Are Mortgage Express offering Discounted Redemption Figures?
I have a mortgage which was originally taken out with Mortgage Express. It was moved from an interest only mortgage to a repayment one before they hit hard times.
Now they will not allow me to switch it back. ( asked a few years back ) I am therefore possibly looking to remortgage to an interest only one. I know this will be at a higher rate than I am currently on. My question is has anybody been offered a discount on their redemption figure just to clear the loan?
Currently it has about 14 years to run. I am not aware that my loan has been sold to Prudential, however my loan is up to date with payments and has never been in arrears. I am however reluctant to contact them unnecessarily, only contact I have had with them recently is when they called me about a year ago asking about my tenants and other buy to let mortgages I have.
I politely told him to get lost as it was non of his business about my other loans, the house is tenanted as per my mortgage agreement and payments were up to date. Is it worth contacting them to ask or would I be stirring up a hornet’s nest?
Janet
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Member Since October 2021 - Comments: 5
11:05 PM, 5th October 2021, About 5 years ago
Hi Mark
56
£750/£800 k
£417k
This is our home
Other assets, 100,0000 shares in a internationally recognised branded company but can’t sell Any for another 18 months until the first pilot plant is built and commissioned, major planning application which took 18 months due to Covid approved last Thursday
Switch to
[email protected] if you think
You can help.
Also found a national
Group Action ran by no win no fee solicitor against B&B, Northern Rock , UKAR and MX
Served yesterday on behalf of 150k to 200 k mortgagees, dramatically trapped and overcharged. Average claim 25k mine would be over £200 k
Regards
David.
Member Since July 2013 - Comments: 1266 - Articles: 1
9:26 AM, 6th October 2021, About 5 years ago
Surely worst case you can sell yourself? It’s a strong market and you could have sold by now even if you only put it on the market early this year. You don’t say why you didn’t address it before the term ended? Not sure that you have a case against MX’s successor lender as you breached the terms of the loan. Mark is right – go to a good broker now, then you can apply to the lender (or court if it’s got that far) to wait until you can remortgage. There are non-status loans out there. They may not be cheap but you also might be able to release some equity. I don’t think they will take the shares into account.