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if I miss out on the end of my fixed rate deal...
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meadow408
Posts: 27 Forumite
Hoping someone might help out on this one as I’m not having much luck with Mr Google.
So the fixed deal on my mortgage is coming to an end on Oct 1st. Already in August with the help of a broker I look at switching to a new fixed deal. I provide all the requested documents to the new bank (payslips, P60, EA valuation letter etc) but, as since my house purchase I have moved job they ask me for a copy of my employment contract. I reply that I signed an NDA with the contract and I will have to see if my employer is willing to reverse it etc, they say no problem it’s ok even without it and they issue a new mortgage offer without asking further for it. All legal work is set in motion and it’s all ready for completion when the broker is told by the new bank today that actually they really want a copy of my contract. Unfortunately the senior manager who I can ask to reverse the NDA is now off on honeymoon for two weeks. This means that I’m gonna miss the deadline. I am a little cross that had I known earlier that it was a big deal I would have tried to solve things ahead of time but now it’s a little late.
So my question really is, if I miss the deadline to switch to a new fixed deal and I’m automatically moved to a standard variable rate deal can I apply again for a fixed rate deal at some point or not? Would I be able to pay a few months of standard variable rate payments whilst a new application is submitted and then move to a new fixed deal?
Thanks!
So the fixed deal on my mortgage is coming to an end on Oct 1st. Already in August with the help of a broker I look at switching to a new fixed deal. I provide all the requested documents to the new bank (payslips, P60, EA valuation letter etc) but, as since my house purchase I have moved job they ask me for a copy of my employment contract. I reply that I signed an NDA with the contract and I will have to see if my employer is willing to reverse it etc, they say no problem it’s ok even without it and they issue a new mortgage offer without asking further for it. All legal work is set in motion and it’s all ready for completion when the broker is told by the new bank today that actually they really want a copy of my contract. Unfortunately the senior manager who I can ask to reverse the NDA is now off on honeymoon for two weeks. This means that I’m gonna miss the deadline. I am a little cross that had I known earlier that it was a big deal I would have tried to solve things ahead of time but now it’s a little late.
So my question really is, if I miss the deadline to switch to a new fixed deal and I’m automatically moved to a standard variable rate deal can I apply again for a fixed rate deal at some point or not? Would I be able to pay a few months of standard variable rate payments whilst a new application is submitted and then move to a new fixed deal?
Thanks!
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