Abbey Mortgage Offer - Existing customer

System

WaveyDave wrote: »

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.

Ah I see now, the "remortgage" bit threw me off, of course new customers could be remortgaging.

Thanks, I'll call later. Part of me doesn't want to know the response and part of me does

Amarillo

Good luck Joeskeppi, I have my fingers crossed for you. Would you mind posting up how you got on once you have phoned them ? Many thanks.

HelpWhereIcan

After my paraplanner being on hold for 30 mins to the Abbey's retention team and arguing with the lady about whether my customer had to deal with it themselves or whether the Abbey had to accept my client authority letter ...

it appears that the Abbey do not have a specific existing customer range of deals in the usual sense.

The new deal you will be offered depends on a couple of things:

Your LTV
Your rating with Abbey
How long you have been with them

So a simple question

"What will you offer an existing client with 60% LTV looking for a 3 or 5 year fixed rate?"

is answered,

"It depends, let me have the account number and I'll tell you what they can have"

Essentially someone with 60% LTV looking for a 3 year fixed rate may get:

A rate between 4.19 and 4.79 with a fee based on their account

Someone looking for a 5 year would get

4.99% with a fee based on their account

I just love it when lenders make it simple for everyone.

System

Amarillo wrote: »

Good luck Joeskeppi, I have my fingers crossed for you. Would you mind posting up how you got on once you have phoned them ? Many thanks.

Thanks Given there appears to be a long wait time I will be phoning out of work time I'll keep you posted.

chrisclipson

If you phone in the evening the wait time is not so bad - between 7 and 8 it seems to be easy to get through.

WaveyDave_2

chrisclipson wrote: »

If you phone in the evening the wait time is not so bad - between 7 and 8 it seems to be easy to get through.

Took me 25 mins a time, 3 times in the same evening between 7-9

davidla

Up until a month ago Abbey had only offered us a one year deal (our LTV is about 90%) - today they offered us 2, 3, 5 and 7 year deals! From 4.49 to 5.25% - mostly GBP624 fees except 7 year which is GBP125.
Quite tempted by the 5 year 4.99% deal with the GBP624 fee but last time we tried to fix too early in Aug 08 with HSBC at 6.49% :eek: and paid GBP800 for nothing (as we cancelled the deal before it was drawn down) so we are releuctant to go too early when we might be able to get a better deal later on - or even the same deal would be fine (our SVR is 4.24% from April).
Decisions! Decisions!
David

brownsugar

Hi..

I've also got 90% LTV and everytime I rung Abbey I was only being offered the 1 year deal so I stayed on the flexible SVR. Now you've mentioned that there is now a longer fixed term on offer I will ring again to see what deals they have available for me. Even though the SVR has gone down I think I'll have more peace of mind and get another fixed deal (mine ended in Feb).

..Ron

BigLad_2

Deleted by poster.

suncika

Hi,

I'm currently on Abbey's SVR and phoned them over weekend to find out about fixed deals for existing clients.
I can't decide between 3 years deal @ 4.49%(£125 fee) and 5 years deal @ 4.99%(£125 fee).
What do you reckon, should I go for 3 or 5 years, as the difference in a monthly payment would be around £35 per month.The saving with 3 years deal is 3x12x35=£1,260 over 3 year period, but I'll be left exposed to higher interest rates when the deal finishes in July 2012.
Many thanks.