Anyone switched to a new deal with existing lender?

[lightgreenglass]

And how painful was it?

I was under the impression to switch to a new fixed deal with the same lender that it was relatively pain-free.

Having been placed on hold for an hour with TSB and having to book an appointment to ring them next week I am starting to think that it would be easier to re-mortgage with an entirely different bank!

Plus they said the phone call could take all day and the advisor may take breaks and a lunch break of up to FIVE hours!

They also seem to want all our financial details again? I thought when you stayed with the existing lender to avoided having to submit payslips etc again.

If anyone has been through this any advice would be great!

I'm a branch based mortgage adviser for TSB and I can assure you that the telephony based staff don't have all day phone appointments and don't take 5 hour lunch breaks. I've no idea who you spoke to but they got that very wrong!

With regards to renewing your deal, I do these in branch and rarely need any income checks (e.g. payslips) if it's just a straightforward change of rate - if you wanted to do anything else (reduce the overall term, borrow more money etc) then I more than likely would need to get payslips.

Feel free to PM me with what part of the country you live in, and I can point you in the direction of your nearest branch based mortgage adviser, if you like?

We did this with Nationwide last year.

Did it online, was sent the forms to sign and was done! Very easy. Also got £100 as a goodwill gesture!

Same as BumWad. looked at rates on line, spoke to financial advisor, no-one could get us a better rate than Nationwide. Did it on line, had a 30 second conversation with a mortgage broker, got forms in post and sent them back. £100 thank you and £80 a month saving. Didn't have to provide any documentation, no valuation, no legal fees (we did have to pay a "product fee" due to the mortgage that we went with) but it was great. 2 yr deal coming to an end in a couple of months and very tempted to stay with Nationwide again.

I did it with Accord. It took a two minute phone call in which I asked the rate and said I'd like to switch, then they sent me one piece of paper to sign to confirm that I understood it was a fix with a penalty for leaving early.

I changed rates with Satander. I had a similar experience to letsplayscrabble.

I'm in the middle of remortgaging with the Halifax (existing lender). I assumed it would be a quick phone call and a product switch (the 2 year deal runs out a the end of the month, but they are treating it as a fresh application, with a light touch on the financial checks (the new deal will save us quite a lot of money because our LTV has improved). It has taken almost 4 weeks so far, and the conveyancing is also turning into a headache.

They have told me that my current mortgage is an old product and they are moving everyone over to a new system.

The saving will be worth it in the end, but goodness me it has been a pain.