So after all the interest rate cuts Standard Life Bank have passed on hardly anything to their mortage customers, they're the one of the most expensive banks out there now (5.54% Standard variable Rate) versus the cheapest about 3.5 % most banks around 4.5% - for me thats a Standard Life rip-off of up to £546 per month!! bstards - they know you cant get a remortage as the valuations are low and the lenders are uber cautious.
Then my wife is made redundant and so loses her private medical scheme included in her salary, which I've paid to join as well. Standard Life immediately dump us BOTH as customers "as you've left your employer", I suspect this is an opportunistic move because I'm in the middle of hospital treatment, despite us asking before and after she "left her employer" to get a quote to continue the cover, by giving us the run around for over a month and its now over maximum 30 days since cover ceased I now suspect they will try to quote us as new customers with pre-existing conditions and quote huge premiums with additional cover exclusions. Fuming
Troubled financial product company in poor services shocker.
You may be right about the Standard Life SVR but have you actually tried to remortgage ? They are still available otherwise i would have been out of a job months ago. I also have to ask the question but why would you ever take a SVR mortgage and if it wasn't that originally then why didn't you renegotiate your mortgage when your original product came to an end (you may have already answered that by saying that the amount of equity in your property has dropped). Oh and for the record i don't agree with Stan Life about there reluctance to pass savings on the borrowers.
As for the issue with the insurance i would have to say that in my experence if your wife leaves her employment and you want to stick with the current insurer it will ALWAYS be treated as a new policy and so existing medical conditions would be taken in to account. The employer policy is a group scheme where as if a private individual has this type of policy it can't be a group scheme.
Unfortunatly for you the devil is in the detail 🙁