... I do not own this product, but work to remortgage Preferred Mortgages loans on a semi-regular basis, and work with their parent company Capstone Mortgage Services a little more often.
Unfortunately both Preferred Mortgages and Capstone Mortgage Services are quite notorious in my company, ... Read review
Advantages: Always extremely accurate with figures Disadvantages: Drag their heeks when you wish to move lender
...product, but work to remortgage Preferred Mortgages loans on a semi-regular basis, and work with their parent company Capstone Mortgage Services a little more often.
Unfortunately both Preferred Mortgages and Capstone Mortgage Services are quite notorious in my company, but not for many reasons. I cannot speculate on their rate or fees as it is much easier to note these down with the more common mortgage providers, but Preferred Mortgages ... ...your mortgage.
Preferred and Capstone both tend to drag their heels when it comes to releasing documents to whoever is appointed to deal with your remortgage. They very are tight on Data Protection, which is part of the problem when repaying your mortgage, especially if you have a timescale, but on the upside obviously this indicates they are taking care of the information of their customers, which so many banks who also provide mortgage ... more
I am writing numerous reviews on mortgage lenders similar to this review as I am giving an inside respective on how certain lenders treat their customer and how their processes work in regard to repaying your mortgage. I do not own this product, but work to remortgage Preferred Mortgages loans on a semi-regular basis, and work with their parent company Capstone Mortgage Services a little more often.
Unfortunately both Preferred Mortgages and Capstone Mortgage Services are quite notorious in my company, but not for many reasons. I cannot speculate on their rate or fees as it is much easier to note these down with the more common mortgage providers, but Preferred Mortgages is worth mentioning simply due to their difficulty when you wish to repay your mortgage.
Preferred and Capstone both tend to drag their heels when it comes to releasing documents to whoever is appointed to deal with your remortgage. They very are tight on Data Protection, which is part of the problem when repaying your mortgage, especially if you have a timescale, but on the upside obviously this indicates they are taking care of the information of their customers, which so many banks who also provide mortgage services fail to do.
They tend to make sure they have the customer's written authority when releasing documents, but even when they do their turnaround times are never met. They never seem to receive written requests or authority, and have very poor customer service, which makes it hard to chase these documents. I understand Preferred Mortgages is a lender with not-so-strict rules on who they will allow to take out a mortgage with them, so it's unsurprising the do not wish to let these customers go, but it is worth knowing that Preferred tend to pro-actively delay the receipt of these documents.
I won't post an overall note as I have only detailed one (major) problem when repaying your mortgage with Preferred. My advice is if you plan to remortgage with this company, find out who is dealing with your remortgage and immediately send Preferred your authority (with every party to the mortgage as a signatory) to speed things up and let them know it is urgent, and they will be less likely to drag their heels. I simply throught this was noting for those people who wish to use Preferred to improve their credit rating and move to another more main provider.
Advantages: Accept most people for mortgage, accept part ownership buyers Disadvantages: Higher interest rate
...We got this of Preferred Mortgages, who were very willing to help us. Mortgages are very hard to complete at the best of times, but part ownership is even more difficult, as you you will see below.
We seemed to hit every problem imaginable!
*MORTGAGE*
The rates are variable, well that is what we are on anyway, ie if interest rate goes up, mortgage rate goes up. Obviously all persons are diferent, it would be impossible to state different interest ... ...were told it would be Preferred Mortgages, who said they could help people with CCJ's. We completed a form on the internet and they sent a reply back almost immediately saying they could help us.
Approximately a week later they sent us a application pack out which we had to fill out and send back with wage slips, bank statements etc. My husband worked full time and i worked part time so we were struggling to look like we earnt enough money to get ...
iloveshoping 13.04.2005
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Ciao members have rated this review on average: very helpful Review of Preferred Mortgages
Quality of Customer Ser...
Quick review of Preferred Mortgages
Preferred Mortgages... pah
After suffering illness we fell behind. so we decided to sell the house.
They took me to court even though I had received an offer for the property and I had told them this !
Court ruled for an adjournment, but Preferred didn't like it and took an exorbitant amount from our sales total
Avoid like the plague... they don't listen to you even though your ill !
Crooks! ...
Advantages: Good if you have bad credit and need a remortgage Disadvantages: High Interest Rates, Only one mortgage product.
...too picky.
