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£300 saving with one phone call
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swinstan
Posts: 125 Forumite
Forgive me if this is stating the obvious but I'm quite new here - and I couldn't find this advice with a search.
I noticed that my lender (Woolwich) was offering a slightly lower rate (-.02%)than the one I negotiated less than a year ago when our discount ended. I phoned and they have changed us to the lower rate with no hassle whatsoever. This saves us £25 pm - £300 pa. I hadn't expected them to change rates so quickly. I'll keep an eye on it in future.
Now I know how good it feels to save a considerable amount of money with little effort, I'll be looking for other opportunities.
I noticed that my lender (Woolwich) was offering a slightly lower rate (-.02%)than the one I negotiated less than a year ago when our discount ended. I phoned and they have changed us to the lower rate with no hassle whatsoever. This saves us £25 pm - £300 pa. I hadn't expected them to change rates so quickly. I'll keep an eye on it in future.
Now I know how good it feels to save a considerable amount of money with little effort, I'll be looking for other opportunities.
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Comments
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any broker worth their salt will ask obtain or ask you to obtain info on existing lender's deals..., to allow them to be comapred against the market its something that most advisers here suggest ( and in Martin's Article) , although I suppose the online / no advice sites ( some as mentioned in remortgage articles) won't be able to do this obvious task.Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.0
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Hi, I'm guessing that's a typo and you mean a rate reduction of 0.2% not 0.02%? (i.e 4.71% reduced to 4.69%)
If it's the latter you would need a mortgage around £1.5m to make a saving £300p/a with an interest rate reduction of 0.02% not £150k ish.I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
P.S Couldn't agree more with payless you should always personally check what's available to you via your existing lender first before trying to make any comparison...I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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Mortgage Genie
Whats the point in adding a disclaimer to your comments on the site then pointing someone in the direction of your "regulatory details" i.e your website if you only do information only sales? I feel like you are borderline on actually trying to promote your business on MSE by putting that in your signature.I am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
sorry for hi- jacking this thread but can i ask a question of the moderators of this site.
Is it felt appropriate that a posters name- with links to it's business of the same name is felt appropriate to be used.
Can i quote the rule " posting for personal gain is not permitted"?
if i am being over the top, i am quite happy to be told!
SSI am a fee charging WoM Mortgage broker.I now no longer give information and opinion within the Mortgage boards, because a number of posters who, having approached me professionally, agreed my fee-which has been been made very clear at the outset, taken my advice (normally cancelling a [home visit] meeting at short notice) have then approached one of the fee-free brokers on here to arrange the very same deal I have advised.Whilst I totally concur with the ethos of "money saving"- abusing the goodwill of a professional who provides a quality service is taking it too far! :mad:0 -
Sorry MM,
It would appear our posts have crossed!
SSI am a fee charging WoM Mortgage broker.I now no longer give information and opinion within the Mortgage boards, because a number of posters who, having approached me professionally, agreed my fee-which has been been made very clear at the outset, taken my advice (normally cancelling a [home visit] meeting at short notice) have then approached one of the fee-free brokers on here to arrange the very same deal I have advised.Whilst I totally concur with the ethos of "money saving"- abusing the goodwill of a professional who provides a quality service is taking it too far! :mad:0 -
My sentiments Exactly David. I think it would be appropriate to remove the site link from profile as well.I am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Stop crossing me monkey!I am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
well that would be down to the moderators but i wouldn't me sad to see it go!
crazy- hence my reduced apperances recently- see you are now an ever so regular! :beer:
SSI am a fee charging WoM Mortgage broker.I now no longer give information and opinion within the Mortgage boards, because a number of posters who, having approached me professionally, agreed my fee-which has been been made very clear at the outset, taken my advice (normally cancelling a [home visit] meeting at short notice) have then approached one of the fee-free brokers on here to arrange the very same deal I have advised.Whilst I totally concur with the ethos of "money saving"- abusing the goodwill of a professional who provides a quality service is taking it too far! :mad:0 -
You have obviously had a lot on you D.I am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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