YBS - Anyone had any luck negotiating mortgage renewals

[B9]

In particular, the better rates offered to new customers?

We're due for a renewal and the 5YR fix for new customers is 3.83% and a fee of £1495

My renewal quote is either 4.17% and a fee of £1995, or 4.25% and a fee of £995 (the latter actually works out better over the 5 years)

Has anyone been able to negotiate getting the 'new customer' rate? I'd be reluctant to change to save a few quid, but that's a few grand over the 5 year term. I see Barclays are offering the same for new customers (albeit a £500 lower fee, but that'll be eaten up by conveyancing etc).

Edited by B9 on Monday 17th April 10:47

[Sarnie]

Lenders do not negotiate rates.......

There would be no conveyacing fees when moving to a new lender usually, most offer free solicitors costs.....

[B9]

Sarnie said:

Lenders do not negotiate rates.......

There would be no conveyacing fees when moving to a new lender usually, most offer free solicitors costs.....

In your experience, do they allow flexibility of the products being offered (rather than rates)?

Two products with effectively the same criteria - Borrowing amount, term, etc etc

Renewal is product ID XYZ but website for transferring (new) customers is ABC. Same borrowing amounts, LTV etc

Computer says no?

[Sarnie]

B9 said:

In your experience, do they allow flexibility of the products being offered (rather than rates)?

Two products with effectively the same criteria - Borrowing amount, term, etc etc

Renewal is product ID XYZ but website for transferring (new) customers is ABC. Same borrowing amounts, LTV etc

Computer says no?

I'm not sure exactly what you are asking but if you are asking can you get the rate that the lender is offering to new clients, as a current client, the answer is no. You take the product transfer rate or ove to a new lender.

It's called dual pricing (having different rate for current clients and new clients) and YBS have done it for years. Sometimes it can go for you, where the product transfer rate is lower than the new client rates, but sometimes it can go against you, which in this case it seems to be.