mortgage rip off

Jledi · 2004-07-25T19:55:06+00:00

we are in the process of signing up for a mortgage that we have no option but to take, firstly we have had some debt problems and secondly we are buying our house on a right to buy purchase, also it is a m5 steel framed construction, because of all these problems the best mortgage deal we can get is 10.75 and beleive me we have tried to get a better deal over the last 16 months but nobody wants to know, i suppose when we have cleared all the debt which will be just after we get the mortgage then we will be in a better position in three years or so to either move or re-mortgage to a much better rate.

mortgage rip off

Jul 25, 2004 43 Replies

Rate this thread:

tim 21 years ago

But if the mortgage company have repossessed it, it is they that will be gifted the new house, not the defaulting occupier.

tim

Vote

john boyle 21 years ago

In message , tim writes

It would be interesting to see if the council deal would allow a mortgagee in possession to benefit in such a way.

Vote

Jledi 21 years ago

Vote

john boyle 21 years ago

In message , Jledi writes

Dont take this the wrong way, and no insult intended, but everybody says that. Yet every lender in the country has had to repossess houses from people who say the same thing.

If people didnt default, the lender they wouldnt need a mortgage on your home, and they would lend you the money - unsecured. But they wont, will they?

Vote

Join the Discussion

Have something to add? Share your thoughts — no account required.

Didn't find your answer?

Ask the community — no account required