davegtt

Hi Guys, just wondering if any1 on here has 1 of these set up, seems to a pritty good idea.

Im looking at taking a Loan/morgage out with them and seem to grasp the good points about it... just 1 or 2 quick questions if some1 could answer me please

Am I right in saying the rate at which you take your borrowings out dont change, it's a fixed rate for the length of the borrowings?

and any1 who has set 1 up what sort of charges do you get for setting 1 up, vauation fee anything else??? just wondering what to expect. it says on the online application form we'd be responsible for these charges and they will let us know when the application is being processed what these charges will be (didnt like the sound of that so thought Id ask first

cheers

dnb

We've got a one account. The interest rate is variable. Also, the rate gets lower the more equity you own in the property it's secured on.

I like the account, and it works well for us. Think carefully about it though if you're not very disciplined with money - it's too easy to go and spend up to your limit borrowing limit...
(double glazing for the house and a Scoob bought in the same month for me!! )

As for fees - I had a valuation survey and that was about it. I will check this tonight, as I'm unsure but I think the cost was about £200.

There is a referral scheme at the minute - if a One account owner refers a new customer, then they both get £100 or so. This isn't my motivation though... But it would help pay for that down pipe

davegtt

lmao, well you refer me then £100 is £100

thanks for your advice, I was almost certain it was a fixed rate, thats put me on the back foot now, its 1 of the only reasons that my misses is happy to go with a one acct cause I thought it was fixed dissapointed now, might have to rethink this not wanting to go with a variable rate esspecially with the expected rise in interest rates over the next year or 2 begger