Abbey Mortgage Deal Opinion

MACDONALDO67

I know there are a few experts on here so I would be obliged if you could give me an honest opinion please?

A few months ago I had a problem with Abbey because the house prices dropped thus knocking out the LTV on my property for a new deal.

Well today I still don't have a sufficient LTV but Abbey have offered me 1,2,3,5 year deals.

The 1 year deal is 4.59% with a £799 charge.

The 2 yer deal is 4.99% with a £200 charge.

The 3 year deal is 4.99% with a £200 charge which can be added to the mortgage and

The 5 year deal is 5.49% with a £200 charge which can be added to the mortgage

I have 20 years left to pay.

I have been torn between the Devil and the deep blue sea but I have decided to go for the 5 year deal. Primarily becase the interest rates will eventually rise and there all most definately be a change of Government next year so I expect changes.

Would value others opinions on this because I have 14 days to change my mind and there might be something I have not thought of. Being locked in for 5 years did put me off a little but then again I know what I will be paying for 5 years. I was dithering on a 3 year deal.

Thoughts, advice duly welcome and thank you.

O what I would give for a crystal ball.....:rolleyes:

MACDONALDO67

Well nothing bad has come back so I take it the deal is not too bad then?

pedders09

Just to re-iterate what I said in the other thread, Abbeys rates do seem to be very competitive for all types of applicant scenarios. I'm thinking that due to the fact they are one of the banks that have been less impacted by the credit crunch than others, then they are able to be a bit more flexible with their fixed rate deals.

The only downside to going with Abbey seems to be below par customer service and delays getting the application completed. BUT maybe they are just snowed under due to the volume of trade. I know in the current climate the number of mortgages is quite low compared to normal years but Abbey might be understaffed !! :rolleyes:

simon_templar_2

Their computer systems do not work, riddled with bugs even after 2.5 years. Their proceedures do not work and nobody their bothers to see things through. They do not have a clue who does what or when. Talk to one dept you get one story talk to another and they do not know what is happening. Avoid at all costs if you value your life and sanity.

emmahane

lol, bit late for that