Mortgage Reduction Beginner to Novice - The Show Begins

edinburgher

Your current rate sounds great to me MRN (we're FTBs, so currently on 5% :eek: ) That said, you have a much better LTV than we do...

I have also rediscovered the joy of homemade soup - amazing how chopping up all the foosty vegetable from the fridge/cupboards + a few stock cubes and herbs tastes amazing when blended We had peppers and parsnip soup last night, went down very well with some sour cream and croutons.

Radish72

I looked at the Tesco 1.99% and swear words left my mouth

Why didn't they have this offer 3 months ago when I wanted a mortgage then I woudn't have had to deal with HSBC

Might look into it some more as we are now own 57% of our house and do some sums

Mortgage_Reduction_Novice

I wonder why mortgages don't work like mobile phone contracts or satellite TV... y'know phone them up, threaten to leave and get offered a better rate!!!

Tilly_MFW_in_6_YRS

LOL, how cool would that be :T

Tilly x

misscousinitt

Mortgage_Reduction_Novice wrote: »

I wonder why mortgages don't work like mobile phone contracts or satellite TV... y'know phone them up, threaten to leave and get offered a better rate!!!

:rotfl:wish it was like that

Radish72

Mortgage_Reduction_Novice wrote: »

I wonder why mortgages don't work like mobile phone contracts or satellite TV... y'know phone them up, threaten to leave and get offered a better rate!!!

Has anyone ever tried it?

edinburgher

Has anyone ever tried it?

If you were remortgaging and quoted a headline figure from another bank, I'm sure that your current provider would at least try to better their offer?

Hopefully not romantic idealism on my part, but as our mortgage offer states 'for each £1 you borrow, you will repay £1.65'. Surely it's well worth their while keeping someone on the hook for a debt that might take 20+ years to discharge?

Secret_Saving_Squirrel

That is outrageous, £1.65 for every £1.... They are loan sharks. But then between 1986 and 2003 I was paying £500 approx each month interest only. That is about £100,000 I think? No calculator to hand! All for nothing, except that the house increased in value by about £200,000 in that time. But if we had a repayment mortgage, we would have saved about £50,000.

We all make mistakes......

edinburgher

All for nothing, except that the house increased in value by about £200,000 in that time

I can't see that happening for us :rotfl:

Peonie

Radish72 wrote: »

Has anyone ever tried it?

I tried it. I asked if they could match the rate of another bank. But the response was 'Were you not happy with the service I provided?'
To be fair they were a good bank as I could have taken the overpayments out at any time but could get a deal where I paid £20 less in interest each month. So that's the one we went with.