Advice please - Transfering mortgage with Chelsea Building Society

montyb41

Hi,
Sorry if this is long, newbie!!
Couple of things, first is probably just a rant, but we're also after a bit of advice.

Ok, we've just sold our house, our current mortgage is with The Chelsea Building Society, they used to be quite a good set up, advisors at central office were always available to help with new products, now they are part of Yorkshire Building Society their way of working has been changed!!
Now to get even just general mortgage advise we have had to telephone our "local" branch (we live in Derby, nearest branch Leicester) & arrange to have a “15 minute telephone appointment” with the branch mortgage advisor, that took 10 days to happen. Advice given ok & she told us when we've found somewhere to buy, call back, ask for advisor & we can set up changes.
Within 10 days we have now found a house, so we call the advisor, advisor says "brilliant, ok we need to arrange a time to go through the products & arrange the mortgage change, call tomorrow &we'll arrnage it." we call back the next day "sorry the advisor is booked up for the next two weeks, we've arranged for the advisor at the Brighton branch to call you & to go through everything with you."
This advisor is giving different answers to the Leicester one. What a crazy set up!! It feels like they don't want our business.
Rant over!

The issue we'd like some advice on:
Our current 2 yr fixed deal ends 31 August 2011 (£1800 penalties)
The initial advice we were given from Leicester advisor was:
Yes we can port the current deal & take out a new deal for the additional amount we need to borrow
She also suggested:
We could set up a new deal on existing amount before we moved (as this wouldn’t take long) then take out another new deal for the additional amount.
If the completion date was close to the product end date they could/might just put it all on one new deal & waive the penalties.

It looks like we're aiming for a completion a week or 2 before the current deal expires, the Brighton advisor (who has spoken to a 'manager'!) is now saying different:
We can only port the existing deal to the new house & set up new product for the additional amount;
ONLY after we have completed can we look at arranging a new product for the existing amount. - The existing will have to be on SVR for a short period.
And NO they will not lump existing/new together & waive the penalties.

My thoughts are stuff the Chelsea, hold off completion until 1/09/2011 & go find a better deal with another lender; our LTV is 45% so we're in good position. My only concern is jeopardizing the sale & purchase, buyer wants to complete sooner, though we could exchange earlier.

Any suggestions? - should we be able to we get Chelsea to see sense, any possible problems with going elsewhere at this stage?

Again sorry if this is long & thanks
montyB

newgirly

Sorry, i can't help but am also having problems with chelsea, I have just spoken to head office to complain at the 2 week possible wait to speak to an advisor to find out how much we can borrow if we move. Every other provider seems to have an online calculator to give a rough estimate.
We have been with them for over a couple of years and I can't beleive how quickly service has gone downhill. How to they expect to get new customers if they are never available.

montyb41

I think it shows what happens when one company gets taken over by another & cuts the staff numbers!! guess they don't want the business. As i wasn't happy with what the Brighton Advisor had said, i tried to speak to the Leceister one, shes not returned my calls!

Yesterday I popped into my local Natwest, arrange an appointment to see a mortgage advisor, got an appointment for this morning...45 minutes later the mortgage is sorted...2.99% fixed for 2yrs £495 fee.

bye, bye Chelsea, you had your chance & blew it!!!

newgirly, they have got an online calculator its in the 'mortgage guides & tools' section.

cheers

newgirly

Thanks, have used the calculator and they only will lend 2.5 x wages , so no good to us, we currently owe them £48K more than will lend us through their calculator. Will wait until our fix is finished and then go elsewhere! Congrats on your mortgage deal, sounds like a much better service.