Can you cancel a rate switch?

needhouseadvice
needhouseadvice Posts: 110 Forumite
in Mortgages & endowments
Currently with Barclays. Have requested a rate switch but now thinking I might change from a fixed to a tracker as I might sell. Got the offer letter yesterday. The new rate is effective from the beginning of July. Anyone know if it's too late to cancel? Their mortgage department is already closed today.

Comments

  • sammyjammy
    sammyjammy Posts: 7,368 Forumite
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    What does the offer letter say? You do know that if you move onto a tracker you'll still be locked into a time period? Its unlikely that any other way than staying on the standard variable rate (or BBR in Barclays case) will see you tied in.
    "You've been reading SOS when it's just your clock reading 5:05 "
  • amnblog
    amnblog Posts: 12,432 Forumite
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    Be quick and they will move you to the Tracker instead.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, 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.
  • needhouseadvice
    needhouseadvice Posts: 110 Forumite
    sammyjammy wrote: »
    What does the offer letter say? You do know that if you move onto a tracker you'll still be locked into a time period? Its unlikely that any other way than staying on the standard variable rate (or BBR in Barclays case) will see you tied in.

    It says 'You are not bound by the terms of this offer document until the new interest rate has been applied to your mortgage' - I'm guessing that means the beginning of July?
  • amnblog
    amnblog Posts: 12,432 Forumite
    First Anniversary Name Dropper Photogenic First Post
    As I say above. Don’t delay.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, 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.
  • jennhg88
    jennhg88 Posts: 253 Forumite
    First Anniversary First Post
    Phone them asap and ask?
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