Fixed Rate Ending - new product with same lender?

Steffi747

My 2 year fixed rate with The Leeds Building Society is due to end on 30th November 2014.

If I take a new fixed rate with Leeds BS, will they carry out the new MMR checks?

Can someone please tell me the process Leeds BS will carry out on a new product; is it classed as a new application with credit and affordability checks?

Many Thanks

Bloomfield53

Can't answer your question, but I'm in the same situation with the Halifax and it's worrying me sick. I've gone for it and applied for a product transfer and they sent the docs. I've just returned the declaration and am waiting for the news. I am not borrowing anymore or changing the term. I've had the mortgage for 10 years. Never missed a payment, on mortgage or any of my loans or credit cards. Perfect payment history. 54% LTV..but......I have a fair bit of unsecured debt at the moment. The new deal is £50 a month less than I am paying now.. But still worried. I am a worrier though.

pcgtron

I've just done the same thing with the Halifax, 72% LTV, only had the mortgage with them 2 years, and it sailed through. No checks, no nothing.
Easy peasy. With a good LTV and no missed payments I'd stop worrying

newbie5001

Just finally done the same with the YBS. Had to have a chat but we got through that in about 25 mins. I think they have a cut down version for these circumstances.The only issue was me been difficult in the 1st place and i feel a lot happier now. 61% LTV met eligibility criteria.

Dan:_4

Just taken a new product with Nationwide. All done online via internet banking - no credit checks or anything. result!

Yorkie1

If you are not changing the amount you borrow or the term left, then you may not have a MMR review - particularly if you can do the product transfer online. Some lenders treat the product transfer as triggering MMR, others don't.

michelle2008

Dan: wrote: »

Just taken a new product with Nationwide. All done online via internet banking - no credit checks or anything. result!

Can I ask how they determined your ltv? I am thinking about switching to a fixed rate online with nationwide but it's been five years since they valued my house and I have no idea what deal I can get?

Thanks

Bloomfield53

Confirmation of new deal with Halifax arrived today in the form of the offer. My LTV was based on Halifax's determined value. Last valuation was quite some time ago. Just market value I presume.