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    • prezzacc
    • By prezzacc 13th Jul 17, 12:04 AM
    • 100Posts
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    prezzacc
    Where to compare mortgage features
    • #1
    • 13th Jul 17, 12:04 AM
    Where to compare mortgage features 13th Jul 17 at 12:04 AM
    Hi,

    Currently looking around at re mortgage. Found a few sites and will also contact a whole market broker when I've done more research.

    I'm with nationwide and like my overpayments features. What I'm interested in is mortgage features, ie the unlimited overpayments, no ERC, borrow back option etc. When I'm searching this isn't easily available that I can find?

    Are there any sites that list these?

    Thanks all
Page 1
    • kingstreet
    • By kingstreet 13th Jul 17, 7:55 AM
    • 31,726 Posts
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    kingstreet
    • #2
    • 13th Jul 17, 7:55 AM
    • #2
    • 13th Jul 17, 7:55 AM
    Features such as borrow-back are no longer available. Since MMR, lenders have removed options which allow borrowing without evidence of income/affordability.

    Presumably you have a pre-March 2010 Nationwide mortgage on BMR?

    Also if you change Nationwide products, you will lose those features and will return to SVR not BMR when your product ends.
    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.
    • glosoli
    • By glosoli 13th Jul 17, 8:20 AM
    • 574 Posts
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    glosoli
    • #3
    • 13th Jul 17, 8:20 AM
    • #3
    • 13th Jul 17, 8:20 AM
    The lender I work for still offers borrow back, on the condition that the customer hasn't reduced their repayments below what is on the offer document as per the overpayments they have made, If they do, they have to forgo their borrow back facility. Not sure how it works elsewhere.
    • ACG
    • By ACG 13th Jul 17, 9:26 AM
    • 15,231 Posts
    • 7,700 Thanks
    ACG
    • #4
    • 13th Jul 17, 9:26 AM
    • #4
    • 13th Jul 17, 9:26 AM
    Most of those sites are geared up to the masses/to sell leads to mortgage brokers. Giving you too much to make youre own decision would mean they do not get to sell their leads and also, in reality very few people will be looking for no ERCs.

    There are only a handful of lenders who offer no ERCs and most of those are only on some products (usually variable rate mortgages).

    I realise that doesnt help much, but I thought it would help if you knew why it was not common.
    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.
    • prezzacc
    • By prezzacc 13th Jul 17, 7:45 PM
    • 100 Posts
    • 5 Thanks
    prezzacc
    • #5
    • 13th Jul 17, 7:45 PM
    • #5
    • 13th Jul 17, 7:45 PM
    Thanks to all that replied.

    Kingstreet i am indeed on that mortgage! I know alot of people say dont leave it but i cant help seeing these lower rates and wondering if i cant just keep changing every couple years much as i would my energy to get the cheapest rates! ( I know a mortgage isnt quite that simple!)

    Thanks for the help though, i just wanted to see what sort of features other lenders offered but it seems like there arent many. I assume one thing i could look at is an offset savings account.

    Just out of interest i wouldnt be borrowing any money as such, i would be taking back what i have already paid! Ie not taking extra money out?

    Thanks though.
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