mortgage tie in
Apr 10th 2007, 6:16 pm
#1
Forum Regular
Thread Starter
Joined: Feb 2007
Location: Leeds
Posts: 120
mortgage tie in
Im a little cheesed tonight as Im trying to get my head around when to move to Oz. We have read the terms for our reduced rate mortgage and if we end morgage before Jan 09 we will have to pay out £8500. So I think we are stuck for 5 more months longer than we were planning.
Apr 10th 2007, 7:15 pm
#2
Forum Regular
Joined: Sep 2006
Location: Ellenbrook, Perth
Posts: 226
Re: mortgage tie in
Im a little cheesed tonight as Im trying to get my head around when to move to Oz. We have read the terms for our reduced rate mortgage and if we end morgage before Jan 09 we will have to pay out £8500. So I think we are stuck for 5 more months longer than we were planning.
Hey - I've had to bite the bullet and pay my bank £2,500 - well cheesed off:curse: :curse: It could have been worse I suppose - if I'd done it a week before I'd have been £5,000 in total. The banks have got you with the short and curlies....
Apr 10th 2007, 7:18 pm
#3
BE Enthusiast
Joined: Feb 2007
Posts: 587
Re: mortgage tie in
Apr 10th 2007, 7:22 pm
#4
Banned
Joined: Jun 2006
Location: Gold Coast
Posts: 2,872
Re: mortgage tie in
Would it not be possible for you to rent your house out until the mortgage deal has finished?
Banks really do screw you over don't they
hope you find a solution that doesn't cost you to much.
Axx
Banks really do screw you over don't they
hope you find a solution that doesn't cost you to much.Axx
Apr 10th 2007, 7:52 pm
#5
Forum Regular
Thread Starter
Joined: Feb 2007
Location: Leeds
Posts: 120
Re: mortgage tie in
Problem we have is we need some of the equity on this house to be released really. We could transfer our mortgage and buy a flat as long as mortgage is same amount e.g. same product but the rental income on a flat would not meet repayment amount. My tie in fee seems alot higher than some others?
Apr 10th 2007, 8:21 pm
#6
Banned
Joined: Jul 2006
Location: here there,fluck knows where?
Posts: 7,444
Re: mortgage tie in
sorry to give you more bad news folks...
but you also get hit for around £300 for an early re.payment fee....
they dont even tell you about that one...
if you have any spare cash ,ask if you can pay it off just before you settle your loan..this will bring you penalty figure down...
good luck all,remember theres no gain without pain.
mind you i think if you can get a sale at the moment it might be worth taking a bit of a knock...
ast,,,,,
but you also get hit for around £300 for an early re.payment fee....
they dont even tell you about that one...
if you have any spare cash ,ask if you can pay it off just before you settle your loan..this will bring you penalty figure down...
good luck all,remember theres no gain without pain.
mind you i think if you can get a sale at the moment it might be worth taking a bit of a knock...
ast,,,,,
Apr 10th 2007, 8:23 pm
#7
Bitter and twisted
Joined: Dec 2003
Location: Upmarket
Posts: 17,503
Re: mortgage tie in
Didn't any of you read the small print when you signed up for these deals?
Apr 10th 2007, 8:26 pm
#9
Banned
Joined: Jul 2006
Location: here there,fluck knows where?
Posts: 7,444
Apr 10th 2007, 8:27 pm
#10
sneaking a peek ...
Joined: Oct 2005
Location: Adelaide, SA
Posts: 3,320
Re: mortgage tie in
Tiggs
Apr 10th 2007, 8:29 pm
#11
Bitter and twisted
Joined: Dec 2003
Location: Upmarket
Posts: 17,503
Re: mortgage tie in
Well what is the point of complaining now
Nobody is ripping you off...you were quite happy to take the cheap deal at the time...the banks aren't screwing you ...they are just sticking to their part of the deal....now you have to
Nobody is ripping you off...you were quite happy to take the cheap deal at the time...the banks aren't screwing you ...they are just sticking to their part of the deal....now you have to
Apr 10th 2007, 8:50 pm
#12
Forum Regular
Joined: Sep 2006
Location: Ellenbrook, Perth
Posts: 226
Re: mortgage tie in
Do you really work in the buses Grayling - or are you my bank manager?
Apr 10th 2007, 8:58 pm
#14
Banned
Joined: Jul 2006
Location: here there,fluck knows where?
Posts: 7,444
