Angry at Halifax, no decent rate for existing customers!

Woby_Tide

Yes those poor banks, how do they survive?


That said though how can someone like the Nationwide still offer competitive rates that are similar or better to Halifax if they are non-profit making? I think you aren't really giving the banks credit for how devious they are

Froggitt

To avoid remortgage and arrangement fees every two years or so, Ive taken a five year fix.

Ian_W

Sorry Cruiseman don't buy that. My "deep throat" in that line of business says they're not nearly as profitable as charging an extra 1% or more for a retention rate cutomer or better still SVR to many others - but they are still profitable, particularly with booking, arrangement and release fees added to cover admin & marketing costs.

Nationwide are mutual and offer competitive rates to both existing and new customers, so do First Active, Direct Line etc who are PLC's or their offshoots. None of these are doing that to make a loss, they're doing it to retain customers they know are savvy enough to look for a better deal if they don't.

Pitty really cos I'd love to think of the poor dears losing money on my mortgage and when it ends me buggering off to some other large financial outfit and them making a loss from me for a few years. Make me feel a proper Robin Hood - almost make paying the mortgage a pleasure!!

stedwell

I walked away from the Halifax 2 years ago for the same reason. They were not interested in the least in keeping me as a customer. I am with C&G on 4.9% but this ends in November. Think I will look at Nationwide. Especially as I bank with them already.

budgetflyer

Well Im with Standard Life, every third year they offer me a 3 yr deal-NO HASSLE. No paperwork, no surveys, no lawyers. no fees. Just a phone call. I offset with them so with the discount and offset Im only paying 3% or less in reallity.

chubster

I too am unhappy with the Halifax, I think their attitude towards existing customers and their customer service stinks. I received a letter last week telling me that my payment was going up by £40 a month even though the interest rate has gone down! When I rang to query this the person said that it was because I withdrew over £3,000 last year. What?? I replied I didn't, after a few more questions they agreed to 'look into it'. I received a letter today telling me that a mistake had been made however they didn't apologise, provide any sort of explanation as to how it had happened. I would advise Halifax customers to check their mortgage statements carefully, I handn't checked mine properly. I am really unhappy about the way they have dealt with this and I am sure I will have paid extra interest on this but how on earth could I ever work it out? This is the lastest in a long line of problems with payments, incorrect debits etc. Needless to say I am looking for another mortgage provider right now!