intermission
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Has anyone any experience of switching an affordable housing mortgage from one finanical institution (not the council) to another? If so, is it straightforward?
I'm with BOI, who gave me a great discounted fixed rate for the first year (2.95%), after which I will move onto their regular tracker (ECB +1.25 = 4.25% at today's rates). The first year is nearly up and 4.25% isn't looking too appealing compared to some of the other offers around e.g. BOSI switcher mortgage - Discounted rate of 3.45% for first 2 years, then 4% thereafter.
My query is whether such a switch is possible, and if so can you only switch to another lender who offers affordable housing mortgages (e.g. EBS, IIB... not sure if there are others?) or can you switch to any mortgage provider?
I'm with BOI, who gave me a great discounted fixed rate for the first year (2.95%), after which I will move onto their regular tracker (ECB +1.25 = 4.25% at today's rates). The first year is nearly up and 4.25% isn't looking too appealing compared to some of the other offers around e.g. BOSI switcher mortgage - Discounted rate of 3.45% for first 2 years, then 4% thereafter.
My query is whether such a switch is possible, and if so can you only switch to another lender who offers affordable housing mortgages (e.g. EBS, IIB... not sure if there are others?) or can you switch to any mortgage provider?