We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
YBS uncompetitive for existing mortgage customers
Options
Comments
-
But their rates are so cheap KS!
How can the borrower resist?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 -
kingstreet wrote: »... and I hereby rest my case on why none of my clients will ever end up stuck on 5.79% SVR with Accord.
YBS Group can't be trusted to have decent customer retention products.
The "mortgage prisoner" who can't go elsewhere could end up paying nearly 2% over the odds each year for a short-term advantage of perhaps 0.1% or 0.2% at the outset.
which poses the question; who can be trusted to have decent customer retention products?
I'd like to not have to keep moving lender/prove income/jump through hoops every 2 years or so.
I've noticed HSBC tend to have been consistently competitive over the last few years. Anyone else worth considering?0 -
Nationwide also offer better rates to existing customers than they do to new customers0
-
honeststeveo wrote: »which poses the question; who can be trusted to have decent customer retention products?
I'd like to not have to keep moving lender/prove income/jump through hoops every 2 years or so.
I've noticed HSBC tend to have been consistently competitive over the last few years. Anyone else worth considering?
Nationwide seem pretty reasonable. Part of the reason i wient with them.£1000 Emergency fund No90 £1000/1000
LBM 28/1/15 total debt - [STRIKE]£23,410[/STRIKE] 24/3/16 total debt - £7,298
!0 -
honeststeveo wrote: »Granted though their arguably intentional method of obfuscating the poor deals for loyal customers means that they are not really declaring their hand up front when you first consider being their customer.
The availability of cheap funding is as a result of the Governments Funding Lending Scheme. Only a temporary measure. Nor enough to provide cheap products for all existing customers. Headline grabbing rates are all very well but the actual number of mortgages granted is small in the overall scheme of things.0 -
kingstreet wrote: »... and I hereby rest my case on why none of my clients will ever end up stuck on 5.79% SVR with Accord.
YBS Group can't be trusted to have decent customer retention products.
Building Societies don't have the same access to banks for sources of funding. In time the situation will normalise as the money injected through intervention is withdrawn. Interesting to see that Building Societies increased new lending in 2014 while Banks reduced their's compared to 2013. With low margins on mortgages banks are looking elsewhere to lend their money. Santander are targeting the SME business sector at the expense of consumer lending.0 -
Nationwide Building Society can run with an SVR of 3.99% and offer decent retention products to its existing borrowers, including those of Portman, Cheshire and Derbyshire.
Yorkshire Building Society is running with a 4.99% SVR, higher for other group members like Chelsea and Accord and no decent retention products. However, it can offer competetive products to new borrowers.
However it is funded, it is making its business decisions in such a way I choose not to give it any kind of power over my clients.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.0 -
Deliberately resurrecting an old thread. Until a month or so ago Chelsea had a pdf on their site listing the mortgages available to existing customers. That has now disappeared. Instead is an online form.
Does anyone know if the existing customer renewal offers are still poor, or if they allow access to those listed for new customers?
I have a remortgage coming up and won't get their letter until 90 days in advance of my fixed rate ending.0 -
deleted redundant0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.9K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 243.9K Work, Benefits & Business
- 598.8K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards