Ltr to ditch 5.89% fixed and remortgage from Britannia - anyone else?

Kemiera19

Hello All,

Had a letter yesterday from Britannia offering us to ditch our current 5.89% fixed mortgage (until July 2010) with them to take out a new 3-year mortgage with them.

No ERC, no arrangement fees - no catch? They say "Well there isn't one. We feel that it is only fair that you can benefit from the recent cuts in interest rates the same way new customers do"

Haven't rung them yet but assume it is for the the 3.89% as advertised on their website.

What do all you Mortgage guru's think - too good to be true?

allan673

if it is the 3.89% 3 year fix i would take the deal.

Scaredy_Cat_3

You need to find out what the rate on offer is. There is another thread on here (from a couple of weeks ago) where Britannia were offering selected customers a really good deal at something like 3.99% and other customers were trying to get it (ringing up Britannia and saying a friend had been offered it), but Britannia wouldn't budge. It's only available to those exclusive few who were offered it - so if you are one of those lucky ones you should probably grab it with both hands!

fluffymuffin

I got something similar although sadly not as good a rate but my ltv is quite low only like 11% so thats probably why - they've cut mine from 5.99% to 5.19% but I had to sign a new 5 year deal. Still its saving me £85 a month and its a good rate for what my ltv is so I'm doing it. There doesn't seem to be a catch other than it means they keep your business for longer as you're signing a new deal. I can live with that!

unite79

Just a word of caution, what rate does it revert to - is your current deal x over base - and the new SVR - .

makemesumdosh

i'm coming to end of fixed in july at 5.49% with them, can only get 3.99 fixed for 2 yrs or 4.34 for 3 yrs, should i book on off these now and if things change before july cancel deal and go elsewhere ?, they let you book 4 months in advance of your current deal finishing.