So...we're just out of our 2 year introductory rate with a mortgage lender (post office) and are shopping around for a better deal. I'd heard that it was usually far less hassle to go through your current lender, so called them to find out what they could offer me.
As an existing customer, it turns out, the best rate on 70% LTV they could offer me was well over 4%! So I'm obviously going to have to start looking elsewhere :(
is this usually how it works? If so, why do so many people fix new deals with their current lender? Even factoring in fees and valuation would make that not worth doing when we could move. So I wonder if something here is wrong?
As an existing customer, it turns out, the best rate on 70% LTV they could offer me was well over 4%! So I'm obviously going to have to start looking elsewhere :(
is this usually how it works? If so, why do so many people fix new deals with their current lender? Even factoring in fees and valuation would make that not worth doing when we could move. So I wonder if something here is wrong?