General Chat, Products & Comps <
13/02/2013 at 10:56
What do you need when you change mortgage provider? Is it a case of starting over again ie proof of earnings for x years etc?
Ours is up for renewal again in April, before we've just stuck with Santander but I'm not keen on their current offers.
13/02/2013 at 11:10
I could be wrong,we have only changed once but I think it's the whole rigmarole again.
13/02/2013 at 11:12
I'm sure its the whole palava again ours is up in April too and we have started looking round too. Well h has as I just can't hear to do it
13/02/2013 at 11:17
Oh balls, that's a major pita.
13/02/2013 at 11:20
I hate the whole thing, I hate the pressure. One year I sorted it myself, just as the recession was hitting so I was talked into a fixed rate, for five years. I know now it was a mistake to be tied in so long but the thought of changing more often or changing rates scares me.
13/02/2013 at 11:30
We changed via our financial advisor and there was a lot of form filling etc....but we saved £260 a month by doing so!
13/02/2013 at 11:52
Hun my FA is in Bexley if you want his number? He is free and managed to get us a brilliant deal this time and he did all the work!
13/02/2013 at 11:54
We also used 1stbaby's FA and thought he was good, honest and upfront. This didnt win him any work as such from us at the time as we sold up but he still gave us the right advice for us xx
13/02/2013 at 11:57
I don't need FA tbh, if H has to show his books we may as well stick with our current provider.
13/02/2013 at 12:46
wHY CANT HE SHOW HIS BOOKS OR IS THAT TOO MUCH INFO?
13/02/2013 at 12:50
We've never changed providers so I have no idea, but our current deal is finally up in April too (Woohoo!! It's been 5 years of paying a huge interest rate before the market crashed!!) and luckily our current providers have got a pretty good deal for another 5 year fix in comparison to other deals I've looked at so far.
13/02/2013 at 13:02
He can show them, nothing dodgy , but it's a faff getting everything prepared but the accountant plus extra cost and he doesn't earn as much now as he used to when employed so we probably wouldn't even get a better deal.
13/02/2013 at 13:23
You can stick with santander and just change product (not sure what their current deals are looking like though) or ask them to match a competitors product to stop you from switching provider' - I always take the view that if you don't ask you don't get!? We've just gone through the same process but stuck with the same lender and haven't had to do the paperwork palaver (and saved £500 a month!).
13/02/2013 at 13:25
I'm not happy with their rates they are offering us though RS, I'll see what else is out there. I've not even looked properly tbf.
13/02/2013 at 13:32
RobinSparkles(and saved £500 a month!).
Wow, that's a huge saving! We're only able to save about £150 a month.
13/02/2013 at 13:35
My H has shown two payslips, it may only be a case of a couple if months or1 months worth because you have a good rapport with your current bank? I could be talking rubbish thou :)
13/02/2013 at 14:04
Our mortgage is fairly hefty hence the big saving!! Just come out of a three year fix at something like 5.84% (which, believe it or not, was a good deal when we took it out!) onto a two year fix at 2.59%. Makes a massive difference.
13/02/2013 at 14:11
2.59, who on earth is that with?! All Santander would offer me is 4.89% fixed for 2 years.
13/02/2013 at 14:21
Nationwide - we do have 60% LTV ratio though (from adding the loft extension) which helped.
13/02/2013 at 14:36
RS did you just phone round? Did they send a valuer round or just go off prices? We want to reduce years on ours so I'm hoping that we reduce our rate. How long did yours take to sort out. I want h to sort it ASAP without it lingering on x
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