Abbey Mortgage Offer - Existing customer

Amarillo

I would be very grateful if people wouldn't mind posting in their LTV. Abbey have us down as 84% (though I think they have us down with fewer bedrooms than we have so a physical valuation might possibly scrape us a better LTV) so I'm very interested to see if they are offering deals to people with over 75% LTV.

System

What we need is a broker who has the latest rates available. Why they keep their website so out of date is beyond me.

WaveyDave_2

Sorry, don't know what they have my LTV as (they didn't mention it and I didn't ask), we've extensively renovated, so our purchase price doesn't reflect current value. Based on best guess, I'd say we've got a realistic LTV of between 80% and 85% (probably slightly pessimistic) as we've had a valuation that puts between 75% and 80%.

I noticed the first post has a lower fee for the same rate I've taken, so don't know whether that's a reflection that they've got a better LTV, or whether the product has changed.

Amarillo

Thank you waveydavey, that helps and gives me hope that they might offer us a fix.

spat08

i called again last night and was offerred the same as before, but may be usefull for those on around 90% ltv

1 year - 4.49% - £700
3 years - 4.99% - £500
5 Years - 5.49% - £120

they said if i paid off another 5% of my mortgage (to take me to around 85%) then these rates would drop by about 0.5% for each, so eg, 5 years, 4.99..

Still deciding which to go for, 3 or 5 years...any opinions?

space_rider

Joeskeppi wrote: »

All these posts mean nothing without the LTV specified.

When I phoned for their latest deals they never asked me what my house was worth. I bought it Dec 2006 for £145,000 with a deposit of £60,000. When I got the deal of a tracker with BOE + 1.04, Halifax had valued it at £115,000 to remortgage. Because of their low value I stuck with Abbey as they offered a better deal. Valuation was Aug 08.

System

Interesting, my deal is up in 2 months perhaps I should phone

space_rider

Joeskeppi wrote: »

Interesting, my deal is up in 2 months perhaps I should phone

I started phoning them end of July and then again in August as that was when they could give me details of a fixed rate. I reserved a rate then and changed it twice more. When the Lehman bros collapsed I stuck to the deal I reserved that day as that`s when the trackers started to go up. I got a 14 day cooling off on each of the deals and changed it on the 13th day each time. I`m happy with my tracker but would certainly have gone for a fixed rate of under 5%. I am saving the difference between what I`m paying now and 7% as I know the rates will go up sooner or later. I did ask Abbey to leave the payments as they were after the rate reduction in Oct but they seem to not understand my request. I gave up when they reduced it again in Jan and I have a savings account that will pay 5% on the anniversary of opening the account. I will then use that to overpay.

System

Abbey's site has updated today and a lot of deals mentioned in this thread still aren't on the list.

I think it'd be best if I stop relying on their website for info. They seem to be offering better deals on the phone.

WaveyDave_2

Joeskeppi wrote: »

Abbey's site has updated today and a lot of deals mentioned in this thread still aren't on the list.

I think it'd be best if I stop relying on their website for info. They seem to be offering better deals on the phone.

The deals on their site aren't for existing customers, they're for new. You HAVE to phone them as an existing customer. I would give them a call, 2 months isn't too long, my fix doesn't finish until 3/5 and they've set it up so that the new one kicks in on 4th.

Be prepared to wait on the phone though, took me 25 mins to get through each time.