Mortgage exemption

Bellatrix

New Member
I applied to several banks for a mortgage exemption and was granted it by just one bank. The exemption is only 30000 above what I would be allowed anyway. The bank however will not allow me on any of their low rates fixed etc because they are giving me an exemption. Is this legal? Can I go onto a lower fixed rate after mortgage drawdown? Any advice is welcome
 

RedOnion

Frequent Poster
Exemption to value or income limits?
Some banks have a condition in rates that LTV must be under 90%.
 

Bellatrix

New Member
Ltv is 80%. We needed it on the LTI. We had deposit and are second time buyers. The banks website states the 2 year and 4 year fixed rate is only available to 3.5 LTI customers. We asked could we have the 5 year loyalty fixed rate as there is no mention of LTI rules on this and we are a customer of Bank but still told no. We are with a broker and the info is being relayed through broker.
 

Bellatrix

New Member
I did ask. Broker says we can go on a different rate a month after drawdown. I just wanted to get an assurance from experts like yourselves. The Bank is UB
 
Top