. The individual thing they can do is sell on the debt, which would close-fisted you'd be dealt with by another company.
Swapping products very soon would almost certainly mean a hefty repayment cost which is usually to the tune of 2 - 5% of the entire mortgage amount.
Wait till July/August and start looking around then. You're not in any rush though, so don't madness.
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