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Simple switch not possible?
JenniMc
Posts: 72 Forumite
I've just been on the phone to Halifax as a fixed rate on my mortgage is coming to an end. I looked up the available rates and phoned up expecting a simple switch only to be told that if I don't do it online then I need to go through a full review and I couldn't do it myself as my husband needs to be present for the call or we both need to go into branch to get it done there.
We only moved here 6 months ago and the rate I want switched is the one we moved to the new house with us. I can't even do it online as I'm getting an error message which the advisor thinks the system can't recognise that we only want to switch one sub account as the other already has the tied in rate that we took out on the new mortgage so it gives me an error message as the system assumes there would be an early repayment charge and won't allow me to change just one part. So it's a system issue really but the advisor says that the reality is that they can't make the website work to suit everyone so I have no choice but to do full review as I can't do it online.
Not only that but he told me my loan to value is in the higher bracket than I think it should be as their system predicts our house has lost value since last August when it was valued. So I asked if we could pay for a valuation to be done as we believe it wouldn't have dropped so much and he told me that they don't arrange revaluations at the customer's request unless there's been a major change to the home like an extension.
It seems a waste of their time and mine! All I want is the 4 year fix that I've already seen online! I don't want nor need an advised service. Does this seem accurate in line with the new changes? The guy I spoke to sounded like he may be fairly new.
We only moved here 6 months ago and the rate I want switched is the one we moved to the new house with us. I can't even do it online as I'm getting an error message which the advisor thinks the system can't recognise that we only want to switch one sub account as the other already has the tied in rate that we took out on the new mortgage so it gives me an error message as the system assumes there would be an early repayment charge and won't allow me to change just one part. So it's a system issue really but the advisor says that the reality is that they can't make the website work to suit everyone so I have no choice but to do full review as I can't do it online.
Not only that but he told me my loan to value is in the higher bracket than I think it should be as their system predicts our house has lost value since last August when it was valued. So I asked if we could pay for a valuation to be done as we believe it wouldn't have dropped so much and he told me that they don't arrange revaluations at the customer's request unless there's been a major change to the home like an extension.
It seems a waste of their time and mine! All I want is the 4 year fix that I've already seen online! I don't want nor need an advised service. Does this seem accurate in line with the new changes? The guy I spoke to sounded like he may be fairly new.
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Comments
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Thank the Financial Conduct Authority.
A decent mortgage broker should be able to do this for you without all this aggravation.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Thank you, it does just seem like a simple request is unnecessarily complicated. I don't doubt that it's a pain in the bum for those working in the sector too.0
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