I have posted on here about our current situation with Dilock/ICS Mortgages.
Our mortgage was taken over by Dilosk a number of years ago. As usual nothing really changed when the takeover happened.
I was on a 4.35% SVR and this was remained the same after the take over.
A few months went by and from reading this forum and seeing better rates on the market I contacted Dilosk stating I had
Approval in principal from KBC for 3.5%. I have good equity in the property but have a BTL in negative equity.
Dilosk offered me a 0.4% discount on the SVR over the life of the mortgage which I accepted as it turned out when push came to shove KBC would not deal with me due to the BTL.
I then heard about 6 months ago that Dilosk were offering fixed rates. 3.6% for 2 years & 3.5% for 3 years.
I didn’t do anything at the time as I was unsure about the BTL. I thought about selling and taking the hit.
So I rang a number of days ago and was told these fixed rate offers were coming to an end shortly.
I asked if I was to take it what rate would I be offered when the fixed term ends.
“You will be offered our SVR which currently is...........(drum roll)............4.80%!!!!!”
This is madness. Surely it would be back onto 3.95%.
Oh no I was told the rate carried over was 4.35% and my discount of 0.4% for the life time of the mortgage would be gone as
I would be taking out a different product when taking up the fixed rate!
I am glad I asked what rate I would go onto after the fixed rate!
Our mortgage was taken over by Dilosk a number of years ago. As usual nothing really changed when the takeover happened.
I was on a 4.35% SVR and this was remained the same after the take over.
A few months went by and from reading this forum and seeing better rates on the market I contacted Dilosk stating I had
Approval in principal from KBC for 3.5%. I have good equity in the property but have a BTL in negative equity.
Dilosk offered me a 0.4% discount on the SVR over the life of the mortgage which I accepted as it turned out when push came to shove KBC would not deal with me due to the BTL.
I then heard about 6 months ago that Dilosk were offering fixed rates. 3.6% for 2 years & 3.5% for 3 years.
I didn’t do anything at the time as I was unsure about the BTL. I thought about selling and taking the hit.
So I rang a number of days ago and was told these fixed rate offers were coming to an end shortly.
I asked if I was to take it what rate would I be offered when the fixed term ends.
“You will be offered our SVR which currently is...........(drum roll)............4.80%!!!!!”
This is madness. Surely it would be back onto 3.95%.
Oh no I was told the rate carried over was 4.35% and my discount of 0.4% for the life time of the mortgage would be gone as
I would be taking out a different product when taking up the fixed rate!
I am glad I asked what rate I would go onto after the fixed rate!