Interest rates - good or bad time to fix?

truescot

getmore4less wrote: »

If my memory is not fooling me that sounds like one of the A&L mortgages that Santander took over,

could have change ages ago.

I'm trying not to think too much about this:o. Thing is, when your existing rate compares pretty favourably with published rates, dit's your first and only ever mortgage, and your mortgage adviser brother-in-law tells you to stick, you tend to stick.


Never mind, spilt milk and all that...

getmore4less

truescot wrote: »

I'm trying not to think too much about this:o. Thing is, when your existing rate compares pretty favourably with published rates, dit's your first and only ever mortgage, and your mortgage adviser brother-in-law tells you to stick, you tend to stick.


Never mind, spilt milk and all that...

Work out how much you have lost and invoice the BIL in his Xmas card.

truescot

getmore4less wrote: »

could have change ages ago.

Is that really the case? If there was the opportunity to change ages ago, what would have been the point of making the mortgages two separate products in the first place? When I extended the loan, why didn't they just put the extra amount on the same rate? Or would this have become a possibility when Santander took over A+L? :eek:



Is there a specific time period when lenders became more inclined to do this. Like, say, today!!



(Although obviously I'm trying not to think about it:rotfl:)

Thrugelmir

truescot wrote: »

Is there a specific time period when lenders became more inclined to do this. Like, say, today!!

As a closed mortgage book. Santander will wish to run it down as quickly as is possible. As the years pass the number of live mortgages will reduce dramatically. There'll be an administration burden they will become disportionate.

truescot

Thrugelmir wrote: »

As a closed mortgage book. Santander will wish to run it down as quickly as is possible. As the years pass the number of live mortgages will reduce dramatically. There'll be an administration burden they will become disportionate.

I don't think I really even understand what this means, but thanks anyway :rotfl:

getmore4less

truescot wrote: »

Is that really the case? If there was the opportunity to change ages ago, what would have been the point of making the mortgages two separate products in the first place? When I extended the loan, why didn't they just put the extra amount on the same rate? Or would this have become a possibility when Santander took over A+L? :eek:


Is there a specific time period when lenders became more inclined to do this. Like, say, today!!


(Although obviously I'm trying not to think about it:rotfl:)

Have a search this has come up a few times on here where people have done the switch of their sub accounts to their low rates.
Here is one from 2014
https://forums.moneysavingexpert.com/discussion/4981445/alliance-leicester-to-santander&highlight=alliance

Might even be worth a discussion on why this was not offered before and a refund

truescot

getmore4less wrote: »

Might even be worth a discussion on why this was not offered before and a refund

I doubt this would work as they were not obliged to actively switch me surely,?
Do you know of anyone who has had success with this sort of claim? What would be the best way to go about trying?

getmore4less

search the boards there are more that fell into the trap of doing nothing and subsequently got the deal see if any of those got it backdated.

I seem to recall someone might have done but that might have been another lender.

whats that saying we drum into the kids "don't ask don't get"

you are already over 4 years overpaying by 1.24% because though you could not change what you had


Sack your mortgage advisor their market knowledge is falling short of the mark.