Self Cert

ForkHandles_2

Hi,

Thank you everyone for your views, I'll give HBOS a call in November and see how it goes, hopefully if they will switch me onto another deal I'll save legal fees and valuation. I'm interested in TMW though, who are they?

Cheers

ForkHandles

toonfish

ForkHandles wrote: »

Hi,

Thank you everyone for your views, I'll give HBOS a call in November and see how it goes, hopefully if they will switch me onto another deal I'll save legal fees and valuation. I'm interested in TMW though, who are they?

Cheers

ForkHandles

the mortgage works - they are part of the Portman group (soon to be Nationwide)

regularsaver1

Hi Fork

If in November all you need to do is change your mortgage product, then the income is not discussed (if staying with HBOS) as you are not borrowing anymore - just changing your interest rate

Is this what you mean?

ForkHandles_2

Hi RS1,

Pretty much, I don't want to go onto the standard variable rate, I'm looking for a lower rate without having to declare my earnings. Do you think that if I call Bank of Scotland a couple of months before I'm switched onto the variable rate they'll do me another deal without all the paperwork?

Rick62

Yes, I'm sure they will. Bank of Scotland I generally find very good and they are one of the most competitive in the self cert market.

regularsaver1

Hi Fork - I know this is thew case with Halifax, but unsure with Bank of Scotland

They may do things differently

Rick thinks it will be ok though

ForkHandles_2

Hi,

Thank you everyone for your posts!! I'll Give them a call in November, I was unsure if BOS were very competitive so it's good to hear from someone 'in the know'. At the time I moved in it wasn't the best fixed rate around but I guess that's the 'price you pay' for self cert.

Cheers!!

FH

RedTomato

When I had a discounted mortgage with the Abbey and my discounted rate was coming to an end I phoned them and said I was thinking of moving to another provider (which was a bluff as I had recently become self-employed and was earning less) and they instantly offered me a new discounted product on the phone. They didn't ask to re-check any of my personal info.
So hopefully you'll be OK. Who knows if the mortgage lenders here will start getting stricter soon though as some 50 mortgage companies have gone bust in the States in the past few months so you might want to get things sorted sooner rather than later.

ForkHandles_2

Hi
Thanks, I guess it's going to be far cheaper for them to retain me as a customer than gain a new one. I remember Alliance and Leicester did something similar a few years ago. I'm keeping my fingers crossed until November.

FH

luckyfool

Halifax and BM Solutions from the HBOS group currently do product transfers at the end of the deal period and allow brokers to give access to those deals. My understanding is that Bank of Scotland do not offer this yet, however it is expected to be rolled out later this year. Hopefully this will be in time for you Forkhandles as I know prior to rolling out their product transfer offerings Halifax and BMSolutions were not particularly competitive when offering existing clients new rates.