Chelsea and YBS

anh1904

I have a Chelsea repayment mortgage on the SVR, which is currently much higher than the market average at 5.79%.
I have an examplary payment history, but as the house was purchased in 2007, the LTV is probably higher now, despite being repayment, than it ever has been since the depreciation in price will be more than the capital elements repaid.
Balance is about 150,000.
Has anyone had any success transferring their Chelsea mortgage over to the YBS product rates? or even has anyone heard that they have done this for any customers?

kingstreet

No. I can only suggest you contact them and ask them what product transfer options are open to you as an existing borrower.

We have had a number of other threads on here asking why there's no parity as Abbey SVR and A&L SVR are different, despite them being Santander now. The merger of different lenders does not automatically mean you can demand the lower of the two rates. Your original mortgage conditions still apply, unless you are informed of a change in writing.

Thrugelmir

You will need to make an application for a YBS mortgage product. There is is no "transfer" facility for a mortgage between seperate lenders. Even if they are part of the same group.