Skipton Remortgage Fees

westv

The last time I checked a month or so ago they offered fee free 2 year fixed rates for remortgages. Now they all have a £995 "completion fee" (ouch!). When did it change? Do these charges also apply to present customers switching products?

ACG

Thursday 9th March.

I am pretty sure the products they have for new customers are the same as the ones for existing customers, but there is no harm in calling up and asking.

westv

Thanks. I think I'll wait and see if they are going to charge me a fee to stay a customer!

kingstreet

If you are an existing borrower, you need customer retention products, not for those remortgaging. They are new borrowers to the lender using a new mortgage to repay the old one.

I can see no products for existing borrowers not moving home here;-

http://www.skipton.co.uk/mortgages/mortgage-hub/switching-mortgage-products

Switching mortgage products

Our mortgage product switching process involves a personal telephone review with a Skipton Direct Mortgage Adviser, who will provide you with advice to get the mortgage that is right for you.

westv

I don't want, or need, a "personal telephone review" so I'll wait and see what they say when the contact me. They say 2 months prior to expiry.

csgohan4

westv wrote: »

I don't want, or need, a "personal telephone review" so I'll wait and see what they say when the contact me. They say 2 months prior to expiry.

you need to check the customer retention products online, log into your account a few months before your deal expires.

westv

westv wrote: »

I don't want, or need, a "personal telephone review" so I'll wait and see what they say when the contact me. They say 2 months prior to expiry.

csgohan4 wrote: »

you need to check the customer retention products online, log into your account a few months before your deal expires.

Well they have just sent a letter to me but all it says is to ring them for a 1 hour (!!) telephone review. What a waste of time!

csgohan4

westv wrote: »

Well they have just sent a letter to me but all it says is to ring them for a 1 hour (!!) telephone review. What a waste of time!

do you have an online account which shows retention products?

westv

csgohan4 wrote: »

do you have an online account which shows retention products?

I have online access but all it shows is my mortgage balance that's all. I guess I'll have to call/message them and tell them I don't want advice.

westv

I might also ask them to do a revaluation.
Skipton quote 0.68% increase based on the Halifax House Price Index. This is close to Nationwide at 0.40%. However, the Land Registry shows 15% increase which is probably due to their more local data. 15% increase seems closer to the sold price increases I have seen on Rightmove.

westv

I contacted Skipton. As per their website message they don't do non advised product transfers.
The person I spoke to said this was due to FCA rules but I said that other lenders allow non advised.
I did question the point of wasting an hour of each others time to discuss details that have remain unchanged since the mortgage was taken out.