Hi Everybody,
Our 3 year fixed rate is up later this month and we received our offer letter today with there current rate options (Very Poor!). We had been thinking about switching banks leading up to this but it now appears its not as straight forward as what we thought.
Our query is We still owe 280k but the value is roughly 250k in other words Negative equity does this mean we are ineligible to switch banks any replies would be appreciated.
Our 3 year fixed rate is up later this month and we received our offer letter today with there current rate options (Very Poor!). We had been thinking about switching banks leading up to this but it now appears its not as straight forward as what we thought.
Our query is We still owe 280k but the value is roughly 250k in other words Negative equity does this mean we are ineligible to switch banks any replies would be appreciated.