One day a bloke named Bradford was walking down the street when out of nowhere another bloke named Bingley comes up to Bradford and says "by the way have you seen my cock?" to which Bradford replied "no but i found this stick" just as he said this, a legless chicken ran by, nicked the stick and left. Bradford was in tears. Bingley told him to sort himself out and pick himself up and carry on with life. Bradford later died after tripping up over the same stick he found earlier.
Two years ago I took out a seven year fixed rate at 6.49% with the B&B which was a reasonable deal at the time but meant I had to take one of their insurances and agree to punitive redemption penalties. Since then the market has moved on, flexible mortgages are taking over, and the more savvy lenders are realising that they are more likely to retain customers long term by NOT tying them in and making them pay for extras as it puts your back up before you've started. All the major lenders have finally cottoned on to this with one notable exception - B&B. It seems that their conversion to PLC status is already restricting choice to customers who would relish the chance of switching to a flexible to save money. Shareholders may need to be satisfied short term but I can't see many customers sticking around long after their fixed terms, and new business must be suffering too.