Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

mabs

  • 23-07-2013 8:36am
    #1
    adr1984
    Registered Users, Registered Users 2 Posts: 66 ✭✭


    How can mabs help me through the process of a trade down with my mortgage lender?


Comments

  • #2
    marieabennett
    Registered Users, Registered Users 2 Posts: 7 ✭marieabennett


    "How can mabs help"... bit of a contradiction in terms there!! I suggest you either go to a professional adviser (educated, qualified) or ask a trusted family member (strong, on your side) to deal with the bank with you. Banks have no respect for MABS (clueless, lazy) - rightly so. Instead,
    Step 1: Have as many meetings with you bank as you can stomach. Update them every fortnight... even by e-mail. If you get on with your Banker, can he / she advise 'off the record' of any properties for sale in your price-range.
    Step 2: Speak to an Auctioneer you know and explain the position. Document all your conversations... again update your bank. Its necessary to keep them on-side (as hard as that it) as they will need to agree to same.
    Step 3: If you find a property, all should be made aware that any offer you make is subject to the sale of your own property. It's key to have a hungry Auctioneer in that respect.
    Step 4: Try to push the bank to help on the legal costs of sale / purchase or get their agreement that same be added to the mortgage at least.
    Step 5: Ask for advise each step of the way from everyone.... except MABS!


  • #3
    adr1984
    Registered Users, Registered Users 2 Posts: 66 ✭✭adr1984


    marieabennett wrote: »
    "How can mabs help"... bit of a contradiction in terms there!! I suggest you either go to a professional adviser (educated, qualified) or ask a trusted family member (strong, on your side) to deal with the bank with you. Banks have no respect for MABS (clueless, lazy) - rightly so. Instead,
    Step 1: Have as many meetings with you bank as you can stomach. Update them every fortnight... even by e-mail. If you get on with your Banker, can he / she advise 'off the record' of any properties for sale in your price-range.
    Step 2: Speak to an Auctioneer you know and explain the position. Document all your conversations... again update your bank. Its necessary to keep them on-side (as hard as that it) as they will need to agree to same.
    Step 3: If you find a property, all should be made aware that any offer you make is subject to the sale of your own property. It's key to have a hungry Auctioneer in that respect.
    Step 4: Try to push the bank to help on the legal costs of sale / purchase or get their agreement that same be added to the mortgage at least.
    Step 5: Ask for advise each step of the way from everyone.... except MABS!

    Thank you for the advice its very informative.


Advertisement