g e money invitation to move mortgage

dean19_66

two weeks ago i received a letter from gemoney telling me that they have to inform me of mortgages with other companies which might benefit me. i ignorred the letter as i am only tied in to my 3 yr fixed rate until february and that if i finish early i will have to pay approx. £6000 in early penalties. yesterday i received another letter, it mentioned that i had not responded to the last letter and that they had people who could sort out a mortgage with companies such as abbey and that they could waive my redemption penalties.they obviously want me to go {ive not missed any payments} but i dont know why. ive heard of some mortgage companies paying you to leave. my mortgage balance is only £90000 so how would they benefit.

Antispam

Got the same letter no rush to move as I pay less now then when fixed was going

I only got one letter ignored it too, have never defaulted a mortgage in nearly 20 years with 2 providers

They want to get rid of people on there books Abbey took them over earlier this year

Some providers are paying customers to leave

dean19_66

thanks again but do you know what my new rate would be from feb. i think it is approx. 2% above barclays or can they change it

sammyjammy

Dean what rate are you paying on your fix now?

If your key facts say 2% above the base rate then thats what it has to be otherwise they are breaking the terms of your mortgage.

getmore4less

I would start getting them to make an offer,

work out what the rate will be and get them to find a better rate, reduced debt, no penalties and no fees.

The keener they are to get rid the better the deal will be.

Antispam

Mine was 1.9% above barclays base rate so its 2.4% at present compared with 4.6% I had with a fixed mortgage