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Halifax Mortgage and Negative Equity

  • 09-02-2010 9:15pm
    #1
    Buster_Gonnads
    Registered Users, Registered Users 2 Posts: 28 ✭


    As per the following link, Halifax are pulling out of Ireland

    http://www.irishtimes.com/newspaper/breaking/2010/0209/breaking60.htm


    I assume customers will have to get their credit cards , mortgages etc... serviced by another lender. Either by moving by theirselves, or via Halifax 'selling' the debt to another lender. Or I suppose a third option being to continue to keep some customers, however in this instance I assume they will have zero incentive to offer competitive rates.

    I have a mortgage with Halifax for the past 3 years, approx 360,000 EUR. The house is currently worth 220,000 - 240,000 EUR. Therefore huge negative equity.

    Anyone any Idea how this will affect me. What other lender in their right mind would want to take that on? My job, is safe (ish) for the moment, but no way completely safe! My company has been bleeding staff now for the past year and a half (lost 35 staff from 130).

    And can I just say best of luck to the 750 workers who will lose their jobs. What about that corner we were supposed to have turned Mr Cowen??


Comments

  • #2
    Senna
    Registered Users, Registered Users 2 Posts: 8,800 ✭✭✭Senna


    Opps, wrong bank


  • #3
    Davy
    Registered Users, Registered Users 2 Posts: 19,340 CMod ✭✭✭✭Davy


    Your mortgage will most likely remain at Halifax. The other services wont. You might get more info from the banking forum


  • #4
    uberwolf
    Registered Users, Registered Users 2 Posts: 7,581 ✭✭✭uberwolf


    From Halifax's website, which provides a Q&A.
    Halifax wrote:
    What does this mean if you are an existing Halifax Mortgage customer?
    As an existing Halifax Mortgage holder this decision does not affect you. Your Mortgage will continue under its existing terms as normal until it is paid off or you decide to switch to another financial provider. We will be writing to you within the coming weeks to confirm this position.

    If you have a question about your mortgage or you would like to find out more information about an application please call Customer Service on 1890 81 81 81 or drop in to one of our branches.


  • #5
    Victor
    Registered Users, Registered Users 2 Posts: 78,574 ✭✭✭✭Victor


    http://www.irishtimes.com/newspaper/breaking/2010/0209/breaking60.htm
    Bank of Scotland (Ireland) has established various customer contact points, which are listed at branches and on its website. Customers with any concerns or questions about their accounts are advised to contact Halifax / Bank of Scotland (Ireland) directly on 1890 818181 or at www.halifax.ie. The Financial Regulator can be contacted on 01 2246000.


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