Is it worth calling your mortgage provider to explore alternative deals?

Hi everyone. I appreciate that I may be asking a silly question but, if I don't ask, I don't know! 🙂

I am with santander and my deal ends early June. L&C are exploring alternative deals out there at the moment and santander have proposed various products via my online acct. Now for the silly question: Is it possible that they may offer a better rate, or zero out product fees, if I were to call and ask - or is this just wishful thinking? Has this ever happened?

LTV is around 40%

Thanks all. Your thoughts really are appreciated.

Comments

  • diystarter7
    diystarter7 Posts: 5,202 Forumite
    1,000 Posts First Anniversary Name Dropper
    Hi

    Worth giving them a call and then its luck of the draw whom you speak to

    Tell them you areseeing better deals, have a few names in mind

    if you have kept payments up to date and have a substantial loan, I'm sure they will give you a dosocunt,

    Thnaks
  • Edi81
    Edi81 Posts: 1,496 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Whatever Santander are offering in your online account is all they will offer. 

    Mortgages are not a bespoke product especially with high street lenders. 

    They will not give you a discount!
  • housebuyer143
    housebuyer143 Posts: 4,164 Forumite
    1,000 Posts Third Anniversary Name Dropper
    edited 13 March 2023 at 8:26AM
    As above, the staff have no power to offer you a bespoke deal. You can only have what is on the online account and shown in their product guide. 
  • Nailer99
    Nailer99 Posts: 145 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Not quite the same, but I did find that over the phone Platform were willing to value our property at a higher price than their online systems enabling us to (successfully) apply for a better LTV deal. 
  • dunstonh
    dunstonh Posts: 119,237 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    edited 13 March 2023 at 11:13AM
    Now for the silly question: Is it possible that they may offer a better rate, or zero out product fees, if I were to call and ask - or is this just wishful thinking? Has this ever happened?
    Your broker will consider the Santander deals and will present the best one as an option.   There are no better deals for product transfers if you were to phone them up.

    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • ACG
    ACG Posts: 24,418 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    Lenders offer products. 
    Those products are the same for everyone in the same category. For example under 60% LTV will be the same for everyone under 60% LTV.

    You cant negotiate a better deal, its basically a case of here is what we are offering, take it or dont. 

    Lenders have to treat all customers equally. So I would probably just see what the broker comes up with and take it or go elsewhere. 
    I am a Mortgage Adviser
    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.
  • jm475 said:
    Hi everyone. I appreciate that I may be asking a silly question but, if I don't ask, I don't know! 🙂

    I am with santander and my deal ends early June. L&C are exploring alternative deals out there at the moment and santander have proposed various products via my online acct. Now for the silly question: Is it possible that they may offer a better rate, or zero out product fees, if I were to call and ask - or is this just wishful thinking? Has this ever happened?

    LTV is around 40%

    Thanks all. Your thoughts really are appreciated.
    Unfortunately no, what you see online is what you will get. I've tried this myself.
    The best thing to do is get a Mortgage Broker to find you a better deal.
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