Monday, August 2, 2010

Yes the market will boom…ha ha ha

Mortgage lender refuses remortgage application because the road's busy and there's a restaurant next door

Mortgage lenders are becoming so strict with their criteria that they are denying loans to customers despite having previously agreed loans on their properties. In one case, a couple were denied a mortgage on their London home even though they had been granted a loan on it from the same lender four years earlier.

Posted by mark @ 09:16 AM (1296 views)
Please complete the required fields.



2 thoughts on “Yes the market will boom…ha ha ha

  • Many mortgage lenders have their own choice of a large surveyor company and won’t accept any other RICS surveyor. And surprise, surprise
    they charge a massive mark-up on surveys to the customer just to have they survey printed on their own headed paper.

    e.g. a home buyer report done by an independent RICS surveyor will cost you £350-400. Done by the lenders surveyor company, it will set you back £700-800.

    Total scam, and it’s time regulation was put in place to break up this monopoly. It also makes a mockery of RICS IMO.

    Reply
    Please complete the required fields.



  • Of course the lenders are just coming to terms with the funding gap they are about to face head-on. The sob story of the remortgaging couple is at best irrelevant. Their financial circumstances could well have changed significantly in the last four years meaning they are now a much higher lending risk than before.

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>