Are mortgages negotiable?

atom2

Hi folks, I am new to the forum, but have been an avid user of the site for several years. I am about to remortgage for the first time having only had my home for the past few years.

My question is: Is it possible to negotiate for better rates than those advertised with banks and building societies?

Thanks in advance.

Thrugelmir

Do you negotiate in Tesco's at the till?

amnblog

That's a no Atom.

atom2

Thrugelmir wrote: »

Do you negotiate in Tesco's at the till?

No, but I negotiate for many other services.

The question I asked is if mortgages are negotiable. I was looking for someone with knowledge on this to answer. My luck I got you.

atom2

amnblog wrote: »

That's a no Atom.

Short and sweet. Thanks amn.

gazter

atom2 wrote: »

Short and sweet. Thanks amn.

HSBC most certainly did enter into negotiations over their rates...

happylucky

It's a fair question, outside the UK (with big international banks that also operate in the UK) it happens, for sure, as I've done it myself.

Landofwood

Yes it's possible, I managed to get a lower than advertised rate from Bank of Ireland by threatening to leave a few years back.

Mortgage_Mark_2

In certain circumstances yes, almost certainly direct-only, and almost exclusively for existing customers.

Very, very unlikely if you're approaching a bank for the first time.

EDIT: For direct enquiries, you can often negotiate a better fee rather than rate.