1Year Fixed

We seem to be loosing a lot of mortgage business through our early redemption penalty. Customers readily accept that if they change their mortgage during the first year they should be penelised. However, to extend this for three years after the end of the fixed rate period puts us at a diadvantage when competing against other lenders. Noteably Cheltenham & Glouster and Northen Rock. Peoples perception of this penalty is that it is sneaky and excesive and that we are not confident of our customer serve to retain customers when the revert to the standard variable rate. ...  Read the complete review

This mortgage was pretty ground breaking when we brought it out especially for young couples. First time house buyers liked the security of a fixed payment while they purchased everything they needed to fill their new aquisition Test for Logi BankTest for Logi BankTest for Logi BanTest for Logi BankTest for Logi Bank Test for Logi BankTest for Logi BankTest for Logi BanTest for Logi BankTest for Logi Bank Test for Logi BankTest for Logi BankTest for Logi BanTest for Logi BankTest for Logi Bank Test for Logi BankTest for Logi BankTest for Logi BanTest for Logi BankTest for Logi Bank Test for Logi BankTest for Logi BankTest for Logi BanTest for Logi BankTest for ...  Read the complete review

I think our current 1 year fix is not competative enough at 6.6%. We are looking decidedly second best compared to Abbey's rate of 5.5%. Is there not the opportunity to match this rate given the seemingly stable medium term interest rate. If this is not the case could we reduce the tie in period so without redemptions to give us something to sell against lower interest rate products. We could always increase the Mig fee as this is one are we rarely get questioned on as by that point we are very down the line ...  Read the complete review