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Mortgage company welcome gifts?

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  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    I received a personalised set of terms and conditions, some home and motor insurance cross-sell leaflets and a warning that my home was at risk if I did not keep up repayments.
  • Murphybear
    Murphybear Posts: 7,287 Forumite
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    Never had any presents from a lender or EA. We bought a bungalow a few years ago and there was a pack of plants ready to go into the garden plus a clock which I’d admired.

    We were never sure if they had been left for us as a present or accidentally left
  • deuxchatsnoirs
    deuxchatsnoirs Posts: 19 Forumite
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    We had a hamper from Tesco bank with Tesco branded stuff - but it was appreciated! Jar of coffee, some cookies. cleaning products, hand wash, teabags, binbags, washing up liquid, carton of milk...all actually came in very useful.

    Was a nice touch!
  • need_an_answer
    need_an_answer Posts: 2,812 Forumite
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    I suppose the question is ...would you be more likely to apply for a mortgage where there was a gift offered by the provider?

    Personally I would rather go with the lowest interest rate and best terms than get a welcome box.
    in S 38 T 2 F 50
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  • always_sunny
    always_sunny Posts: 8,314 Forumite
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    kingstreet wrote: »
    These are in addition to any cashback you may receive as part of your mortgage product which is carefully costed with the rate, fees and ERC.

    There isn't really anything in addition, even the cashback is calculated... do I care that lender dispatch me a meaningless box? No, I'd rather have low rates and good T&C, there're plenty of shops and Amazon delivers everywhere, I can shop :)
    EU expat working in London
  • Gwendo40
    Gwendo40 Posts: 349 Forumite
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    always_sunny wrote: »
    what are these 'gift'?
    My mortgage company credited me £1k cashback, I like that gift... not sure I would care for wine or other useless stuff! Money is nice :)


    Yes is money is nice, your bank also likes money, that why they magicked some out of thin air, lent it to and got you to pay them tens of thousands of pounds interest for it.:rotfl:
  • julicorn
    julicorn Posts: 2,283 Forumite
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    We got a little gift box from Accord, that was a nice touch. It had some tea glasses, tea, biscuits and chocolate in it if I remember right.
    Also, we got the best rate we could at the time, £600 or so cashback, and have had great customer service so far (plus a very good retention rate), so I'm not particularly worried that receiving a little present meant we had to miss out on any of those other benefits. ;)
    Original mortgage: December 2017, £203,495
    MFW start: April 2018, £201,800
    Mortgage neutral: September 2022, mortgage redeemed: December 2022
    New house, new mortgage: December 2022, £276,007
    Current balance: £217,800 minus £8,300 overpayment savings pot
  • ceh209
    ceh209 Posts: 876 Forumite
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    Cls22 wrote: »
    Anyone else had anything from Coventry BS?

    We're with Coventry - didn't get a box when we moved last year.
    Excuse any mis-spelt replies, there's probably a cat sat on the keyboard
  • kingstreet
    kingstreet Posts: 38,784 Forumite
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    always_sunny wrote: »
    There isn't really anything in addition, even the cashback is calculated... do I care that lender dispatch me a meaningless box? No, I'd rather have low rates and good T&C, there're plenty of shops and Amazon delivers everywhere, I can shop :)
    Quite.

    That was the point I was making. You lost on the rate swings to win on the cashback roundabouts. For some mortgages sizes, you will end up the overall winner.

    These post-completion "gifts" are an irrelevance, I agree; but someone asked about them...
    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.
  • Slithery
    Slithery Posts: 6,046 Forumite
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    A similar thread from a year or so ago...

    https://forums.moneysavingexpert.com/showthread.php?t=5749379
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