Britannia 3yr or 5yr fix?

cal1_2

My word!!!!!! I've just spent half an hour discussing in length with a (very nice) manager my 'friend's' offer:mad: All he kept saying was that "it was not commercially viable to offer this to all customers, just the commercially viable ones." I asked if he would perhaps explain this in layman's terms, what exactly did he mean by commercially viable?? and he couldn't offer me a reasonable explanation. He just kept saying it was a long a complicated calculation :rolleyes:.
I've told him that I am going to also go elsewhere. He said he wouldn't want me to do that. I told him to offer me the deal then!? He said he couldn't. I have been a loyal customer for 17 years and I think it is totally unfair. They made this offer to a certain number of clients, say 500. I said OK, if you offered it to 500 and only 450 took you up on your offer, could I take the place of one of the 50 people who didn't take you up on your offer? He said no!

Just off now to look at mortgage deals with companies who treat their customers fairly;). Britannia????? More like Sh'tannia
xx

Vertigo1

Can't say I blame you.

No offence to those who've been offered this deal, as it's obviously not their fault but the fact that Britannia are offering selected customers a "secret" deal at a far better rate than is available to the rest of us is bad enough. That they're offering these deals to customers who've been with Britannia for far less time than I have and who are still to complete their fixed rate terms is just insulting in the extreme.

(I'll repeat that I'm not having a personal pop at anyone who's received this offer - just jump at it as it's a no-brainer! )

cal1_2

I absolutely agree with you vertigo1. It is great for those that have been offered this deal and I don't begrudge them that one little bit. This is taken from their website:-


At Britannia we believe in treating our customers fairly. But we don’t just talk about fairness, we put it into action







I really do not think they are treating their customers fairly. Wonder if all us 'unsatisfied customers' could get together & put in a mass complaint? The press probably wouldn't be interested.................would they?????;)
Wonder if Martin can help??
regards,
c

RP72

alesanamurphy wrote: »

I can probably afford to overpay by about £100.

Is it better to do just that (in the knowledge I can cancel the overpayment if I need the money),or to increase my monthly payment by £100 and reduce a few years off the loan?

It will apparently cost £50 to reduce the term of the mortgage?

I'd stick with your term and just make the overpayments, it gives you far more flexibility. I just go into a branch once a month and pay them cash. You can also overpay by sending in a cheque or by bank transfer so you don't have the hassle of starting and stopping direct debits depending on how your finances are each month.

gitch01

i'm with brittania. i've been with them since 1996. i'm just coming to the end of my 5 year fixed and i rang them last month after deciding to take the 10 year fixed at 4.69% . i will have around £38500 left with 12 years to go. i've paid the £549 arrangement fee. not signed the paperwork yet as i've got until june to send it back.
i'm wondering whether to ring them now and ask what else they can do instead for me.

or should i just go with the above??????

alesanamurphy

I do sympathise with you all about not being offered this mortgage.

Makes me think I shouldn't have started the thread!

I certainly would like to know what 'commercially viable' means, especially when some of you have been with Britannia years.

How could they view you as NOT commercially viable?

It all sounds a bit random to me, and a bit of a politicians answer.

cal1_2

Hi alesanamurphy - don't worry about starting this thread:D It's fine!!;)
I'm honestly glad for you that you have got this great deal with no fee. I just think they should offer it to every customer as I said in my last post. "Welcome to a fairer society blah blah blah, its a load of rubbish!!" Don't feel bad that you have got a great deal:T - I feel angry with Sh*tannia not you hon:D
Gitch01-you won't get this deal, several of us have tried:mad:-I would stick with the one you have and overpay by £55.00 per month if you can, which takes it down to 10 years left to pay your mortgage:T
All the best to all of you
x

JonnyBravo

Don't be fooled by banks and building society guff about "fairness" etc.
I was with Nationwide for years and more than happy with the service but I too came up against a "computer says no" moment very similar to the one you talk about cal. Ultimately you're nothing to them but an equation etc so treat them the same. Go with what is best at the time.
I'm now with first direct and very happy but the moment they pull the same tricks (and its only a matter of time) I'll be off again.