Trapped by Lender
Trapped by lender
It is felt that some lenders are taking advantage of their customers knowing that some borrowers are unable to move their borrowing to other lenders because of low equity in their property; therefore, they are left with no choice but to continue on their current deal.
Because of the current finacial situatuin it increasingly difficult for some borrowers to get new financing from their lenders. Interest rates are at their lowest for decades but some borrowers are finding that because of low or negative equity on their property they cannot get fix rate money, despite the fact that many of these borrowers have exemplary payment history and have never missed or defaulted on their repayments. The irony is that, were they able to get the fixed financing they would certainly be in an even stronger position to carry on as they started which in turn is much safer lending for the banks and building societies.
Should you find yourself stuck, unable to move because of low or negative equity; contact ReliableHomeBuyer.co.uk today and we will find a solution to your problem.