Best Bank for RemortgageThe Best Bank for Remortgage
Some of its clients have received letters from St. Anthony, enabling them to repay their mortgages a full six-month earlier without incurring penalties.
Some of its clients have received letters from St. Anthony, enabling them to repay their mortgages a full six-month earlier without incurring penalties. However, freelance mortgages agents, angered by being excised from the cycle, have been warning clients that moving businesses to another mortgage could mean they are not getting the best offer on the open-market.
Santander's spokesperson said: "Our top priorities are to offer our clients outstanding quality goods and service in a suitable canal. By sending a message, we sketch out your possibilities for ensuring a new tariff, which includes direct contact with us by telephone if you need assistance, digital or through your brokers who can offer a complete overview of the markets.
However, mortgages agents have claimed that the move is part of a broader move by the banking and home loan and savings community to induce clients to make so-called "product transfers". That means that a bank or bausparkassen can say that it does not need a borrower to obtain finance as part of the redemption procedure, and that it can do so "only in execution" - which saves them either valuable investment funds or not.
The Association of Mortgages Intermediaries, a leading brokerage organization, publishes a document claiming that this year mortgages are falling under the EZV radars with between 80 and 100 billion pounds of mortgages transferred. In this year, GDP mortgages are expected to be around £260 billion. It can take up to 30 min to complete a transaction and can be done completely on-line or on your phone - making it the simplest way to deposit a hypothec.
However, subject to your lending institution, applying to a new installment through a straight line counter may not trigger a new rating of your home. While this may seem academical, if your home has gone up in value since you took out your home loan, your loan-to-value is unreasonably smaller even though you have made firm refunds.
Meanwhile, creditors have argued that there is no proof that a borrower loses by being transferred to a new business with the same creditor.