Posting on behalf of my friends. I've seen great advice here and they are in need of same. They bought their detached house in 2008 for €365,000, with loan part of it being €332,000 for 35 years with Ulster bank. The amount of loan outstanding to day is €309,000 and a house in the neighbouring estate sold recently for €275,000.
Their interest rate is very high at 5.45%. On annual mortgage statement the "Initial/Former Product Name" is "SVR +1.15%". Is there a way of changing that rate to just a normal SVR? Is this even legal...
Is there any way another mortgage provider would take them on? They both in permanent employments, the mortgage payments made regularly.
Any advice gratefully received.
Their interest rate is very high at 5.45%. On annual mortgage statement the "Initial/Former Product Name" is "SVR +1.15%". Is there a way of changing that rate to just a normal SVR? Is this even legal...
Is there any way another mortgage provider would take them on? They both in permanent employments, the mortgage payments made regularly.
Any advice gratefully received.