Santander end of fixed term

Pont

Ronaldo_Mconaldo wrote: »

I'll have to check the literature to see if i'll have to pay £225 at the end of the term too, is this a fee to switch away from Sanatander or do you have to pay it automatically when the fixed deal finishes?

This is a fee to move from Santander to another provider.

Thrugelmir

CMV46 wrote: »

I have learnt a valuable lesson about being loyal to a bank. Clearly they have no concerns for the wellbeing of the customer. I naively thought that being a good customer, having savings and good payment history with regard to the credit cards and loans would stand me good stead but I was clearly wrong.

Loyalty wiith mortgage customers lasts as long as the interest rate is good. So don't expect a bank to be charity. They are a commercial business .

gardenlady_2

mrpsmith wrote: »

May I ask what your LTV is. We are in a very similar position to you and I was also offered 4.59% a couple of months ago. Out LTV is about 75%.

Hello! Our LTV is 60%- however it's interest only. It seems that Santander are rather inconsistent at the moment. we had been told by 2 brokers that they are indeed trying to get rid of a lot of it's mortgage business, that's why we were quite shocked when they offered us such a good deal. The woman we spoke to told us that we has got the deal because of having the 123 account, but it seems that other people on here have the account and are still getting turned down for a fixed rate.

Pont

gardenlady wrote: »

Hello! Our LTV is 60%- however it's interest only. It seems that Santander are rather inconsistent at the moment. we had been told by 2 brokers that they are indeed trying to get rid of a lot of it's mortgage business, that's why we were quite shocked when they offered us such a good deal. The woman we spoke to told us that we has got the deal because of having the 123 account, but it seems that other people on here have the account and are still getting turned down for a fixed rate.

Mine was also 60% LTV - but repayment. I have also got a 123 account. I was totally gobsmacked at how my mortgage account was dealt with.

I had the deal I was interested in right in front of me online when I was speaking to an advisor. I was told a rate that beared no resemblance to what I could see in front of me. I was told they 'didn't know my LTV' - I agreed that no they didn't, but would this rate apply if my LTV was what I suggested. Was told no 'not necessarily so'. I asked as to why Santander were advertising particular rates when they wouldn't go forward with enquiries as to if particular mortgages were available. Was told 'don't know'!

In the end I gave up the ghost - it was trying to communicate with a 3 year old!

I feel that I fell into the trap that they simply don't want the personal loan business. Well what goes around comes around IMO. Takes a 'brave' bank to make life awkward for punters who have a 100% credit rating, never defaulted etc etc.

Btw - now have a 3.39% 5 year fix which was better than the advertised Santander rate I saw originally - maybe I should thank Santander for being such w*$kers :-)

happycamel_2

Santander need to reduce their loan book and raising their current accounts to sort their capital ratios. Hence awful mortgage rates to encourage you to ditch them and high value current accounts eg 123 a/c.

I'm ditching them for the HSBC 1.99% but it's costing a fortune in fees. It's worth it though.

Pont

happycamel wrote: »

Santander need to reduce their loan book and raising their current accounts to sort their capital ratios. Hence awful mortgage rates to encourage you to ditch them and high value current accounts eg 123 a/c.

I'm ditching them for the HSBC 1.99% but it's costing a fortune in fees. It's worth it though.

What bugs me about Santander most of all is that I never signed up them them in the first place! My current account was with A & L, and my mortgage with with the Abbey. Both have subsequently been swallowed up by the mighty Santander and, as you've quite righty suggested, they don't want the business of us mere mortals.

As stated previously, have moved my mortgage :-) and next to go will be my current account :-) :-) .... but where??!!

Thrugelmir

Pont wrote: »

As stated previously, have moved my mortgage :-) and next to go will be my current account :-) :-) .... but where??!!

To a lender who might offer you your next mortgage. As this may well be the next market move. As lenders continue to tighten down.

Until 2000, lenders funded mortgages entirely from retail deposits. The link was then broken. Appears that regulation of the banks is now taking us back in time.

Pont

Thrugelmir wrote: »

To a lender who might offer you your next mortgage. As this may well be the next market move. As lenders continue to tighten down.

Until 2000, lenders funded mortgages entirely from retail deposits. The link was then broken. Appears that regulation of the banks is now taking us back in time.

Think we're 'singing from the same hymn sheet' albeit I've moved my mortgage (all OK) first, can see me moving my current account to the same provider very soon.

There is, however, a part of me that thinks I don't want all of my 'eggs in the same basket' so to speak. It's becoming increasingly difficult to follow this path.

Thrugelmir

Pont wrote: »

Think we're 'singing from the same hymn sheet' albeit I've moved my mortgage (all OK) first, can see me moving my current account to the same provider very soon.

There is, however, a part of me that thinks I don't want all of my 'eggs in the same basket' so to speak. It's becoming increasingly difficult to follow this path.

The biggest impact will be on those looking for their first mortgage. As evidence of ability to save regularly. Will be an indication as to someones ability to manage their personal finances.

Pont

Thrugelmir wrote: »

The biggest impact will be on those looking for their first mortgage. As evidence of ability to save regularly. Will be an indication as to someones ability to manage their personal finances.

I see so many of my friends who 'panic buyed' at the height of the market, no savings, no deposits, interest only (relying on an upward market), huge credit card bills etc etc., now in a pickle. Whilst I agree first time buyers are going to struggle, there are many who are going to find they can't remortgage due to lack of equity, depleted incomes, no ability to save - don't know the answer, but it isn't looking good.

I'm just glad I didn't have the means to panic buy - there but for the ....... go I.