URGENT! Will BM offer better deal?

MattOsprey

Hi all,
I am remortgaging a £236000 mortgage. I am changing from repayment to interest only. I would like to stay with Birmingham Midshires, but can get a better deal with nationwide (who I don't like). The monthly saving is around £100 with NW. Is there any chance that BM would offer a better deal? Is there anything I could say to help my case? Sorry for the "Urgent" but BM are ringing back tonight, and I would like as much info as possible.
Thanks.
Matt

Fairdo_2

I doubt very much that BM would give you a better deal than they have available at the moment, as like most lenders they effectively "shrink-wrap" their products and you have to take them or leave them.

From my understanding of the difference between BM and Nationwide, the products would be slightly better with Nationwide. Mainly because BM are fantastic at dealing within niche markets, but do not generally have the keenest of open market rates for the mainstream.

There could be other options available to you aswell that could be even better for you than the Nationwide.

Froggitt

Depends what kind of deal youre on - I like the First Active Base Rate tracker at base plus nothing for 2,3 or 5 years. Or the Yorkshire Offset at about 4.65%. Or Portman (I think) doing a 5 year fix at 4.45%.

BM are part of Halifax who are notoriously inflexible in their customer retention practices.

Fairdo_2

You said it was urgent, that BM were in touch with you last night. How did it go?

MattOsprey

I asked would they match Halifax, as they are the same company. She said no. I said I will look around then, she said she would ring back in a week. I am still hoping that there might be some movement by then.

bernardh_2

Did BM ever come back to you? They hinted to me that I might be offered a tracker at 5.49% (lifetime bbr+0.99%) but nothing confirmed yet.