Keeping up the financial chat...

Discussion in 'Bulletin Board ARCHIVE' started by budmustang, Sep 16, 2007.

  1. budmustang

    budmustang Well-Known Member

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    This NatWest promotion of "Lower Mortgage Repayments or £1000"... Does this mean if they can't really beat your current lender they'll just say you can repay your mortgage over a longer period hence lower monthly repayments? I can't see them handing over too many grand payments.
     
    budmustang, Sep 16, 2007
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  2. Den

    Denby Dale Tyke New Member

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    What do you think?

    :D
     
    Denby Dale Tyke, Sep 16, 2007
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  3. Rev

    Revvie P Well-Known Member

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    It's an empty promise.

    Here are the rules:

    * Existing mortgage with: Halifax, Abbey, C&G (Lloyds TSB) and Woolwich (Barclays)
    * Minimum mortgage of £50K, with a maximum LTV of 75%
    * Excludes internet, staff concessionary, BTL, stepped, offset, current account, extended tie in and products with arrangement fees greater than £999.
    * Monthly repayment comparison is made against NatWest 2 year Base Rate Tracker at 5.14%

    So what they mean is as long as your current mortgage is one of a carefully selected few on the market that they know full well they can beat, they'll pay out if they can't beat your current deal, i.e. never.

    Pity, because the balance on my mortgage is £1.20 with a monthly repayment of £0.00. I was looking forward to bobbing into NatWest to pick up my free grand!
     
    Revvie P, Sep 16, 2007
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  4. Gue

    Guest Guest

    LOL quality

    I can't believe they don't have to mention THAT many restrictions in the adverts.

    Oh and my thought was the first as the original poster, to reduce monthly repayments, just string the loan out over a longer period - which is in effect what the advertising for all daytime TV loan companies is about. Personally I'd make them explicitly state that you'll end up paying back a hell of a lot more because of the longer loan period.
     
    Guest, Sep 16, 2007
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  5. Arn

    Arnside Red Well-Known Member

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    you need to go to........................

    Ocean Finance :eek: :eek: :eek: :eek: :eek: :eek:
     
    Arnside Red, Sep 16, 2007
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  6. Gue

    Guest Guest

    Barclays did something similar a few years back

    Was it Woolwich mortgages? Can't remember. Anyway, conversation went something along the lines of:

    Them: "What type of mortgage do you have, endowment or repayment?"
    Me: "Pension."
    Them: "We don't offer those so we can't compare."
    Me: "So do I win?"
    Them: "No. Go away."
     
    Guest, Sep 17, 2007
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  7. budmustang

    budmustang Well-Known Member

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    That Carol Vorderman will sort you out...

    The stuff she puts her name to is criminal. She's using the fact that she's good at simple mental arithmetic to flog all kinds of dubious products to gullible folk.
     
    budmustang, Sep 17, 2007
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  8. Gue

    Guest Guest

    "If you do the sums . . ."

    I agree, shocking abuse of trust.
     
    Guest, Sep 17, 2007
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