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Britannia Mortgage......

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Hi

Looking for a little advice

needing to get a mortgage in place for the purchase of a new house on the 12th Dec, i need 270k for a 340k house

Having a look on the moneymadeclear site, the best rate going for me on a 3yr fixed is with Britannia.

my questions are,

Are they a decent lender?

Is there anything i should be aware of using a building society rather than a bank? #9Currently with Bank of Scotland for current house mortgage)

Also, If i read rightly they require the £999 arrangement fee would be payable if i secured the loan now, but if i subsequently decided not to go ahead with it if another lender had a better rate nearer the time i would still have to pay the £999 fee, would that be correct?

Any advice would be grateful.
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Comments

  • lisyloo
    lisyloo Posts: 30,077 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Britannia are a very good lender IMO.

    However what on earth are you doing buying a house now?
    It's a dreadful time to buy.
    Are you sure of what you are doing?
  • haha

    It does seem emntal, but we actually bought the house in March - It was a new build bought off plan and is going to be finished on the 12th Dec. 10k deposit is already down on it.

    We've sold our current house making a decent profit on it over the last 2 years, so have 70k equity. Me and the GF both have decent jobs, so making the payments is no issue.

    Anyway, yes i am happy with what we are doing, just looking for some input on the lender before i bite the bullet and sign-up for it.
  • Seivad_2
    Seivad_2 Posts: 13 Forumite
    :j

    For reasons outlined in my posts on the Water forum thread 'Landlady didn't pay water bill....'

    I needed to get a look at my deeds. Telephoned local branch and explained why I needed to see the deeds. They gave me tel no og deeds department. Usual process takes days i.e. have to write to Branch - Branch put a 'task' on the system - and the task is undertaken in turn and deeds sent to Branch. Brach call me at arrage time for me to go in and see deeds.

    Because of my emergency (needed to see if there was anything in the deeds re water supply) - no need to write - task given high priority - copy (not original - which is fine) will be put in post all at no cost to me!

    Well Done Britannia Building Society!:beer:
  • feisty1
    feisty1 Posts: 1,487 Forumite
    If yr current mortgage is with BoS is their some reason why yr not taking that with you to yr new property? Are u on SVR or are you tied in?

    Re' arrangement fee, it is no-refundable

    Arrangement fee (non-refundable)


    With some of our mortgages, we charge an arrangement fee. This fee is used to reserve a particular product or rate for you and will need to be paid at the time of your application. The arrangement fee is non-refundable and may vary for individual products.
    The mortgage you choose will then be reserved for 4 months once your application has been received along with any applicable fee.
  • spuds_2
    spuds_2 Posts: 874 Forumite
    We are with Britannia - they are a decent lender. We have always had quick, friendly service from them without problems (though we haven't had to have that many dealings with them).
  • TuftyMatt
    TuftyMatt Posts: 174 Forumite
    I have been with Britannia since 2002 and have never had a problem.

    I have remortgaged twice since then and it has been done quickly with small costs.

    A great building society I think with members rewards also every year.
    It's far better to be penny wise than pound foolish.

    :beer:
  • RP72
    RP72 Posts: 45 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    I've been with them on a 5 year fix since 2005. No hassles and always very helpful and friendly.

    What I do like about the mortgage I've got is you can make overpayments of up to £499 per month with no penalty. If this might be something you'd like to do, check if you can do this on their latest deals.
  • Thanks for the replies.

    They are offering the best rate for our circumstance at the moment, so its looking likely i will go with them.

    Thanks
  • asandwhen
    asandwhen Posts: 1,407 Forumite
    If you are a member of a union you get a discount with Britannia Building Society
  • marshallka
    marshallka Posts: 14,585 Forumite
    Britannia head office is not too far from where i live and there has been talk of merging with co-op bank

    http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/3180640/Co-op-in-talks-with-Britannia-building-society.html

    Don't know how this would affect mortgages though??
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