She has repeatedly tried to move to a more competitive rate.
“But the thought of working full-time is just not fair, as I know I will deteriorate and be unable to work eventually."I just hope I live long enough to pay it off.” This more lenient assessment will apply to borrowers remortgaging with either their existing lender or who want to switch to a new provider.
Nick Morrey, product technical manager at broker John Charcol warns that this is a problem. He also says it may be difficult to get borrowers to take action even when the new rules take force. "The second problem is borrower engagement. It's all well and good telling borrowers they can move their mortgage but it’s how the FCA will link these mortgage prisoners up to a solution.
I live under a bridge
Lucky them.