Mortgage ends in Nov 2022, is it worth negotiating your bank account as well?

magabicool

I've been with my bank for the +10 years  and lived in my house with one mortgage, until we asked for more money for an extension project, resulting in a 2nd mortgage with the bank.  Fast forward a few years and the family and I decided to move, the timing did not work out as if I wanted to move my mortgages, my exit fees was £6k +. I decided to stay with them and get both mortgages to complete at the end of this year, allowing me to combine them into one mortgage, with any provider, without exit fees. 

The question I have is that is worth leveraging to a provider the moving of my bank account and earnings to them for a better rate? Does anyone have experience on the best way to go about this. 

Thanks in advance!

ACG

No, it makes no odds. Occasionally in the past some lenders would give you a slightly (and it was only slightly) better deal if you moved your bank to them but I dont think any lenders do that currently. 

[Deleted User]

Mostly a thing of the past.  The regulator wasnt a big fan of the packaged selling culture it created.   'If you want a better mortgage you better take a bank account, a credit card, and move all your insurances to us'

dimbo61

As with many things in life it's worth shopping around.
Now you could of course DIY or you could speak to a whole of market mortgage broker and ask him/her to search the market and find a suitable lender for your circumstances.
You might be able to sign up to a new deal 3/6 months in advance

getmore4less

Barclays still have preference mortgage products.

Even if you qualify on income(lots) they are limited so most don't benefit from the tiny benefit.

penners324

In essence, no. Get the best mortgage product for you and the best bank account for you, likely to be with different providers.

Unless you're looking at £50 million....