Hi, a quick query
I'm with P/TSB on a 4.2% variable rate which was set a few years back when they offered to value my home. Wish I could move but at the moment we're on one salary only and won't meet the criteria for the mortgage amount outstanding. I called P/TSB because I thought I could have the rate lowered to 4% now as the value of the house should be higher together with paying another two years off the mortgage and said I would organise a valuation, with one of their approved valuers - however, they said it doesn't work like that, that I am set now at the 4.2% - is this correct, as it seems crazy that when the ltv changes, you can't opt for the lower rate - thanks for reading and any advice.
I'm with P/TSB on a 4.2% variable rate which was set a few years back when they offered to value my home. Wish I could move but at the moment we're on one salary only and won't meet the criteria for the mortgage amount outstanding. I called P/TSB because I thought I could have the rate lowered to 4% now as the value of the house should be higher together with paying another two years off the mortgage and said I would organise a valuation, with one of their approved valuers - however, they said it doesn't work like that, that I am set now at the 4.2% - is this correct, as it seems crazy that when the ltv changes, you can't opt for the lower rate - thanks for reading and any advice.