I'm 39 years old, married, 3 kids, and feeling old!
I'm 39 years old, married, 3 kids, and feeling old!
Member since:31.01.2003
Reviews:51
Members who trust:11
Here's a little story from last Summer.
Having held a mortgage with the Abbey National (Scabby Abbey) for a few years, I was at best disappointed to discover I was paying 6.1% (their classic rate! Ha! Read classic as RIP OFF) when their new customers where getting a 5% deal (after discount expires). Given that they were reluctant to arrange the same deal for me, I decided to shop round and see what else was in the market place.
After doing a little research, I booked an appointment with my local Halifax branch for 7pm the following night (yes! 7pm - they open until 8pm in the Trafford Centre!).
On entering what is a very large branch, I wandered over to a reception point to make the only visible member of staff aware of my presence. I was advised that my Mortgage Adviser, Carole, would probably be 15 minutes or so as her previous appointment was over running. I did not really mind, especially as the supplied a great cup of coffee in a real cup!
Well, when Carole eventually became available, I have to confess, she gave me a cracking service. While explaining the Mortgage Code of Practice, The
General Insurance Council's Code Of Practice and the Association Of British Insurers Code Of Practice for life assurance, she converted herself to a human being and asked about my circumstances and what I was looking to achieve.
The answer was quite simple - save money on my £55,000 mortgage! She then delved in to my circumstances a little more deeply, establishing income, employment, existing life assurance policies and more, before producing a quotation knocking £83 a month off my existing mortgage payment (a rate of 3.99% compared to the 6.1% my friends from the Abbey National were charging).
She pre-empted my next question by telling me what the catch was! Redemption penalties for the first 3 years and a rate that will rise to 5% in that period, assuming no change in the Bank Of England rate. So even at the end of 3 years, I will still be better off than I am now! As I do not intend to move in the next three years, I could see no catch. They also allow me to overpay by £5,500 a year (I wish) without paying the penalty clause either! While briefly discussing other options, such as a slightly higher rate with no penalties or a fixed rate, I settled on the 3.99% which tracks the Bank Of England base rate.
Better still, my initial research suggesting that there were no legal, valuation or arrangement fees was confirmed. Carole did warn me however that Abbey National tend to charge £150 or so for me to repay their mortgage early and let me know Halifax charge a similar figure of around £125 in the same circumstances - standard practice grrrr.
She then delved a little further in to my circumstances asking me what I planned to do with my £83 a month. To be honest, other than enjoying more money in my pocket, I had no plans. She asked me how comfortable I was with my Standard Lifeendowment policy. I admitted that I would prefer guarantees rather than relying on Standard Life's fund managers to pay off my mortgage. With a little bit of playing about on her computer, she established that I could switch to a part endowment, part repayment basis, relying on just £35,000 (instead of £55,000) and still save over £30 a month on my existing outgoings! I jumped at the opportunity, especially when she said I could adjust things in future should my circumstances change. The good thing here is that I get any proceeds from the endowment policy over and above £35,000 - ideal as my little one could start university around that time! Unlikely given the letter Standard Life have just sent me about their investment performance.
Carole then went one better. I have always had my buildings and contents insurance with the Abbey. Halifax offered me a policy, which is equal to or better than the existing cover Abbey give me. And it is £12 a month cheaper too! I had not even given home insurance a thought!
As she pointed out, the insurance saving alone will cover Abbey's £150 fees to settle my mortgage with them!
So, it was now 8.15pm and the branch was closed for the night, but Carole the professional continued. She asked me if I wanted to proceed with the application or wanted time to think as I had only booked the appointment as a fact-finding expedition! 15 minutes later, everything was in place. Forms signed. Solicitor appointed. Valuer instructed. No money to hand over! Great stuff.
Carole said as my salary is already paid into my current account, all I needed to do was confirm my ID, which I did. The next I would hear would be from solicitors. Within 7 days, I completed a simple questionnaire and within a month, my mortgage was with the Halifax and much cheaper!
This is probably the best-paid 75 minutes I have ever worked in my life. The Halifax product was good, I was well looked after in the branch despite a delay to my appointment and the Mortgage Adviser, Carole, shared her life experiences, professional expertise and general good humour to make the process very simple. Oh, and I even got her mobile phone number to allow me to bypass the call centres!
Would I recommend the mortgage? Yes - for a fee free deal it was the best I could find from a national lender. I will need to reconsider that again in 3 years time though. Would I recommend the service I received? Well, without any doubt. Pleasant branch, brilliant personal service and easy to contact people made Carole a great person to do business with. If other Halifax people are this good, they are a company going places.
I've lost Carole's mobile phone number since my mortgage completed, but the direct dial for her is 0161 910 9665 - a guarantee of not talking to a monkey in a call centre too!. She could well save you a lot of money - and make it easy to do!
NOTE: This service was received in 2002 and at the time of posting interest rates generally have fallen by 0.25%.
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brilliant review, at the moment i am trying to find out some more information about this kind of staff and i really think that your review is very helpful. thanks . kriss
petitesquirt 23.04.2003 20:37
What a great op!
blueduck 23.04.2003 20:31
Have always considered getting away from the 'Big Four'. Excellent op, thanks. Stuart.
Advantages: Make you feel better about the way you do your own job. Disadvantages: Difficult to contact, inept when you finally manage it, unable to answer straight questions. Underhand
cwestern 15.04.2006 (15.04.2006)
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Ciao members have rated this review on average: helpful
Review of Halifax Mortgages
Advantages: very friendly helpful staff, can offer services to the likes of me (!) whereas otherlenders wrote me off as a liability Disadvantages: none really
judithritchie 28.04.2001 ·
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Ciao members have rated this review on average: very helpful
Review of Halifax Mortgages
Advantages: That you get all the benefits as well as still earning 6% interest Disadvantages: The monthly fee, though not extortionate compared to similar accounts elsewhere.
PINKLADYRLE 08.08.2007 ·
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Ciao members have rated this review on average: somewhat helpful
Review of Halifax Accounts
Apr 23rd, 2003
(Apr 24th, 2003)
very helpful by (96%):
helpful by (4%):
