That doesn't sound right to me but I rang their mortgage question line so I've nowhere else to go.
UB's website is pretty clear on the point:-
"When your fixed rate mortgage expires you can revert to SVR or any other mortgage product that you may be offered at this time."
That's not the case with all lenders. The KBC fixed rate offering, for example, provides that fixed-rate borrowers will roll off to a new business LTV variable rate as determined at initial drawdown.
Still not worth it I think as I'm on 3.1% now which is always meant to be 1.2% lower than their SVR.
Ulster Bank have some existing mortgages where they gave people special rates linked to the SVR.
This deal is better for you than any deal on offer to new customers.
I don't think that's quite clear. It adds up to you can move to any product they offer you without listing what those products are. Im on the loyalty rate at the moment. That's a product they've offered me now and don't offer at the end of the fixed rate.
Giving KBC credit is a bit premature. They only changed their terms sa few months ago. I switched away from them as they wouldn't take LTV into account and were happy to leave me on 4.05%. From their news today they are announcing how many new customers they got in 2016. It doesn't say how many switched away from them.
I see Ulster bank has new loyalty rate is 3.0%.... savings of .1% but still something.
Only for LTV <60%, which is completely new - the Loyalty rate didn't previously have a <60% band on offer.
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