Skipton Mortgage Product Switch

westv

Are there any other lenders that refuse to offer current customers a non advised transfer to a new rate at the end of a fixed rate.
Just wondered.
I did a quick search out of curiousity but didn't find one.

Thrugelmir

Totally at the discretion of the lender. Different rules may well apply internally to old legacy mortgage books .

westv

But are there any other mainstream lenders that have no "non advised switch" option? I'm not talking about old legacy mortgages.

westv

Well I've got round to booking my telephone yawnfest....ermmm... I mean telephone review.
If I was being cynical I'd suggest their recommendation of also having retirement plans, insurance details and employee benefits ( death in service etc) available was just an excuse for them to try a bit of cross selling but we'll see.

westv

All sorted. Took about 45 minutes.

It did feel at times that I was a child being guided by a parent. Trying to justify my choices was also slightly annoying.
It's also a pity that Skipton prefer to hide their products for current customers which means that you can't be certain as to what is available until the actual phone call - they do a 3 year fix for example which isn't mentioned anywhere. Even then they only mention rates within the range they think "suit" you. Maybe they would list more if asked but why should you have to?

Hopefully when my fix next runs out they will have got rid of this nannying nonsense.

kingstreet

The 'advice' process is expected to work from you providing information on your needs and preferences and them providing potential solutions based on those needs.

That basically avoids them giving you half a dozen illustrations and saying 'pick one' which is what they used to do pre-MMR when they weren't giving 'advice'.

westv

Well I did feel like telling them where they could stick their "advice" but I doubt that would have helped me in my product switch. :D

100% advised product switches can't be that popular with mainstream lenders as a quick search couldn't find any others that run such a system.