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  • FIRST POST
    • Major_Disaster
    • By Major_Disaster 7th Mar 18, 11:20 PM
    • 24Posts
    • 0Thanks
    Major_Disaster
    Any experience of Sainsbury's Mortgages?
    • #1
    • 7th Mar 18, 11:20 PM
    Any experience of Sainsbury's Mortgages? 7th Mar 18 at 11:20 PM
    Hi all,

    Trying to sort out a new fix for our mortgage, which is coming to an end in July. Sounds like rates are most likely going to be hiked in May, so looking to lock in a fix before then - so we're a bit limited to places whose offer validity is 6 months (standard seems to be 3).

    Currently with First Direct and really happy with the customer service and we can book the rate now - so the simple answer would be to remortgage with them. Phoned up L&C to see if there are any other options and they came back with Sainsbury's. Looking at the numbers they're a reasonable amount cheaper, but I'm a little hesitant as their customer service is a little of an unknown to me.

    All Google searches lead to very poor reviews of their personal loans, but I can't find much specific to mortgages - they've only reentered the market in the past year.

    So, any experience / advice would be much appreciated.

    Cheers
Page 1
    • ACG
    • By ACG 8th Mar 18, 8:02 AM
    • 16,849 Posts
    • 8,791 Thanks
    ACG
    • #2
    • 8th Mar 18, 8:02 AM
    • #2
    • 8th Mar 18, 8:02 AM
    I noticed quite a few rate rises around 2-3 weeks ago.

    I would be interested in hearing feedback in Sainsburys mortgages, we do not have access to them yet but I am sure at some point we will.
    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.
    • getmore4less
    • By getmore4less 8th Mar 18, 8:37 AM
    • 32,052 Posts
    • 19,227 Thanks
    getmore4less
    • #3
    • 8th Mar 18, 8:37 AM
    • #3
    • 8th Mar 18, 8:37 AM
    A quick look some rate/fees are better with FD
    Depends on LTV,fix term, mortgage size.

    FD has better penalty free overpayment terms.
    • Major_Disaster
    • By Major_Disaster 8th Mar 18, 8:51 AM
    • 24 Posts
    • 0 Thanks
    Major_Disaster
    • #4
    • 8th Mar 18, 8:51 AM
    • #4
    • 8th Mar 18, 8:51 AM
    For our LTV on a 2 year fix FD are definitely more expensive (higher rate, lower fees) but does have unlimited over payment and known (first hand) good customer service. Again for us, Sainsbury's has a lower rate, higher fee (which you can add to the balance unlike with FD) and only 10% over payment allowance. It's just the customer service which is the big unknown and is stopping me taking the plunge...
    • getmore4less
    • By getmore4less 8th Mar 18, 10:27 AM
    • 32,052 Posts
    • 19,227 Thanks
    getmore4less
    • #5
    • 8th Mar 18, 10:27 AM
    • #5
    • 8th Mar 18, 10:27 AM
    Don't forget the costs to change in the calculations.
    • Major_Disaster
    • By Major_Disaster 8th Mar 18, 11:13 AM
    • 24 Posts
    • 0 Thanks
    Major_Disaster
    • #6
    • 8th Mar 18, 11:13 AM
    • #6
    • 8th Mar 18, 11:13 AM
    Yes, with the help of the MSE Mortgage calculator I'm pretty confident Sainbury's is just over 600 cheaper over 2 years. Its just the customer service aspect I'd like some help with. Anyone have any experience with them?
    • Amst
    • By Amst 11th Mar 18, 6:01 PM
    • 96 Posts
    • 71 Thanks
    Amst
    • #7
    • 11th Mar 18, 6:01 PM
    • #7
    • 11th Mar 18, 6:01 PM
    What customer service do you need from a mortgage provider? As long as you pay each month they can be excellent or awful and you'll never know.
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