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Mortgage Lenders - existing customer deals

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    Mortgage Lenders - existing customer deals

    Our fixed rate mortage comes to an end on the 3rd September with Abbey. Luckily the new fixed rate deals are not much more than we are currently paying so there isn't too much of a rise.

    But Abbey want to add a fee for the fixed rate mortgage. Yet if I was a new customer to them then they would waive the fee. In fact there are better deals around anyway from what I can see.

    What I don't understand is that I've been with Abbey for about 10 years, never missed a payment, and yet they don't seem to give a tulip about holding onto existing customers. It just sounds really short sighted.

    By the way, anyone recommend a good FA?

    #2
    Originally posted by oxtailsoup
    Our fixed rate mortage comes to an end on the 3rd September with Abbey. Luckily the new fixed rate deals are not much more than we are currently paying so there isn't too much of a rise.

    But Abbey want to add a fee for the fixed rate mortgage. Yet if I was a new customer to them then they would waive the fee. In fact there are better deals around anyway from what I can see.

    What I don't understand is that I've been with Abbey for about 10 years, never missed a payment, and yet they don't seem to give a tulip about holding onto existing customers. It just sounds really short sighted.

    By the way, anyone recommend a good FA?

    Most of the mortgages companies do that, the Halifax is worse, it offers existing customers who need to remortg massively worse rates than new customers. Shop around and tell Abbey to **** off only way unfortantly. I cant see the logic behind loosing customers but they seemed to want to do so there must be.

    Comment


      #3
      Originally posted by oxtailsoup
      Our fixed rate mortage comes to an end on the 3rd September with Abbey. Luckily the new fixed rate deals are not much more than we are currently paying so there isn't too much of a rise.

      But Abbey want to add a fee for the fixed rate mortgage. Yet if I was a new customer to them then they would waive the fee. In fact there are better deals around anyway from what I can see.

      What I don't understand is that I've been with Abbey for about 10 years, never missed a payment, and yet they don't seem to give a tulip about holding onto existing customers. It just sounds really short sighted.

      By the way, anyone recommend a good FA?
      try www.contractormoney.co.uk they were great for me a couple of times and understand your trading/financial situation which is more than most of the usual FA spivs!
      --------------------------------------------------------------------------------

      SA - Is it like a dragons nostril?

      Comment


        #4
        Thanks Kramer... filled out their form a few minutes a go.

        Comment


          #5
          In this 21st century world of information at your fingertips, and comparison websites and financial magazines, do switched on people like contractors really need so called "financial advisers", who on the whole, are merely driven by commission on products sold, rather than best value, and are just more middle men to take a cut of your hard earned?

          No wonder you guys are all tied to spivy agents for your next gig.

          Comment


            #6
            I believe that in some cases FA's can get better deals than those publically on offer. Will just have to see.

            Plus the comparison web sites are not necessarily geared towards contractors finances etc.

            Comment


              #7
              Originally posted by DimPrawn
              In this 21st century world of information at your fingertips, and comparison websites and financial magazines, do switched on people like contractors really need so called "financial advisers", who on the whole, are merely driven by commission on products sold, rather than best value, and are just more middle men to take a cut of your hard earned?

              No wonder you guys are all tied to spivy agents for your next gig.
              In priciple that's quite right. But one thing with mortgages is that sometimes IFAs do get access to cheaper money, so it's probably best to hit the comparisons to find the most appropriate benchmark and then try a couple of FA's to see if they can do better.

              Comment


                #8
                Originally posted by DimPrawn
                In this 21st century world of information at your fingertips, and comparison websites and financial magazines, do switched on people like contractors really need so called "financial advisers", who on the whole, are merely driven by commission on products sold, rather than best value, and are just more middle men to take a cut of your hard earned?
                No.

                I think people use FAs because they wear a suit and are capable of speaking in an authoritive voice that makes them sound knowledgable.

                Why contractors fall for this is anyones guess. Don't most contractors get their gigs using the same technique?

                Comment


                  #9
                  I know several IFA's and believe me, they are spivs in suits who spin a line about "only we can get this deal". It's bull. They sell on commission, often a whopping sum of money. They get themselves the best deal.

                  Do you think companies don't want your money if you go direct?

                  Wake up, most so called "Independent" Financial Advisors are just Rec Cons with a couple of O Levels.

                  I'm wasting my breath here as usual.

                  Carry on.

                  Comment


                    #10
                    Originally posted by DimPrawn
                    Do you think companies don't want your money if you go direct?
                    In the case of Abbey....obviously not.

                    Originally posted by DimPrawn
                    Wake up, most so called "Independent" Financial Advisors are just Rec Cons with a couple of O Levels.
                    Very good analogy

                    Comment

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