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Moving Mortgages
https://www.beexcellenttoeachother.com/forum/viewtopic.php?f=3&t=10300		 Page 1 of 1
Author:  asfish [ Tue Jan 06, 2015 8:40 ]
Post subject:  Moving Mortgages
I have 2 separate lumps of money that make up our mortgage, one fixed for 10 one fixed for 5.

Was looking to change providers as the rates aren't bad, but I could save around £300 a month over 5 years on other deals, but would maybe have to pay £3,000 to close the 5 year one down early.

Bit worried now that as my wife is getting laid off I will be screwed on moving as the loan was based on both of us earning.

I could have made plans last year but that would have cost me another £2-3000, the get out payments drop a fair bit when the terms get to the last year and the 10 year one has only a year to run now

Anyone know how this would work? I'm not asking for any more money just want to move what we have to a better deal?
Author:  markg [ Tue Jan 06, 2015 9:20 ]
Post subject:  Re: Moving Mortgages
I usually give London and Country a ring for mortgage advice:

http://www.lcplc.co.uk/

The last couple of times I have phoned them they have just advised us to stay with our current provider, so they seem pretty decent.
Author:  asfish [ Tue Jan 06, 2015 11:01 ]
Post subject:  Re: Moving Mortgages
Ok thanks for that will give them a call
Author:  asfish [ Wed May 20, 2015 13:23 ]
Post subject:  Re: Moving Mortgages
I had a call with my mortgage lender today (The Leeds)

I have what they call 2 products making up my borrowing, the first is a 5 year fixed that runs out next month, the 2nd is a 10 year fixed that ends November 2016

So I wanted to understand the cost of moving to variable rate on the 5 year, its £30 a month more so no issue (the fixed rates I have aren't brilliant @4.7)

So then I asked him for a repayment figure if I moved everything to a 10 year fixed @3.34 on their site

He told me that I couldn't have that deal as its for new business only and that I would have to pay 4.7% :blown:

So a mutual gives worse deals to its members than none members?!

Some fucking off elsewhere January when the I can get out of the 10 year deal early with the least cost

Only good news was that for borrowing purposes I have 40% in the house so at least meet the criteria for the better deals
Author:  Dr Zoidberg [ Wed May 20, 2015 20:51 ]
Post subject:  Re: Moving Mortgages
Yeah, you should be much better off once you take the lot elsewhere. Don't be surprised if the current lender decides you are eligible for a much better deal just before the deadline though. I think the early shite offer is just to ensnare the gullible.
Author:  MaliA [ Thu May 21, 2015 9:46 ]
Post subject:  Re: Moving Mortgages
Dr Zoidberg wrote:
Yeah, you should be much better off once you take the lot elsewhere. Don't be surprised if the current lender decides you are eligible for a much better deal just before the deadline though.


Yeah, when our deal runs out we might switch if we don't move...

Quote:
think the early shite offer is just to ensnare the gullible.


..because going early will cost five large. Oh....
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