mortgage/upgrade bank robery by very ones who are paying for there mess

paddymc1

Went to bank to find out about moving house and what we would need. Our house which is in negative equity like a lot of others between what we owe and what we would get for house is 20,000. Also in a fixed mortgage for another 4 years and carries a penalty of 33,000 if we decided to go ahead and try move.
Taught on going into bank we might be able to carry negative equity over with us to new loan, but not so. The banks advertisement on this is not been made very clear as it sounds like you can bring it with you if you move.
As for the penalty it is a bloody scam/robbery by the banks. Surely to God we could keep our fixed rate on the amount we owe at present and the rest of loan/mortgage could be at a variable rate? When we looked at this 3 years ago we could do this no problem. How they can change the rules to suit themselves. It is us the Tax payer who is bailing them out yet we still get screwed by them every which way.

patwicklow

Can see your point really is no words for whats going on in this country SICK aint the word and just getting worse day by day And the so Called Public Servents/Masters aint doing ONE thing bout it!

Victor

paddymc1 wrote: »

It is us the Tax payer who is bailing them out yet we still get screwed by them every which way.

There are two choices. Either the bank makes a reasonable profit, by you paying what you signed up for or they will need to be bailed out again. Given that the banks are probably borrowing at a higher rate than they are getting from you, they may be making a loss or your mortgage.

I have no intention of paying your mortgage for you.

paddymc1

Hi Victor I have no problem in paying my own bills thanks...

Yes banks are there to make a profit, but my question to them today is why there was no penalty 3 years ago for more or less the same request only difference is the negative equity of 20,000 to which I could have covered with savings.

It is the penalty of 33,000 that stopped us from been able to get upgraded mortgage also to which they would have been making more money out of us than the mortgage we currently have. It's no wonder there in the mess there in..

BuffyBot

This might be better suited as a blog post..