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Daft people!
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Rebob
Posts: 1,010 Forumite
The other day I received a letter stating that the fixed rate part of my mortgage has ended and that it was going onto a standard variable rate. I have been thinking of what to do 
and as it was a small amount and I have a capped rate with them I phoned abbey. 
I asked what products were available and if the fee would outway the saving. The special product advisor that I was passed to said it would be a waste of time! I asked the same thing again ie what products were available and what would it cost? Answer - Not all products carry a fee - we have a discount of 1.?% for 2 years - I dont think that it will make any difference to your payment though....I will just check.....It will reduce your payment by £4.25 pm.......Not worth bothering......
My answer was yes I will bother as that is about £50 per year! That is £100 to me over the two years :j and she thought it a waste of time!!!!!!!!! It makes me so mad as someone else who is not very good with figures would have listened to her and paid £100 more. :eek: :mad: Not bad for an advisor!!!! :mad: :mad: :mad:
and as it was a small amount and I have a capped rate with them I phoned abbey. I asked what products were available and if the fee would outway the saving. The special product advisor that I was passed to said it would be a waste of time! I asked the same thing again ie what products were available and what would it cost? Answer - Not all products carry a fee - we have a discount of 1.?% for 2 years - I dont think that it will make any difference to your payment though....I will just check.....It will reduce your payment by £4.25 pm.......Not worth bothering......My answer was yes I will bother as that is about £50 per year! That is £100 to me over the two years :j and she thought it a waste of time!!!!!!!!! It makes me so mad as someone else who is not very good with figures would have listened to her and paid £100 more. :eek: :mad: Not bad for an advisor!!!! :mad: :mad: :mad:
The best bargains are priceless!!!!!!!!!! :T :T :T
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Comments
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Have you considered the other costs of switching to a different mortgage (with Abbey), i.e. arrangement fee, valuation fee, old mortgage exit fee, etc, etc, I think the adviser might be doing you a favour. You need to weigh up all the costs not just the headline percentage / monthly payments.
cloud_dogPersonal Responsibility - Sad but True
Sometimes.... I am like a dog with a bone0 -
There are no fees such as the arrangement or valuation fee. I did check this. All that I wanted was to not be paying the svr on this amount. I already have both the loans making my mortgage with abbey. It was just a small amount that was still outstanding when I moved. The new top up amount was capped but so that I avoided charges we had left the other on the fixed rate. It was the ending of the fixed rate period.The best bargains are priceless!!!!!!!!!! :T :T :T0
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Rebob wrote:I dont think that it will make any difference to your payment though....I will just check.....It will reduce your payment by £4.25 pm.......Not worth bothering......
What a lovely job.....wasting other people's money for them! "One day I realised that when you are lying in your grave, it's no good saying, "I was too shy, too frightened."
Because by then you've blown your chances. That's it."0 -
mrcow wrote:What a lovely job.....wasting other people's money for them!
And the winner is ........... this bloke0 -
In which case can I nominate Lord Falconer as first runner up, for his tireless money wasting efforts surrounding the fiasco that is the Millenium Dome?
Well deserved :T
http://news.bbc.co.uk/1/hi/uk_politics/944266.stm
How do you get a job like that?"One day I realised that when you are lying in your grave, it's no good saying, "I was too shy, too frightened."
Because by then you've blown your chances. That's it."0 -
To be honest, the majority of people couldn't be bothered to go through with all the palaver for that kind of saving. Also, she's probably been told to try and avoid things like that.Scott0
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