Stick or twist?

silvercar

It is with CBS.

When we moved and needed to increase the mortgage they let us have the extra on the old deal, so now it is all amalgamated. Haven't had any offers since the fixed rate finished nearly a year ago.

Ideally you do want to amalgamate, to avoid dificulty if you wanted to remortgage elsewhere and one part still had ERCs.

I think 4.5% and 5% fixes are good deals in the long term. I'm hoping to offset completely in the next few years, so am not bothered about any deal.

Gina_Jack_of_all...

I'm in the same boat with CBS.

I got a fixed deal which runs out at the end of December but am tied as when I moved house a couple of years ago, I got a second fixed five year deal with them for the extra needed to move. So I face a redemption of 3.75% on that part if I go elswhere.

When I rang recently, they offered to transfer the initial deal to 4.5% for three years without penalties but wouldn't let me transfer the other deal over as well, even with redemption.

I live in a postcode which was voted as one of the top in the country recently and houses around here are holding there prices very well (considering) and we have over 50% equity so I asked for an additonal 30K for home improvements (still having a 40% equity) but was told this would have to be at (i think) about 7.6% so this would be yet another deal to tie me in which I don't want, so I am now looking to transfer it all, swallowing the 2.5k redemption, and go elsewhere, keeping it tidy and giving me more leverage when the initial rate finishes.

In the meantime I think I let the initial rate go over to their privalige rate (whatever they chose it to be on Dec 15th!) for a while and pray for a miracle.

If anyone else has experience of this or have any words of wisdom, it would be greatly appreciated.