# has anyone used this firm:  "Mortgage Negotiators", to communicate with a bank



## moonfish (8 May 2012)

has anyone used this firm to communicate with a bank


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## Bronte (8 May 2012)

What is it you are trying to do?


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## moonfish (8 May 2012)

hi bronte i really need to try and negotiate a deal with my bank i have two mortgages when we bought this house the buyer pulled out of buying my last place so i had to rent out .my rented property was put on investment rates which is 6% nearly.because of this i have both on interest only if i could negotiate a cheaper rate for my investment then at least i could take my principle residence off interest only.


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## Brendan Burgess (8 May 2012)

moonfish said:


> my rented property was put on investment rates which is 6% nearly.



What lender are you with? 

Did you check the terms of your mortgage. Unless they specifically said that they would charge you an investment rate if you let the house, I don't think that they can do this. 

NIB , for example, has it in their mortgage agreement. I don't know if the others have.

Brendan


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## moonfish (8 May 2012)

im with kbc my way of looking at is for my this house is not an investment i dont want it as soon as i can i will sell it only cause of what happened i have to keep it and rent it.i just want to know show i get legal advance before i approach the the bank or will just go them myself.


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## Alexmartin (13 May 2012)

Get a good negotiator to negotiate for you.  That goes for all negotiations.  Its a skill that most people do not have.


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## Pexus1976 (15 May 2012)

Your first port of call should be mabs.ie ensure you communicate with the bank on a regular basis.


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## Time (15 May 2012)

Why Mabs?


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## Bronte (16 May 2012)

moonfish said:


> im with kbc my way of looking at is for my this house is not an investment i dont want it as soon as i can i will sell it only cause of what happened i have to keep it and rent it.i just want to know show i get legal advance before i approach the the bank or will just go them myself.


 

Of course you can negotiation yourself.  Using a professional company is only going to cost you money, probably money you don't have.  There are a lot of unscruplous people on there.  

Before you go to a meeting you must prepare yourself.  Why don't you post up all the facts and figures on here and tell us exactly what you hope to achieve as a starting point. 

Based on the stories on AAM it seems banks are negotiating, in hopeless cases and in secret. But mostly only where people go in arrears.  Have you looked at the other threads on this.  

Bring someone for moral support to your bank meeting and don't be intimidated.


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## Quest (16 May 2012)

KBC's Residential Invest Variable rate seems to be 4.9% ?  You should not be paying 6%, to be honest I think it unlikely they will re-negotiate on rate, it is not your PDH so the only other class it can fall into is an Investment property..


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## Wishes (16 May 2012)

Time said:


> Why Mabs?



True.  There is a waiting list as long as your arm to get an appointment.


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## wbbs (16 May 2012)

MABS will help with arrears type problems, they are not going to get involved in negotiating  an interest rate reduction on a buy to let, not their remit.


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## PiedPiper (18 May 2012)

I have been into NIB and would not dream of going alone.  I went to the very first meeting alone and it was horrific.  I would advise recording the meeting and having the agenda in advance.  The only one in the end who has anything to lose is you, the house nearly always wins then the negociators are getting paid and so on dont go near them alone.


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