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Mortgage switch & top up advice

  • 08-12-2020 10:15pm
    #1
    Mikey555
    Registered Users Posts: 5 ✭


    Hi all

    Looking for some advice or anyone that has experienced this.
    We have recently applied to switch and top up our mortgage to a different bank. Currently have a home improvement credit union loan and the bank have said we can use the top up on the mortgage to clear the credit union loan.
    Our monthly payments will be a lot less by doing this.
    One of the banks conditions of this is the c.u. loan must have been taken out at least 12 months previous, we took it out 3 years ago.
    However ever we topped up this c.u. loan 4 weeks ago by a small amount for emergency car repairs and now the advisor in the bank is telling us we cant apply for the mortgage top up as the c.u. loan is classed as being taken out 4 weeks ago not 3 years ago.
    Has anybody came across anything like this before?
    We will have enough pay off the the top up part of the cu loan in January if that would help.

    Tia


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