Experiences with TSB?

synavm

Planning on putting an application for our FTB mortgage direct with TSB this afternoon. I know they've had a few system issues lately, but their products look really good for us, affordability is good and our early experiences have been really positive - most importantly, their assessment process and criteria meets our needs really well after a few stressful weeks.

Does anyone have any experience with them either direct or through an intermediary (or as a broker even)? Good? Bad?

sal_III

Personally I don't get it, how people keep using them. After the massive debacle and complete disregard of their customers earlier this year. Their rates look good, but by no means exceptional (unless you are using some discount as their customer etc.)

bales83

Our experience has been poor tbh... Joined in April 2016 on 2 year fixed. Automatically transferred to variable in April 2018 as no fixed rate product available (which increased our monthly payments by £200). At last informed that there were products available 3 weeks ago (after repeated calls from us) but told that the only way we could access was to have a full 90 minute mortgage phone appointment. When the advisor called suggested that we scrap the appointment as we didn't want to change terms and that we would be able to apply online within a few days which would be much quicker. Now unable to register for online services as 'there's a problem with the system'. They can't tell me whether it will be hours / days / weeks / months until it will fixed...
All of our communication has involved us chasing them up, they have never proactively contacted us about any of this.... 5 months later we're still stuck on variable rate.
Due to our own financial circumstances we are kind of stuck with them, but the service has been so shocking would not recommend.

synavm

bales83 wrote: »

Our experience has been poor tbh... Joined in April 2016 on 2 year fixed. Automatically transferred to variable in April 2018 as no fixed rate product available (which increased our monthly payments by £200). At last informed that there were products available 3 weeks ago (after repeated calls from us) but told that the only way we could access was to have a full 90 minute mortgage phone appointment. When the advisor called suggested that we scrap the appointment as we didn't want to change terms and that we would be able to apply online within a few days which would be much quicker. Now unable to register for online services as 'there's a problem with the system'. They can't tell me whether it will be hours / days / weeks / months until it will fixed...
All of our communication has involved us chasing them up, they have never proactively contacted us about any of this.... 5 months later we're still stuck on variable rate.
Due to our own financial circumstances we are kind of stuck with them, but the service has been so shocking would not recommend.

That doesn't sound very good!

We don't really have any loyalty or ties to any lender, so I'd hope that in two years we'll have a good choice of lenders to switch to. Definitely wouldn't want to be stuck on SVR. Hope you find a solution!

Braintree

We got our MO from them earlier this month for a 5 yr fixed term but our circumstances were more adverse (due to payday loans I had taken out and then debts, which are now cleared) than most so they offered the best deal and didn't appear to do a hard search for us. I suspect we will change in 5 years but as an applicant for a mortgage they have been fine and very clear on their terms

synavm

Braintree wrote: »

We got our MO from them earlier this month for a 5 yr fixed term but our circumstances were more adverse (due to payday loans I had taken out and then debts, which are now cleared) than most so they offered the best deal and didn't appear to do a hard search for us. I suspect we will change in 5 years but as an applicant for a mortgage they have been fine and very clear on their terms

I'm glad it was straight forward for you. Do you know roughly how long it took for you to go from application to offer?

Braintree

synavm wrote: »

I'm glad it was straight forward for you. Do you know roughly how long it took for you to go from application to offer?

There was a delay on our part, due to the gifted deposit form of about 2-3 weeks, but the application was made on 29 June and we got the confirmation on 5 August after we finally got the Gifted Deposit form off on 30 July.

Richmc

sal_III wrote: »

Personally I don't get it, how people keep using them. After the massive debacle and complete disregard of their customers earlier this year. Their rates look good, but by no means exceptional (unless you are using some discount as their customer etc.)

TSB's IT problems were the fault of the company supplying the software (who also sell to Lloyds, funny that) not the bank it's self although they took it on the chin. I found I had very little trouble during the problems and their stance was honourable and fair, I'm still with TSB for my current account and would still recommend them to anyone. They have even compensated those who weren't even out of pocket, just inconvenienced for a couple of weeks.