I will tell you this about Mortgage Express. They are no longer lending to anyone, and haven't been for some years now. They are trying to get away from the Mortgage market altogether and are hoping people will repay their mortgages early. Thing is, it's not necessarily in the landlord's interest to do so. If your mortgages are anything like the ONE I have with them, they'll be extremely low rate and extremely high LTV, particularly now after the recession. They were very happy in 2007 to lend 85% of the THEN value. Everyone was back then. I borrowed £136k against a property then worth £160k. I could have actually had more from another lender who was offering 90% of £170k, but thought Mortgage Express was a better deal for several reasons at the time. Now though, even with property values starting to go back up, I'd struggle to get close to £136k from another lender, and certainly the rate wouldn't favour from another lender. So if that's me with one property, it's no wonder with 15 properties they want to see you. They want their money back. Simples. Best bet, try and avoid them. You don't have to meet them and I don't think you'll be doing yourself any favours if you do.

I forgot to say in my message, Natwest bank have tried a similar trick on 3 separate occasions since December 2011. I have my main bank account with them and also a big personal loan and a rather substantial overdraft. They want an account review and I have refused to attend any of the meetings they have arranged. I know why! They want their money back as well. All in good time though 🙂

hi there i have several mortgages through MX and they are a disaster thanks to the guy who gave me my mortgages JOHN STARZAKER who has been done for mortgage fraud and been jailed google him if you dont believe me.I recently had a meeting with the main director of MX and he basically said because they are government backed its actually better for MX if i got bankrupt because they claim the total loss of my property and when they get them back they then put them to auction and make more money. If anyone can help me please get in touch at

Hi Stan

I am very sorry to hear about your predicament, were you a victim of the John Stirzaker fraud?

John Stirzaker was employed by a franchisee of my former business. In 2008 our compliance team discovered his crimes and reported him to the Police and other regulators. We also took the very difficult decision to terminate the franchise agreement for the company he worked for. The franchisee went bust and my business was left to pay all the redundancy costs under a law called TUPE. We subsequently closed down the entire business. The stress of the experience lead to my business partner having a heart attack - see this Thames Valley Police Report >>>
http://www.thamesvalley.police.uk/newsevents/newsevents-pressreleases/newsevents-pressreleases-item.htm?id=160461

I understand that Stirzaker is now out of prison.

hello, cant do anything am with nram want to get on refurb etc got fully flex nrock so why toxic nram do you know what was the criteria to pass over mortgages to nram I have 2, 1 btl 1 res. both good London props now 50% equity .am 69 and only small other income pension as plans further btl income after refurb.son and wife will try for mortgage but not high earners etc .fed up as still waiting hmrc 4 years to return of some money maxed out cc loans and want to clear everything except mortgages .,can you see any options, many thanks for information on site very useful, a bit eye opening, but forewarned etc. hope this gets to you many thanks T

If you portfolio landlord (being 5 or more properties) MX can demand information from you. You are therefore advised to cooperate with their Commercial Manager. They are basically assessing your risk profile to them. As stated, they cannot lend anymore and are looking to wind down the mortgage book.

They cannot force you to over pay, or remortgage and so long as you pay the mortgages due, you are fine. They will encourage you to do so, but you can politely decline.

It does not make sense to go hostile with them as you risk a mortgage breach.

I have been worrying since MX asked to come and review my portfolio as many are in negative equity and most are expiring in 4 time years as they were 10 year mortgages. I have thought I might start selling the properties in positive equity until they provide enough equity to make up for the ones carrying negative equity. What will happen if I start this strategy? I have heard rumours that MX will close down my portfolio and take the properties back. Has anyone any experience of this? Also what might they do at the end of the term? Will I have the option to sell them? Confused as various opinions are alive?

I would start off by selling any properties that are in positive equity, but have a high interest rate, but perhaps not the best monthly profit. You don't need to worry so much about the review at the moment, but in 4 years time, if you cannot pay back those mortgages the properties will be repossessed and you will not have the option to sell. They will be sold for you, and you won't see a penny, and could well end up owing thousands, firstly to pay off the mortgages, then fees and court costs etc. It will also mean you will have severe problems getting credit in future.

It sounds like, ultimately you may have to sell all the properties, so if you start now, you won't be desperate to sell nearer the time as panic sets in. From what we keep hearing, the market isn't going to change much pricewise for several years, so waiting may not be a wise thing to do.

There are several issues here. First, was your mortgage term 10 years or was it a 10 year fixed rate and a longer mortgage term. Check your paperwork. Second, I've heard that MX policy is to use 100% of sale proceeds to repay the mortgage and to credit other accounts. Apparently they have the right to do this whether you like it or not. This could leave you in a very difficult position if you have CGT to pay. I've also heard that if you sell one property that they have the right to call in all of their mortgages. Be very careful and take advice. I recommend Glenn Ackroyd at National Property Group.

@jmoo - please also see this thread >>> http://www.property118.com/index.php/uproar-as-mortgage-express-spokesman-reveals-their-exit-strategies/7808/