FAQs

Answers to some of the most frequently asked questions. We hope that these FAQs provide all the information you will need, but if not, please call our Contact Centre on 0330 159 2591*.

Lines are open 8.30am to 6.00pm Monday to Friday.

Will Mortgage Express start lending again?

Following the transfer of the Mortgage Express mortgage book into public ownership, our long-term strategy is now to wind down the business and repay the taxpayer by helping our customers to repay their loans or find a better deal elsewhere. We are no longer able to offer new lending and do not anticipate doing so at any point in the future.

As you are now closed to new business, what is happening to your existing mortgage customers?

We are committed to maintaining service standards for our existing customers and they are under no obligation to leave Mortgage Express before the end of their existing mortgage term(s). However, we may not be able to offer our customers a competitive mortgage rate in the future and we may not be able to meet all of their borrowing needs. We therefore want to help our customers find a better deal which could save them money on their mortgage.

How are you helping customers find a better deal?

To help our customers save money and gain greater flexibility we are actively working with other lenders to find suitable remortgage deals and may pro-actively contact some customers with details of offers that may be suitable.

We will always advise a customer to speak to their original broker if they require advice before moving their mortgage. If the customer no longer has a relationship with their broker then we will refer them to one of our broker partners to ensure that they receive the best mortgage for their needs.

Our online DealFinder tool helps our customers search the market to find a better deal. This searches the whole market and compares mortgages from lenders that meet the customers chosen requirements. The data and the system is provided independently by Defaqto, a leading supplier of financial information to a wide range of organisations. Not every deal shown will be available through intermediaries.

Will you still help customers who are in arrears and facing repossession?

Mortgage Express shares the view outlined by the Government that repossessions should only be actioned as a last resort. We encourage customers who are experiencing payment difficulties to contact us as soon as possible to discuss their specific circumstances as there may be a range of options open to them that could help them meet their monthly payment obligations. We will always try to work with our customers to find a solution.

Can customers still port their mortgages?

Existing Mortgage Express customers may move home and port their existing mortgage deal. However, we are only able to port the existing deal if the new mortgage is of the same value or less than their existing balance.

Please note that the porting service is only available through a range of key business partners - alternatively, existing customers can contact us direct. We no longer pay any 'procuration fees' on porting cases.

Can customers still use Choices?

Yes, the Choices overpayment facility is still available. More information about Choices (including application forms) is available in the 'Overpayments' section of our website for landlords and homeowners.

My customer has a large portfolio of Buy-to-let mortgages properties and they are worried about managing them. What should I advise them to do?

We have set up a specialist team to support landlords with 5 or more Buy-to-let mortgages with Mortgage Express and Bradford & Bingley, to explore ways we can help them perform better in this challenging market. If you have a client that could benefit from this service they can call the Portfolio team on 0330 159 1929 or visit the Portfolio section of our Customer website for full details.