sainsbury's bank mortgage review

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Average Ratings

Value for Money	8/10
Overall rating	9/10

100% Recommended2 out of 2 Reviews

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By Darth Andy. on 28th Oct 2002

Darth Andy.'s Ratings

Value for money	7/10
Overall value	9/10
Darth Andy.'s recommendation

Good Points

Very Flexible,
30,000 Reward points every year.

Bad Points

Not the absolute cheapest.

General Comments

To be honest, I could have got any of many 'cheaper' mortgages, but the fact is that the mortgage from Sainsburys bank was one of the most flexible I found.

You can make a lump payment and they will either recalculate your payments or your loan duration, you can make overpayments or take repayment holidays as long as the repayments add up at the end of the year, you can even pay off the whole amount (luck and the lottery allowing) - all with no penalty.

The addition of 30000 reward points every December is worth £150 off your shopping at Sainsbury's (with it now being Nectar points it's probably even better).
For a smallish mortgage such as mine (minimum £25000), the 30,000 points dropped the price into the lower end of the market. Add in the no penalty flexibility and it's obvious why this became the mortgage for me.

Total Respect: +3