Lewis mortages

Alison


Joined: 21/05/2008
Posts: 49

Message Posted:
22/05/2008 11:31

Hello forum

i am really new on here but asked a question on another thread regarding mortgages and so far had no further response, iwould like to ask if anyone can tell me if the mortgages from this lewis finance and FMA are any good and if they are reliable, i am thinking of buying an apartment and was guided towards these mortgages but it appears that there are set up costs of about £950 what is the forums advice please

Speedypaul


Joined: 28/03/2008
Posts: 65

Message Posted:
22/05/2008 14:40

Hi Alison



I have replied to other posts on this issue and have been criticised at my "stength of reply" so I will simply tell you what I know. I applied to another company two years ago who had similar so called refundable fees. I subsequently found out that there was many people in my position ie paid the fees, no mortgage offers and no deposit returned. I still have the letters. They quoted "we refund where they fail" and said in my case they had not. At the time it was alot of money to lose.



I was sold my property by Lewis Estate Agents (which is no more) and advised by them to go to the mentioned finance company. Lewis Finance is owned by the same previos owner of Lewis Estates.



What they are offering may well be legit. It has been talked about now for some time. However. after my previous experience, I personally would be very uncomfortable handing over cash before an offer is made.



I wish you well and hope that this forum will be used to find the truth behind these mortgages. Has anyone been sucessful in gaining one, please let us know.



SP.

guinness


Joined: 10/03/2008
Posts: 224

Message Posted:
22/05/2008 19:56

Now be fair SP.

You answered my original request for info without first reading it carefully. You gave a kneejerk reaction coloured by your unfortunate experience with the associated company which was not in direct relation to my question.



Anyway, Alison, have you actually been recommended to deal with these Lewis people ?



tnks



guin

Alison


Joined: 21/05/2008
Posts: 49

Message Posted:
23/05/2008 07:05

I was at the Pegasus friday market and was speaking to a young man there some weeks ago who worked i believe for fma and he was telling me about the possibility of these morgages being available so when next out i was intending going to see them as i think i have now decided on an apartment

But it seems that there is no real information available

cyprusishome


Joined: 31/03/2007
Posts: 2381

Message Posted:
23/05/2008 08:30

I will reply in line with previous threads on subject.



Mortgages here are a new market and you should proceed with extreme care.



Consider all other option first because the housing market here as in any other "foreign market" is very volatile. In addition things are starting to go belly up across the world in loan terms.



You will have start up charges and interest rates heading towards 9% currently and who knows where they may end up.



You will find only a handful of people here with experience of using loans to purchase. I will suggest that close to 100% of those who have homes or live here as we do will say keep well away for the foreseeable future of mortgages unless you are in a position to loose the lot.

guinness


Joined: 10/03/2008
Posts: 224

Message Posted:
23/05/2008 11:54

Correct CIH and that is why I asked the question about Lewis originally.



As you can see, its a silent response except for the valuable feedback about associates etc.



Alison, in my other thread you will see that FMA are recommended, but still once again, no one with direct experience has come forward.



I am trying some other routes to find out about mortgages - if any - and will contact you as soon as I have positive news. Meanwhile keep looking too !



cheers

guin

markie


Joined: 06/05/2008
Posts: 3

Message Posted:
25/05/2008 18:04

I believe you need to have your permission to buy before the banks involved will issue a mortgage, i would check this before parting with any money.