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Mortgage with far away Building society
Comments
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As others have already stated it's not a problem.
We live down south and our Mortgage, Current & Savings accounts are all up north with www.if.comORIGINAL MORTGAGE AMOUNT £106,454.00 (Started Sept 2007)
NOV 2021 O/S AMOUNT £1,694.41 OUR DEBT REDUCED BY £104,759.59 by std regular, over-payments & off-setting.
BofE +0.19% Tracker Repayment Offset Mortgage Discounted Sept 07-10 then increased to BofE +0.62% until 20270 -
@hillcats
How will you be affected by the sale of Intelligent Finance to the Co-op ?
The SVR of the Co-op is much more than IF.
J_B.0 -
Our Offset Mortgage using Current Account And Savings is a contract which may be taken over / transferred I'm sure but I would suggest no effect on us at all... unless we wanted to alter anything... of which we don't, and I doubt we will ever change from our existing mortgage anyhow I think this rate will see us out to completion - that's the plan anyway...ORIGINAL MORTGAGE AMOUNT £106,454.00 (Started Sept 2007)
NOV 2021 O/S AMOUNT £1,694.41 OUR DEBT REDUCED BY £104,759.59 by std regular, over-payments & off-setting.
BofE +0.19% Tracker Repayment Offset Mortgage Discounted Sept 07-10 then increased to BofE +0.62% until 20270 -
dan_cup,
i've previously been with the Principality BS and the Skipton BS (neither of which are local to me) and had no issues with either. I even made capital repayments over the phone which went very smoothly.
Go with the best rate/deal that is good for you. I'm sure that you won't be staying on anybody's SVR for long...
...and then the window licker said to me...0 -
See my signature, you may notice we are not on a SVR but we are actually tied quite nicely to the bank of England interest rate +0.62 % for the remainder of our mortgage. We have kept our payments at the initial default payment since rates dropped and it has removed a huge chunk of our debt , if and when interest rates rise we will not have to find any NEW money for quite some time as our overpayments mean we are currently paying at 6.37% instead of the current minimum of 1.12%.
When rates are back to normal again we shall then just re-juggle our finances to cover the additional funds needed to meet the minimum payment required, but I don't think it will be for a while though...ORIGINAL MORTGAGE AMOUNT £106,454.00 (Started Sept 2007)
NOV 2021 O/S AMOUNT £1,694.41 OUR DEBT REDUCED BY £104,759.59 by std regular, over-payments & off-setting.
BofE +0.19% Tracker Repayment Offset Mortgage Discounted Sept 07-10 then increased to BofE +0.62% until 20270
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