Abbey Mortgage Offer - Existing customer

System

Been on hold an hour and 6 minutes so far

I'm thinking monday lunchtime wasn't a good idea

pilch23

I have just taken 5 years fixed at 4.99% and £125.

Main reasoning is it is cheaper than I am currentrly paying at 5.4% and I can sleep reasonably well until 2014 and at some point the banks will want to recoup these cheap rates and I for one don't want to be the one to pay.

Going for the long term!

System

Hmm, the hold music got swapped to the ringing tone 5 minutes ago, I think I'll hang up...

Edit: I hung up, bit of a waste of a lunch time, will try this evening.

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.

Right, got through.

They could only offer me a 1 year fixed at 4.59%, which doesn't really interest me to be honest.

He said if I made a 10% capital repayment then I could get a better deal, but I only have about 7% saved up, so onto the SVR and overpay for a few months for me it seems.

Edit: Forgot to mention my LTV must be around 100%

uk2000

hi
im a exisiting customer with Abbey. My 2 year fixed rate deal ends in Dec 09. When would i be able to re-mortgage?? Also if i stay with Abbey when re-mortgaging will they come round to re-valuate the house?? or can everything be done over the phone??

I bought my house for £250k in 2007, and have a £210k interest mortgage left. i have extensivley redecorated my house to a high spec. What do u think my LTV will be? how do Abbey calculate this when re-mortgaging, do they send a surveyour round?

cleoangel

Hi we come off our 5.19% fixed in July, we called today and were offered a 2 year fixed at 4.19% with £125 fee. LTV is approx 60-65%. This seems in line with the offers above... If you take up this offer do they run new credit checks/ send out surveyors sols required etc etc... or as you are already with them and currently pay more per month with no problems will they just transfer - just not sure at the moment whether to go onto the SVR and wait and see and maybe take up an offer in Oct when our personal loan is finished or take up this offer now???

Amarillo

Joeskeppi wrote: »

Right, got through.

They could only offer me a 1 year fixed at 4.59%, which doesn't really interest me to be honest.

He said if I made a 10% capital repayment then I could get a better deal, but I only have about 7% saved up, so onto the SVR and overpay for a few months for me it seems.

Edit: Forgot to mention my LTV must be around 100%

Thank you for posting this Joeskeppi and sorry for not thanking you before, I went on holiday. Sorry you didn't get very far with them.

DH has just called and fared a little better. We were offered:

3 years 4.99% £399 fee
3 year 4.65% £499 fee
5 year 5.09% £499 fee
5 year 5.49% £399 fee
7 year 5.39% £125 fee

They didn't mention our LTV this time but they said 84% from the last time they estimated when we rang them back in March so will be higher now I guess. At that point they were only talking about a 1 year fix of something like 4.6% with a £700 fee so I think maybe they are relaxing their criteria, oh and they tried to get DH to take out a credit card whilst he was on the phone.

We wanted a longer term fix so are going for the 7 years at 5.39% which I am very happy with in the circumstances.

worried_jim

very intersting thread, my abbey deal finishes in nov 09 and have it at 7.24% at present so any difference will be a bonus. I too am looking at the long term fixes, I like the idea of stability and I have 63% ltv.

System

Amarillo wrote: »

At that point they were only talking about a 1 year fix of something like 4.6% with a £700 fee so I think maybe they are relaxing their criteria, oh and they tried to get DH to take out a credit card whilst he was on the phone.

Thanks for this, a friend of mine has experienced the exact same thing, was originally offered one year, phoned up a month later and got 3, might try again myself tonight.

System

Good news for me then.

I phoned again up tonight and was initially offered the one year again. This time I had to ask how much capital I'd need to pay off to get a longer fix and she went of to speak to marketing(!), and eventually came back with a 4.99 for 3 years if I paid 5%.

I've arranged to pay 6% and the fees up front, and move to repayment, sorted!