New customer only deals!

emv

Hi

Just contcated my bank about remortgaging. I have an offset mortgage with current account, 2 ISAs & 3 savings account. So could switch everything to a new provider but have a limited choice. I had received lots of quotes for different products from my mortgage provider (Intelligent Finance) but was told today that the best deal (base rate +.34% for life of mortgage) is only for new customers. The best deal for me was either standard rate -0.75% (standard rate is currently 6.65%) or a stepped rate of base rate +0.5% until June 2009, base rate +0.4% until June 2011 and then base rate +0.34% for the rest of the term.

I've only really included the detail for info because my question is - do I stand a chance of negotiating to get onto the new-customer-only deal? Is it worth doing this?

Any advice gratefully received!

Emmavix

Mr_helpful

id have a go Some time ago the rep from the halifax got me a first time buuer mortgage for a homeowner so its worth the try

HypnoTease

I'd tell them that it is not acceptable that you do not qualify for the deal they are marketing for first time buyers, and that if they valued your custom and wanted to keep it they would ensure you had equally competitive deal. There are other lenders with facilities like Intelligent Financial, Woolwich for example.

wardlaw

Hi Emv

Many lenders act like this, I am afraid they show no loyalty to existing borrowers while trying to attract new ones by offering better rates

If I were youn I would put this scenario to them and if they wont budge, simply tell them that you will place your busines else where Source another lender who provides a better rate together with Free Legals and Valuation