mortgage advice

[finbard4]

when i set up my mortgage i got unsecured loan at the same time.I was quite,well very nieve and dont believe got best deal.i feel paying lot back for how much i owe,so have heard a lot about people getting loans squashed but unsure why!so if anyone could shed some light on situation i would appreciate it.

[bednobs]

i dont really understand what you mean by getting a loan squashed? yu are of course free to look around for another loan at a better rate, to pay of this one. That's if they will let you pay it all off at once - you would have to ring them to find out i suupose. Also, in the current economic climate, you may not be able to find a better rate i suppose

[dzug]

What you are thinking about is a loophole in the law whereby if the loan company didn't do and keep all the right paperwork the loan becomes unenforceable through the courts. There are companies who (for an upfront fee) will check this for you.

[Ethel]

And it is very rarely successful - companies are well aware of their legal obligations and the chances of them not having followed proper legal procedure and requirements are negligible.

These companies that offer to check for you are vultures preying on the difficult times people are having and taking money for nothing.

Interest rates have probably gone up since you took your mortgage out and maybe and special fixed deal has expired.

If you are not tied in, you may find a better deal elsewhere, but remortgaging in the current climate is not easy