can this be done - any IFA's??

Conrad

You don't have an viable options I'm afraid horsey.
You say they are scumbags but this is because you are only ssing things from a narrow self interested view.

The product you bought was based on market conditions, predictions and proftiability considerations. If we had the sort of ad - hoc mortgages that would be needed to meet your new aims today, the market would be chaos as lenders could not accurately forecast anything, contracts would be worthless and so on. The whole system would not work and rates would have to nrise.
We enjoy an incredibly ordered society by having rules and certainty built in. If uncertainty was built in you would basically have a dysfunctional market. Also you would have to allow for limitless possible permutations of what people might want to do 3 years down the road which would lead to contracts being thousands of pages long, it just wouldn't work.

The_White_Horse

the answer should be that banks should come up with a fluid product that puts their best customers (ie those who have never defaulted for say, at least 5 years and earn over a certain limit) on their best deals all the time. The customer should never need worry. They should always be on the banks best deal.

IFA's - sort it out!

BoGoF

The_White_Horse wrote: »

the answer should be that banks should come up with a fluid product that puts their best customers (ie those who have never defaulted for say, at least 5 years and earn over a certain limit) on their best deals all the time. The customer should never need worry. They should always be on the banks best deal.

IFA's - sort it out!

You're a funny guy/gal.......

Thrugelmir

The_White_Horse wrote: »

have you ever known a first charge lender to offer a better deal to someone on a fix? the only benefit for them would be I am a great customer (large mortgage, always paid on time), and I might leave at the end of the deal if they don't.

Your overestimating your worth as a customer. You've done nothing other fulfill a contractual arrangement.

The_White_Horse

Thrugelmir wrote: »

Your overestimating your worth as a customer. You've done nothing other fulfill a contractual arrangement.

well what do they want from me? a cake?

as customers go, i am a great one to have.

The_White_Horse

its all about blue sky thinking

GMS

If interest rates had gone to 7% and your lender wrote to you to say they now needed to increase your mortgage to 8% in order to give their shareholders the best of the market conditions would you agree and give up your fixed rate of 3.4%?

This is what you are expecting the banks to do.

As has been said there is no easy way out of it.

getmore4less

The_White_Horse wrote: »

the answer should be that banks should come up with a fluid product that puts their best customers (ie those who have never defaulted for say, at least 5 years and earn over a certain limit) on their best deals all the time. The customer should never need worry. They should always be on the banks best deal.

IFA's - sort it out!

thay have been available for ages

Lifetime trackers with no tie ins.

The snag with your requirement is that when rates go up you would be moaning that the best rate is higher than the one you had yesterday.

My base + 0.95% is no longer available and I would not be happy going onto my lenders best current rate.

The other issue with you proposal is the salary, loose that and then they put you rate up because you no longer qualify.


Only a naive fool would have believed the talk a year ago that rates were going up any time soon:(

Bottom line is you made the wrong choice.

Do you have the LTV and salaty multiple to get one of the 1.99% deals?

SandC

If full flexibility was required by everyone the banks could indeed do it - but there would be no lifetime fee free trackers available that's for sure!

All lenders would simply have all their mortgages at base rate + x% end of story. No ifs, no buts, no deals no fixes. Take it or leave it. But they sure as hell would be higher than you are on now.

Best thing to do is just remember that at the time you took the deal (your choice) you considered it a good one and it fitted in with your plans nicely. You may get a cracking deal somewhere after your fix is up or you may not.