Remortgage ?

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29 Jan 2010 12:00 AM by manorpark Star rating. 165 posts Send private message

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Are there any banks offering remortgages ? I am determined to leave my current bank who I am not happy with but finding a bank taking on mortgages is difficult. If the exchange rate were better I would transfer the mortgage to the UK to avoid dealing with the bank. Any advice welcome.





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30 Jan 2010 10:34 AM by sharonw Star rating in Coin, Malaga. 281 posts Send private message

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Hi manorpark,

There are lenders offering re mortgage products; typically 60%-70% of the value, however in todays climate this is proving to be a sticking point, depending on your outstanding amount.  Re mortgage is not cheap, costs in the region of 5%-6%, but one lender (60% level) covers a majority of these costs.  It is imperative that there have been no defaults and missed payments for a lender to consider a switch application.

Hope that helps,

 

 

 



_______________________

Regards

Sharon

sharon@tmasspain.com

 www.themortgageservicegroup.com

 




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30 Jan 2010 12:13 PM by manorpark Star rating. 165 posts Send private message

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Thanks Sharon. we would ideally like to remortgage the whole amount. When we took the mortgage out the valuation was high so there was no problem but now that property prices have fallen this may cause a sticking point. We are frustrated by the fact that we can afford to pay the mortgage but are paying way over the odds with our bank and they have been so unpleasant to deal with ,we would rather take our custom elsewhere. I dread to think how Cambank handle customers who are in financial difficulty.

 





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