Santander won't offer me a Fixed Rate (got letter today increasing SVR)

Fruball

I got a letter today saying my SVR was increasing to 4.74%.

I called them just now and they won't offer me any fixed rate deals at all.

When I asked why, they just said that it could be any number of reasons.

Anybody else got this problem or know why? I've not had a problem in the past.

Many thanks in advance.

(I have an interested only mortgage of around £60k - house value is around £180k)

Simon_gloster

Its the interest only element. You wll need to prove an acceptable pay plan or go onto repayment otherwise they wont help.

You'll have the same int only questions, if not harder, if you look to change lenders.

keithnic_2

I also called them this afternoon and was offered 2 and 3 yr fixed rate. I also have interest only around 75% LTV. Rates were 4.79% and 4.89% so I will be moving mortgages pretty soon.

Simon_gloster

Unless you have unrealistic repayment vehicles keith you wont be able to remortgage onto interest only. Abbey is 50% LTV for int only so even you may struggle.

Fruball

I am already with Santander.

I called again and they said it is nothing to do with interest only, thank goodness.

Turns out there is a huge mistake on my credit file, ie ALL my CCs are duplicated!!! So it looks like I owe twice as much as I do! All sorted with them now so should show clear as of tomorrow.

Also, !!!!!! ex was still linked to me. He is financially incompetent of levels I didn't think were possible, so I have removed him from my credit file via a disassociation form online.

Just got to wait for them to update the records and they said there shouldn't be a problem.

Hope they are right!

Yorkie1

Good detective work!

Fruball

My rating has gone from Fair to Good by getting them to fix this mistake - I have filled in the disassociation form to get the ex taken off and then I suspect it will jump up even higher as I have nothing on there which is negative, except for using 50% of my available credit.

Once the ex is taken off, I will contact Santander again to see what they can offer me

Moral of the story - Check Experian etc because they DO make mistakes and this messes up your credit score