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  • FIRST POST
    • westv
    • By westv 16th Mar 17, 5:14 PM
    • 4,249Posts
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    westv
    Skipton Remortgage Fees
    • #1
    • 16th Mar 17, 5:14 PM
    Skipton Remortgage Fees 16th Mar 17 at 5:14 PM
    The last time I checked a month or so ago they offered fee free 2 year fixed rates for remortgages. Now they all have a £995 "completion fee" (ouch!). When did it change? Do these charges also apply to present customers switching products?
Page 1
    • ACG
    • By ACG 16th Mar 17, 5:22 PM
    • 15,050 Posts
    • 7,611 Thanks
    ACG
    • #2
    • 16th Mar 17, 5:22 PM
    • #2
    • 16th Mar 17, 5:22 PM
    Thursday 9th March.

    I am pretty sure the products they have for new customers are the same as the ones for existing customers, but there is no harm in calling up and asking.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • westv
    • By westv 16th Mar 17, 5:37 PM
    • 4,249 Posts
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    westv
    • #3
    • 16th Mar 17, 5:37 PM
    • #3
    • 16th Mar 17, 5:37 PM
    Thanks. I think I'll wait and see if they are going to charge me a fee to stay a customer!
    • kingstreet
    • By kingstreet 16th Mar 17, 9:45 PM
    • 31,582 Posts
    • 16,869 Thanks
    kingstreet
    • #4
    • 16th Mar 17, 9:45 PM
    • #4
    • 16th Mar 17, 9:45 PM
    If you are an existing borrower, you need customer retention products, not for those remortgaging. They are new borrowers to the lender using a new mortgage to repay the old one.

    I can see no products for existing borrowers not moving home here;-

    http://www.skipton.co.uk/mortgages/mortgage-hub/switching-mortgage-products

    Switching mortgage products

    Our mortgage product switching process involves a personal telephone review with a Skipton Direct Mortgage Adviser, who will provide you with advice to get the mortgage that is right for you.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
    • westv
    • By westv 16th Mar 17, 10:26 PM
    • 4,249 Posts
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    westv
    • #5
    • 16th Mar 17, 10:26 PM
    • #5
    • 16th Mar 17, 10:26 PM
    I don't want, or need, a "personal telephone review" so I'll wait and see what they say when the contact me. They say 2 months prior to expiry.
    • csgohan4
    • By csgohan4 17th Mar 17, 8:35 AM
    • 3,567 Posts
    • 2,239 Thanks
    csgohan4
    • #6
    • 17th Mar 17, 8:35 AM
    • #6
    • 17th Mar 17, 8:35 AM
    I don't want, or need, a "personal telephone review" so I'll wait and see what they say when the contact me. They say 2 months prior to expiry.
    Originally posted by westv
    you need to check the customer retention products online, log into your account a few months before your deal expires.
    "It is prudent when shopping for something important, not to limit yourself to Pound land"
    • westv
    • By westv 28th Apr 17, 10:59 PM
    • 4,249 Posts
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    westv
    • #7
    • 28th Apr 17, 10:59 PM
    • #7
    • 28th Apr 17, 10:59 PM
    I don't want, or need, a "personal telephone review" so I'll wait and see what they say when the contact me. They say 2 months prior to expiry.
    Originally posted by westv
    you need to check the customer retention products online, log into your account a few months before your deal expires.
    Originally posted by csgohan4
    Well they have just sent a letter to me but all it says is to ring them for a 1 hour (!!) telephone review. What a waste of time!
    • csgohan4
    • By csgohan4 29th Apr 17, 9:20 AM
    • 3,567 Posts
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    csgohan4
    • #8
    • 29th Apr 17, 9:20 AM
    • #8
    • 29th Apr 17, 9:20 AM
    Well they have just sent a letter to me but all it says is to ring them for a 1 hour (!!) telephone review. What a waste of time!
    Originally posted by westv
    do you have an online account which shows retention products?
    "It is prudent when shopping for something important, not to limit yourself to Pound land"
    • westv
    • By westv 29th Apr 17, 12:02 PM
    • 4,249 Posts
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    westv
    • #9
    • 29th Apr 17, 12:02 PM
    • #9
    • 29th Apr 17, 12:02 PM
    do you have an online account which shows retention products?
    Originally posted by csgohan4
    I have online access but all it shows is my mortgage balance that's all. I guess I'll have to call/message them and tell them I don't want advice.
    • westv
    • By westv 30th Apr 17, 9:34 AM
    • 4,249 Posts
    • 1,820 Thanks
    westv
    I might also ask them to do a revaluation.
    Skipton quote 0.68% increase based on the Halifax House Price Index. This is close to Nationwide at 0.40%. However, the Land Registry shows 15% increase which is probably due to their more local data. 15% increase seems closer to the sold price increases I have seen on Rightmove.
    • westv
    • By westv 2nd May 17, 2:41 PM
    • 4,249 Posts
    • 1,820 Thanks
    westv
    I contacted Skipton. As per their website message they don't do non advised product transfers.
    The person I spoke to said this was due to FCA rules but I said that other lenders allow non advised.
    I did question the point of wasting an hour of each others time to discuss details that have remain unchanged since the mortgage was taken out.
    • ACG
    • By ACG 2nd May 17, 2:56 PM
    • 15,050 Posts
    • 7,611 Thanks
    ACG
    Skipton do not do online transfers.
    Lenders can only do non advised transfers if there is no human element as far as I am aware.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • westv
    • By westv 2nd May 17, 3:00 PM
    • 4,249 Posts
    • 1,820 Thanks
    westv
    Skipton do not do online transfers.
    Lenders can only do non advised transfers if there is no human element as far as I am aware.
    Originally posted by ACG
    Well there wouldn't be a human element if they did what other lenders do for product switches.
    • westv
    • By westv 2nd May 17, 3:14 PM
    • 4,249 Posts
    • 1,820 Thanks
    westv
    Well there wouldn't be a human element if they did what other lenders do for product switches.
    Originally posted by westv
    and what on earth do they waffle on about that takes an hour?!
    • ACG
    • By ACG 2nd May 17, 5:35 PM
    • 15,050 Posts
    • 7,611 Thanks
    ACG
    I agree. I used to work for a bank and they are so ***t scared of getting a complaint that they go to the other extreme and cover off every potential issue, following scripts and basically covering their own backside.

    I have done a factfind with a client in 20 minutes, although most take around 45-60 minutes...I also remember one taking over 2 hours, but I blame the client for that :P

    So with the script and filling in the computer as you go, it does take longer.

    I do not disagree with you, but it bodes well for brokers that banks suck all of the fun out of applying for a mortgage (by fun, I mean excitement of buying your new home) and take 4 days to fill out a form.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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