Dealing with preferred mortgaes is very pricy, the whole thing including solicitors fees cost in the region of £ 1800.00 to remortgage but this covered everything, survey fees, coal searches etc.
The whole process took approx. 6 weeks from start to finish. The staff were friendley and they kept us informed every step of the way. The interest rate we paid was 6.75%. 4.5& above LIBOR.
It suited us as we were able to remortgage clear off ... ...is worth every penny.
Preferred only have one mortgage product though which is a variable rate mortgage and do not offer fixed rate mortgages or one time offers which you can sometimes get if you agree to stay with them for so many years. Remeber with a variable mortgage you can be hit hard when interest rates go up like they have been doing for the last 12 months.
On a security note I am always asked for verification infornmation when I ring and ...
lynsey1978 05.08.2005
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Ciao members have rated this review on average: helpful Review of Preferred Mortgages
I had been with Preferred Mortgages for a couple of years and suddenly began to receive letters from Capstone Mortgages about my account - they were saying I was in arrears by one month. I continually called them to find out about it, because I knew that my mortgage left my bank account the day after I was paid and that there was no way that I could be behind. The call centre staff had really a really bad attitude towards me when I called and I have ... ...they would never give me details, just tell me I was behind. I had never been told who Capstone Mortgages were - I had never heard of them until I got these letters, and the call centre staff were not forthcoming with an explanation when I asked!!
Now I find myself in receipt of court action to repossess my home - all because of one alleged missed payment - which when I spoke to someone recently about it, they couldn't actually pinpoint which month ...
lalaloren 02.06.2008
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Ciao members have rated this review on average: helpful Review of Preferred Mortgages
Advantages: NONE Disadvantages: POOR CUSTOMER SERVICES/UNABLE TO FIND PROOF OF CUSTOMER PAYMENTS
Unfortunately we have a mortgage with Preferred/Capstone, and we certainly would not recommend them to anyone. Several months ago we began receiving letters and phonecalls from them stating that we were behind in our mortgage and that they were taking further action. We sent proof from our bank on several occasions that we had indeed made our payments on time, but these were ignored. We have been trying to change lender and had the opportunity in ... ...Unfortunately Capstone did not amend our credit file and this still showed payments supposedly missed by us. When they learned we wanted to switch lender they again said they needed proof from us that payments were made on time. The Ombudsman are now involved but because of Capstone being difficult and dragging their feet with regards to amending our file we have now lost out on our deal and will have to remain with Capstone until the credit crunch ...
Hevann 20.05.2008
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Ciao members have rated this review on average: helpful Review of Preferred Mortgages
Quality of Customer Ser...
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Advantages: Saves loads of time; Locates all the best deals around; configurable to your needs Disadvantages: None
liking, e.g. the type of mortgage you would prefer. A little tip on mortgages:- when I tried to get a search on all types the site bombed out a few times, however when I tried to get results based on one type at a time, it was able to process this quickly. There are over 7000 different mortgages to choose from, so perhaps my initial enquiry was a little too big to process.
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Advantages: Sold my house at asking price Disadvantages: I don't receive service like that everyday
were taken quickly and easily using a small device (no tape measures)and she was polite and complimentary about the good points in the flat without seeming false.
I decided to get another valuation from another estate agent, just to be sure, but when they turned up, late, smarmy, and valued it at £8000 less, my mind was made up
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~~~~~~~~~~~~
I was signed up for 6 weeks, which meant they had exclusive selling rights for that time. We were charged 1.5% of the selling price.
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Advantages: Simple, friendly and helpful Disadvantages: They keep moving the mortgage centre!!
with the overpayments i had made!
That was 10 years ago!! In that whole 10 years I have always kept my mortgage with abbey. I have listed below the pro's and cons of abbey
*** Pro's ***
1) They do not have lots and lots of additional charges that some mortgages have. Unless you get into severe arrears.
2) You don't have to go into the branch to deal with them, a lot of the time you can just deal with the mortgage centre over the phone (for those who prefer to go into a branch you can)
3) They offer new build properties a great deal with no completion deadline! (great opportuinity to take advantage of current low rates)
4) They offer a huge variation in products, so they should have something to meet everyones needs.
5) You are free to change product as soon as product ends (no tie ins)
6) Great rates on home improvement loans (and ...
englishminx 20.12.2003
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Ciao members have rated this review on average: very helpful Review of Abbey Mortgages
