Britannia Mortgage......

mic200202

They are an ok lender. The fee upfront needs to be refundable should you not proceed.This should be explained on the Illustration they give you. I would suggest you get a full illustration as you can only see then the full ins and outs of the deal.You are sitting at 79% loan to value, so you need to be careful when the surveyor goes out that the property will still value out at that amount.There would be a very good chance that it will have dropped in value from March especially new build,which will affect your new loan set up. This could mean a renegotiation on the price (which will suit you). New build buyers are at a premium so there could be a good discount in there for you. You should also check the status of your deposit with your solicitor to ensure its safe (this money should not have been paid over to the builder without clauses such as subject to satisfactory survey etc). Your last mortgage with BoS - they tend to specialise in self cert and flexible lending- the Britannia are a full status lender , so check to make sure that if proceeding you can prove all of the incomes and can back everything up.

latecomer

We took out a fairly large mortgage with them back earlier this year. Our only problem was with the paperwork. The mortgage advisor in the branch said she only need 1 or 2 payslips from my OH but after not hearing anything for a while we phoned them and found out that they needed an additional payslip and as they didn't have it, they had written to her employer (NHS) for confirmation of employment.
They claimed they couldn't tell us what other proof would be acceptable as "they cant disclose that information".

Got them to finally agree to simply taking another payslip although I dont know why they didn't just ask for one in the first place? This was on the last working day before christmas and we could have done without it. We managed to get it faxed to them and everything was completed in time.

There was also some confusion over the payment dates and the broken interest charged.

All in all it wasn't the best but that was mostly due to the mortgage advisor in the branch. At the time they had the best rate by nearly 0.5% so it was worth it.

Scirocco_2

Think the value is safe, we were one of the first to reserve and every other one that has been sold since is still selling for a little more than we agreed. so the market is agreeing they are still 'worth' what we are paying.

Doubtful there will be any room for negotiation, cant see a builder haggling on it once the deal is signed, I'm in Scotland, so its legally binding.

No problem proving income, etc, havn't made any elaborate income claims on the forms, infact been a little on the shy side havn't told them about any overtime / bonus payment i recieve.

Going to see th IFA this week, so will confirm things with him before i proceed.

Livingthedream

Britannia do some good deal for existing member/customers. I've just remortgaged with them last month and took their members only 5.34% for 3yrs fees £499 which even with the recent 0.5% BOE rate cut is still a good deal. Also got a good rate of 7% fix on my savings and with the Members rewards adding over a £100 to my savings each year, got to be happy.

marshallka

Livingthedream wrote: »

Britannia do some good deal for existing member/customers. I've just remortgaged with them last month and took their members only 5.34% for 3yrs fees £499 which even with the recent 0.5% BOE rate cut is still a good deal. Also got a good rate of 7% fix on my savings and with the Members rewards adding over a £100 to my savings each year, got to be happy.

You may be due a windfall as these may be merging with the Co-op soon.

It is unclear whether Britannia's 3 million members would receive a windfall payment as part of the deal. Richardson said it was too early to comment about the impact on customers and staff.

http://www.guardian.co.uk/money/2008/oct/13/britannia-coop

Livingthedream

marshallka wrote: »

You may be due a windfall as these may be merging with the Co-op soon.

That would be most Welcome :T

But have to wait and see, knowing my luck there will be a caveat about been a member for over 5 years :mad: