remortgage advice

[heave]

Thanks for the reply Tintin & Tetley. I'll dig out the old paperwork and keep chipping away at the bank.

Thanks

[tintin]

you need to get copies of the mortgage you signed up to is it fixed, is the rate good, can you overpay and therefor reduce the term without penalty, is it a cap and collar mortgage where the rate cannot go above a certain figure or below a figure as this type is illegal in spain and the lender can be taken to court. The amount you are paying seems very high as my buildings and contents for a â,¬200,000 villa is â,¬318 per annum and although the bank pushed me for life cover I declined.
Mike

[Tetley]

Morning all,

My Mortgage is a 30 year term (still kicking myself for agreeing to 30 years) and has 19 years to run. I would like to remortgage onto a shorter term if possible, but struggling to find any information on the feasibility of doing this in Spain (very common in UK) and had little joy so far with my bank.

Also, my bank (Cajamar) is telling me I MUST take life & house insurance with them, which is proving VERY expensive and I know I can get much much cheaper elsewhere. I have queried this with them and they are going to review the cost, but they are insistent that when the mortgage was offered back in 2009, using their life & home cover would have been a requirement of the offer.   I asked them for evidence of this, which they have confirmed they do not have as it is not written anywhere.      This discussion is still ongoing.

I have been very happy with Cajamar since opening my account back in 2005, but as more of the work normally done in branch has been moved back to head office I am finding myself hitting redtape all the time.  Im also UK based, which I know is also a barrier at the moment as I cannot just walk into branch.

My next Life/Home cover is due end of Feb and will be well in excess of ¢1.3k, and will make a very large dent in my account.

Any thoughts/suggestions.

Thanks

ps. my mortgage is around ¢75k and Im 51 in good health - Hardly a high risk I would have thought.

you need to contact a good administration law firm that are familiar with dealing with...... the banks, ask them to check your mortgage paperwork checking out  to see what you signed up to and the on going terms & conditions  checking for there  current relevance .

[heave]

Morning all,

My Mortgage is a 30 year term (still kicking myself for agreeing to 30 years) and has 19 years to run. I would like to remortgage onto a shorter term if possible, but struggling to find any information on the feasibility of doing this in Spain (very common in UK) and had little joy so far with my bank.

Also, my bank (Cajamar) is telling me I MUST take life & house insurance with them, which is proving VERY expensive and I know I can get much much cheaper elsewhere. I have queried this with them and they are going to review the cost, but they are insistent that when the mortgage was offered back in 2009, using their life & home cover would have been a requirement of the offer.   I asked them for evidence of this, which they have confirmed they do not have as it is not written anywhere.      This discussion is still ongoing.

I have been very happy with Cajamar since opening my account back in 2005, but as more of the work normally done in branch has been moved back to head office I am finding myself hitting redtape all the time.  Im also UK based, which I know is also a barrier at the moment as I cannot just walk into branch.

My next Life/Home cover is due end of Feb and will be well in excess of ¢1.3k, and will make a very large dent in my account.

Any thoughts/suggestions.

Thanks

ps. my mortgage is around ¢75k and Im 51 in good health - Hardly a high risk I would have thought.