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Getting the best mortgage deal
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JackeeBoy
Posts: 229 Forumite
Hi all
Going to remortgage next year and was wondering whether banks negotiate over rates to a significant extent. I have not go any issues with my credit rating at all but my LTV is going to be no better than 75%. Rates do change significantly if the LTV is 70% or better, especially when looking at 5 year deals which is what I will probably get.
If a get an AIP and then take that to another bank/lender, what do you reckon the chance will be of them giving me their best advertise rate? Especially if I have not hit the LTV.
Going to remortgage next year and was wondering whether banks negotiate over rates to a significant extent. I have not go any issues with my credit rating at all but my LTV is going to be no better than 75%. Rates do change significantly if the LTV is 70% or better, especially when looking at 5 year deals which is what I will probably get.
If a get an AIP and then take that to another bank/lender, what do you reckon the chance will be of them giving me their best advertise rate? Especially if I have not hit the LTV.
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Comments
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No, Banks do not ‘neogiate’.
Banks would have a hard time explaining to the Regulator why Borrower A is being charged more then Borrower B for purely arbitrary reasons.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0 -
They would not negotiate to any extent.I am a Mortgage AdviserYou 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.0
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i wish we could haggle like we do for our sky renewals"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0
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