Abbey Mortgage Offer - Existing customer

System

steve237 wrote: »

I wanted to lock into a fixed rate for 7 years. Worried about inflation and the state of the UK borrowing!

Enjoy your peace of mind

sproutmonkey

I think what they offer must depend on the size of your mortgage as well. I was offered 3 year 4.99% and 5 year 5.49% for a transfer fee only and signed up for a 5 year fixed at 5.49%. Paperwork didn't arrive. Tried getting through to let them know but would either just be on hold for sometimes an hour or the line would just cut off after a while. When I finally got through today I was told the offer was no longer available and I'd have to pay 5% off the capital to get the same offer. I'm devastated. Our mortgage is very large and I'm not sure we'll be able to do this but even if we sign up for this deal today, I worry that the same thing could happen again.

steve237

sproutmonkey wrote: »

I think what they offer must depend on the size of your mortgage as well. I was offered 3 year 4.99% and 5 year 5.49% for a transfer fee only and signed up for a 5 year fixed at 5.49%. Paperwork didn't arrive. Tried getting through to let them know but would either just be on hold for sometimes an hour or the line would just cut off after a while. When I finally got through today I was told the offer was no longer available and I'd have to pay 5% off the capital to get the same offer. I'm devastated. Our mortgage is very large and I'm not sure we'll be able to do this but even if we sign up for this deal today, I worry that the same thing could happen again.

That is harsh. Have you asked them if they have recorded your previous conversation where they agreed to this rate and informed you papers would be sent out? Have they any record of sending out the papers?

I wonder if I called up today and requested the 7-year deal at 5.39%, it would still be available. I bet they've pulled it or increased it on my particular LTV. I am glad I have the paperwork here ready to sign within 14 days. If I were you I would kick up a bit of a fuss. It's their mistake, not yours.

sproutmonkey

I asked if they could please get the call records. They wouldn't/couldn't, but for what reason they could not make clear to me. They couldn't find anything on the system. I told them that I could give them the details of who I talked to and when as soon as I got home but they said it didn't make any difference as these were the only deals now on offer to me. I wish I had the confidence to stay on the SVR and hopefully change provider at some stage as this undermines my confidence in Abbey.

mrsjanejane

When I called Abbey last week they told me that they type in your mortgage account number and this decides the rate that they give you. It takes in to consideration - deposit, late/missed payments, length of time you have been with them. She said that I was near the top and I asked how can I get to the top as I have a 60% deposit, never paid late, been with them 7 years. She could not really answer as she goes by what the system produces in terms of the rate based on my account number. She said it could change daily. 3yr fixed = 4.09 and 5 year 4.49%

MagsyB

sproutmonkey wrote: »

I think what they offer must depend on the size of your mortgage as well. I was offered 3 year 4.99% and 5 year 5.49% for a transfer fee only and signed up for a 5 year fixed at 5.49%. Paperwork didn't arrive. Tried getting through to let them know but would either just be on hold for sometimes an hour or the line would just cut off after a while. When I finally got through today I was told the offer was no longer available and I'd have to pay 5% off the capital to get the same offer. I'm devastated. Our mortgage is very large and I'm not sure we'll be able to do this but even if we sign up for this deal today, I worry that the same thing could happen again.

I've had the same problem with missing paperwork so can sympathise.
Our mortgage two year fixed rate expires Sept 09 and we were sent a letter offering for us to fix before 09.06.09 and they would waive the redemption fee.

LTV about 25% remaining repayment due to end in 5 years in Sept (2014). We were offered 4.29% for 3 years with no fees. Asked for the paperwork to be sent out as both me and OH would need to sign it. It also gave me chance to speak to London and Country who agreed it was a good deal.

Waited a week and no paperwork so rang them. The offer had by this time expired and they wouldn't send out replacement documents. Spoke to a manager ('who would only say the samething' and did!) - they do not take any responsibility for royal mail and I had a choice either pay the redemption figure or wait til September apparently my fault for asking for paperwork and not agreeing over the phone on the day.

I've sent a complaint but I'm not holding my breath. :mad:

MagsyB

An update on Abbey's missing mail
Our mortgage offer has been re-issued and sent out today
Maybe complaints do work!

wackojackouk

Rang Abbey today (been away) and was looking at getting the 4.29% for 3 years.

Been told it's now 4.99% :eek:. Was originally told that they couldn't hold them rates which was fair enought but today guy told me they can hold rates for 14 days and he is sending me a quote for a 2 year @ 4.39% and that they could have done this before for me. I wasn't aware and no-one offered.

Not happy. If I knew this a week or so ago I would have requested the Quote :mad: - I guess there's nothing I can do?

sproutmonkey

Well done MagsyB! I hope they turn up.

Wackojackouk, it does seem as though each person you speak to has a different information.

Nothing we can do? I wonder how difficult it is to set up a lending institution? Might be worth us all clubbing together and starting one.

gooday

Our fixed deal with the Abbey comes to an end next month our LTV is 63%.

I phoned 2 weeks ago and was told I could have the following:

2year @3.89 £200
3year @4.09 £799
5year @4.59 £599
7year @5.39 £200

I was very tempted by the 5year, so I called back today and they can now offer me the following

2 year @4.29 £200
3 year @4.89 £200
4 year @5.79 £200

So they have put up rates but bewtween 0.4% and 1.2% and they cant even offer me a 5year deal!

Think ill be looking elsewhere

Anyone else had a better offer from the Abbey lately

thanks