[KS Cleaning]

I think I know what the issue is.
I'm pretty sure if you want to borrow additional funds then this initiates a new application process. If you simply wish to remortgage, with the same provider then there is no application required. If you go on the web portal you can do both to see without actually committing or applying. It allows you to try various options before you actually go forward with any.

Ahh I see, sort of makes sense, good work pal👍 You’d think there would be a bit come and go with that tho eh, and consideration would be made on a case by case basis. Even with the additional funding it would only take me to 60% LTV. I will look at my options in the next week or so.

[NWH]

In normal circumstances if you want to remortgage you have to go into the branch it’s not like it was before with home improvement loans etc,and if you use the same bank the new loan will run alongside the existing 1.
The whole process like it is for the initial mortgage is required for a remortgage.

[KS Cleaning]

Same with insurance you have a broker they use an insurer and then it’s insured again by them,the initial risk is increased 3-4 fold so what appears to be low risk quickly becomes medium or high risk certainly at the moment.
Plenty of first time buyers trying to buy at the moment with 30-40k from mum and dad and getting laughed out the bank.

That’s because a lot of lenders are insisting that 75% of the deposit comes from the applicants own personal savings, which rules out a large number of  first time buyers.....madness!

[KS Cleaning]

In normal circumstances if you want to remortgage you have to go into the branch it’s not like it was before with home improvement loans etc,and if you use the same bank the new loan will run alongside the existing 1.
The whole process like it is for the initial mortgage is required for a remortgage.

No, that’s wrong.

[NWH]

Yeah it eliminates risk it’s all about risk like I say bookies are the same all large bets are offset and covered in the event of a large loss,with a 75% equity stake in a property they won’t lose with all the fees repossession costs a drop in market value they will still make huge profits.
It’s just like Las Vegas when you go there every Taxi driver you speak to says the same thing,they don’t build all these hotels on winners same with banks they have a branch in every town in the country used to be in most villages a % of a % makes banks £££ on what they lend you.

[NWH]

In normal circumstances if you want to remortgage you have to go into the branch it’s not like it was before with home improvement loans etc,and if you use the same bank the new loan will run alongside the existing 1.
The whole process like it is for the initial mortgage is required for a remortgage.

No, that’s wrong.

Is it lol are you sure about that.

[NWH]

At this time I’d like to hear of someone that has filled a form in online and been given a remortgage without going through the whole process like an initial 1,be interested to know.

[KS Cleaning]

In normal circumstances if you want to remortgage you have to go into the branch it’s not like it was before with home improvement loans etc,and if you use the same bank the new loan will run alongside the existing 1.
The whole process like it is for the initial mortgage is required for a remortgage.

No, that’s wrong.

Is it lol are you sure about that.

I’m positive about that, the remortgage does not run alongside the original one. In normal circumstances you don’t  have to go into a branch to remortgage either.

[֍Winp®oClean֍]

At this time I’d like to hear of someone that has filled a form in online and been given a remortgage without going through the whole process like an initial 1,be interested to know.

Here, me. It took 10 minutes. They then send you the new agreement via email and you sign it electronically. They then send you a confirmation email a little while after that. However, this was for a straight remortgage, with current lender and no additional borrowing.

[֍Winp®oClean֍]

I think I know what the issue is.
I'm pretty sure if you want to borrow additional funds then this initiates a new application process. If you simply wish to remortgage, with the same provider then there is no application required. If you go on the web portal you can do both to see without actually committing or applying. It allows you to try various options before you actually go forward with any.

Ahh I see, sort of makes sense, good work pal👍 You’d think there would be a bit come and go with that tho eh, and consideration would be made on a case by case basis. Even with the additional funding it would only take me to 60% LTV. I will look at my options in the next week or so.

These things can be a pain and often different lenders have differing criteria. Loyalty hasn't been rewarded for some years now, in fact, it's often been detrimental from a financial point. The important thing here is to get the best rate you can for your own circumstances. I spent quite some time searching the market before committing to my current lender. Good luck👍👍

[NWH]

Sorry I must have missed something here are you just talking about negotiating a new rate with the lender because if this is the case it’s a completely different scenario,any additional borrowing is different.

[NWH]

As for loyalty with any lender high street independent etc you’ll get 0 why would you expect it,if there’s anything life’s taught me it’s that it doesn’t exist when ££s involved.

[֍Winp®oClean֍]

Sorry I must have missed something here are you just talking about negotiating a new rate with the lender because if this is the case it’s a completely different scenario,any additional borrowing is different.

Yes, once your current discounted rate comes to an end. 👍

[tlwcs]

Mortgages are so last year



Although I am 106 years old

[KS Cleaning]

Sorry I must have missed something here are you just talking about negotiating a new rate with the lender because if this is the case it’s a completely different scenario,any additional borrowing is different.

Yes you will have missed something if you didn’t bother to read the OP😉

[Stephen burton]

Same happened to me was purchasing a new house and borrowing another 30k they said no after finding out I claimed first grant, went to a broker found a better deal with Halifax who offered me another 8 k to borrow on top of the 30 but downside was paying an early exit fee with NatWest for nearly 7k that hurt

[KS Cleaning]

Same happened to me was purchasing a new house and borrowing another 30k they said no after finding out I claimed first grant, went to a broker found a better deal with Halifax who offered me another 8 k to borrow on top of the 30 but downside was paying an early exit fee with NatWest for nearly 7k that hurt

Ouch!!!  The Halifax which is part of the Lloyds group, seem to be the go to lender at the moment. NatWest have well and truly shot themselves in the foot.

[deeege]

NWH please, just stop posting.  At this point you are just typing utter rubbish, please just stop.

[NWH]

NWH please, just stop posting.  At this point you are just typing utter rubbish, please just stop.

Lol we’ve got a few properties in the family and we don’t live in all of em so I’ll stop typing 🤣.

[KS Cleaning]

NWH please, just stop posting.  At this point you are just typing utter rubbish, please just stop.

Lol we’ve got a few properties in the family and we don’t live in all of em so I’ll stop typing 🤣.

That’s surprising given that you don’t know how remortgaging works🙈  I suppose you bought them cash😂