Freeing up policy

J

johnboy

Guest
Hello again
I bought a house in 2002 worth 200000 euro and is now valued at 345000 euro
At the time my P60 was 10000 more due to bonuses and now due to no bonuses it is down 10000
My loan to value ratio was initially over 95% and therefore a policy owned by my father was tied up for a 2 year period, a verbal agreement
However now after 3 years the bank are not willing too easily to let go of this policy

I have 60K loan from credit union and I want to refinance this under morgage and also free up the account

What is my best way of going about this

My loan to value ratio is 55% I think

current value of house 345K
current value of loan is 180K

Any suggestions or insight would be great?
 
I would strongly suggest you tell your mortgage company that you are unhappy, and you are now going to refinance to another bank. Sounds strong, but I would do it. To cover yourself, you should organise an offer (or at least aproval in principal) and show it to them.
 
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