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continuing my fixed rate
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violet2905
Posts: 3 Newbie
My fixed rate comes to an end this Sept 2018 and I've just left my job to travel on and off. my mortgage broker has said this is ok as he will be able to get the bank to just roll over my existing mortgage with them on a new fixed rate without wage slips but it will just be a higher rate than i had before. can i approach the bank myself about this? get a better deal?
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Comments
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Maybe, maybe not.
Some lenders dual-price, wanting the best of both worlds; brokers to introduce business to them then better retention products than brokers can access to cut them out later.
BTW they typically pay less than 0.2% for the advice and regulatory liability we take for the retention product.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
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