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Appointment to "save money" on my fixed rate mortgage?

VixterW
VixterW Posts: 12 Forumite
Eighth Anniversary
in Mortgages & endowments
Hi everyone,


I'm hoping I've chosen the right place to post - apologies if not.


I just had a call from a chap from Natwest (my mortgage provider), who advised me that their rates are dropping and they want me to pop in to discuss how they can save me money on my mortgage. I pointed out that I'm on a fixed term for another 18 months, which he didn't seem to be aware of, but he said come in anyway as they can still save me money and other customers are up to £2000 per year better off.
This seems a bit odd to me as I wouldn't have thought Natwest would be interested in reducing the rates of their fixed deal customers. He didn't ask me for any details, so perhaps I should stop being so suspicious. . .but I am!
Anyone else had the same, or any ideas what the deal is? Am I being roped into a sales pitch?


Thanks in advance for any thoughts!


Vixter

Comments

  • kingstreet
    kingstreet Posts: 39,315 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    You'll pay the early repayment penalties on your current fix to step into a new one, which probably also has fees.

    If NatWest didn't use a rate swap from the money market to set the original fix, it will pocket the penalty payment.

    See if the switch works out cost-effective for you.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, 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. Please do not send PMs asking for one-to-one-advice, or representation.
  • Let_Us_See
    Let_Us_See Posts: 1,319 Forumite
    Bank staff are targeted for "reviews" and bums on seats. Whilst they may review your mortgage, they will undoubtedly use the opportunity to try and sell you other services such as B & C insurance, upgraded account etc etc.
  • amnblog
    amnblog Posts: 12,764 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    You are being 'roped into a sales pitch' - have fun!
    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.
  • brewerdave
    brewerdave Posts: 8,784 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    I had a similar message left on the answerphone yesterday -haven't had a mortgage at all since 2006 ! NatWest are obviously just doing a customer trawling exercise!!:rotfl:
  • amnblog
    amnblog Posts: 12,764 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    It's called customer service - all the Banks are expert at it.
    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.
  • somethingcorporate
    somethingcorporate Posts: 9,449 Forumite
    amnblog wrote: »
    It's called customer service - all the Banks are expert at it.

    Is it customer service? I think it's far more likely to be about selling them stuff!
    Thinking critically since 1996....
  • Wh05apk
    Wh05apk Posts: 2,938 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    somethingcorporate wrote: »
    Is it customer service? I think it's far more likely to be about selling them stuff!



    but the staff are not targeted on sales anymore......................
    I am a mortgage adviser.
    You should note that this site doesn't check my status as a Mortgage Adviser, 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.
This discussion has been closed.
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