Mortgage Question

luvgonzo

luvgonzo

Pisshead
Jan 26, 2011
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63,818
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Jubilee Street
So my mortgage fixed rate is near it's end but kinda forgot about it. I have a month left and it will take a bit longer to change over to a new fixed rate.

Because I've left it late I'll switch to a variable rate for 1 payment, no huge deal but my mortgage company did not inform me that my fixed rate is coming to an end and seeing as financially that's to their advantage I'm going to complain and see if I can get anywhere. So yes my fault but surely they have to inform me of the end date other than on the initial paperwork?

So once again I'm throwing this out there to the great minds of not 606.
 
luvgonzo said:
So my mortgage fixed rate is near it's end but kinda forgot about it. I have a month left and it will take a bit longer to change over to a new fixed rate.

Because I've left it late I'll switch to a variable rate for 1 payment, no huge deal but my mortgage company did not inform me that my fixed rate is coming to an end and seeing as financially that's to their advantage I'm going to complain and see if I can get anywhere. So yes my fault but surely they have to inform me of the end date other than on the initial paperwork?

So once again I'm throwing this out there to the great minds of not 606.
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They normally inform you .
I had one end in July and they sent a letter 2 months before !
Some good deals out there for 5 year fixed rate
 
luvgonzo said:
So my mortgage fixed rate is near it's end but kinda forgot about it. I have a month left and it will take a bit longer to change over to a new fixed rate.

Because I've left it late I'll switch to a variable rate for 1 payment, no huge deal but my mortgage company did not inform me that my fixed rate is coming to an end and seeing as financially that's to their advantage I'm going to complain and see if I can get anywhere. So yes my fault but surely they have to inform me of the end date other than on the initial paperwork?

So once again I'm throwing this out there to the great minds of not 606.
Click to expand...

Read your mail and pull ya ****ing self together luvvy, my best advice to you..<ok>
 
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You have enough time to switch to a new rate with the same lender. If you want to change lender then yeah you may not have enough time unless you use a mortgage broker who should be able to do it in two weeks if they pull their finger out.
 
luvgonzo said:
So my mortgage fixed rate is near it's end but kinda forgot about it. I have a month left and it will take a bit longer to change over to a new fixed rate.

Because I've left it late I'll switch to a variable rate for 1 payment, no huge deal but my mortgage company did not inform me that my fixed rate is coming to an end and seeing as financially that's to their advantage I'm going to complain and see if I can get anywhere. So yes my fault but surely they have to inform me of the end date other than on the initial paperwork?

So once again I'm throwing this out there to the great minds of not 606.
Click to expand...

If you're coming to the end of your current deal, then you can basically get what you want from them in the same way you can any deal that is about to expire, just tell them you'll move to another provider <ok>
 
J๏E.. said:
Read your mail and pull ya ****ing self together luvvy, my best advice to you..<ok>
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Haven't even had the letter yet. They are saying they told me the end date 5 years ago. Is it reasonable to expect me to remember that date? Is it reasonable to send me a reminder letter that doesn't give me time to move my mortgage?
 
PISKIE said:
If you're coming to the end of your current deal, then you can basically get what you want from them in the same way you can any deal that is about to expire, just tell them you'll move to another provider <ok>
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That's what I'm doing but I don't have enough time to move it over so I'll pay one month at a variable rate which is more expensive.
 
luvgonzo said:
So my mortgage fixed rate is near it's end but kinda forgot about it. I have a month left and it will take a bit longer to change over to a new fixed rate.

Because I've left it late I'll switch to a variable rate for 1 payment, no huge deal but my mortgage company did not inform me that my fixed rate is coming to an end and seeing as financially that's to their advantage I'm going to complain and see if I can get anywhere. So yes my fault but surely they have to inform me of the end date other than on the initial paperwork?

So once again I'm throwing this out there to the great minds of not 606.
Click to expand...

I'm not sure with mortgages, but I know it use to be the case with a lot of finance companies, especially those doing 0% interest on buying household items, with a final payment, that they purposely would not send the final payment letter, so that you would default and kick in the penalty interest. However, whether mortgages are free of that sort of underhand shenanigans, I'm not sure.
 
Sweats. said:
You have enough time to switch to a new rate with the same lender. If you want to change lender then yeah you may not have enough time unless you use a mortgage broker who should be able to do it in two weeks if they pull their finger out.
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Using a broker but they are saying 4 weeks.
 
luvgonzo said:
Haven't even had the letter yet. They are saying they told me the end date 5 years ago. Is it reasonable to expect me to remember that date? Is it reasonable to send me a reminder letter that doesn't give me time to move my mortgage?
Click to expand...

Then nail them for lack of communication.. If you are a payer with a good record there will be lots that would take your business..<ok>
 
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Tel said:
You could just be an adult mate and have your **** together.

Just FYI if you’re staying with the same provider they’ll practically approve it in about 15 minutes so it’s not necessarily too late.
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Yeah mainly my fault but I just think this is a sneaky way of getting more money.
 
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luvgonzo said:
Using a broker but they are saying 4 weeks.
Click to expand...

I wouldn't bother with a broker. Just tell your Mortgage company that you want them to sort out another deal asap to avoid the SVR for a month, otherwise you'll switch.
 
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