I wonder if you would find it easier to remortgage the property and move banks? This might also get your current provider to take care of you better.
It occured to me that they make actually be goading me into doing precisely that. I have a tracker mortgage that (I'm told) may actually be losing them money at the moment. Don't know how true this might be but it would certainly explain their attitude.
It occured to me that they make actually be goading me into doing precisely that. I have a tracker mortgage that (I'm told) may actually be losing them money at the moment. Don't know how true this might be but it would certainly explain their attitude.
Maybe you could decide what you really want/need to get done to the house and spend less than 50k and perhaps borrow from the credit union.
OP I'd have a face to face chat with your loan manager to see a way around the difficulties.
I don't think that's such a bad thing to be honest, I still remember the old branch manager and see him around (now retired). Haven't a clue who the current one is. But I know of two friends who went for mortgages (yup they bought houses!) through a broker and were refused by the banks, but sat down with their local manager and got the mortgage (for the same amount previously refused).
Mind, haven't some of these controls always been in place? When I got my car loan only 5 years ago, I had to prove I'd bought a car, and I know the in-laws had to show quotations several years ago when they had a loft conversion done.
What's been made clear is that responsibility for decision-making in Ulster Bank (at least in relation to mortgage aplications) does NOT reside with the branch manager.
The banks are not lending as much as they can because the margin on residential lending is not high enough. Banks variable rates are around 3% at the moment yet they can invest their money in government bonds for around 4%. Commercially what would you do?
Until variable rates increase (just around the corner) then the banks will have little desire for mortgage lending.
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