Lender Would Like Me to Get Off My Tracker!

Ed_Zep

I think I put that title because there's a Carry On film on.

Anyway, I have 0.5%+BOE tracker with the Newcastle Building Society. Today I received a letter saying "Great News! Fix Your Mortgage Payment Now at 2.25%"

I'm currently paying 2.5% but despite it being a lower rate and fee-free, after 2 years it reverts to the variable rate and I can't make overpayments.
They must think I'm mad. I can only assume they're seriously worried about rates staying low for quite a while.

Anyway, thought I'd mention it as your lender may be sending you something similar quite soon.

Ed.

wannasavemoney

Hi Edzep
we've got a tracker deal with barclays for .19 above base rate but havent had a letter off them yet. When i read your post i mentioned to the oh that years ago, banks were familiar with their clients and tried to help them save money not try to slyly get it out of them - how times have changed. Too many sharks these days.:o

Ed_Zep

Hi Wannasavemoney,

that is a great rate! You're right, lenders don't care about their customers any more. They try to scam us and we have to get out own back using sites like this one.