Re-mortgage now or wait?

[anonymous-user]

Deesee said:

asfault said:

"A small recession"....
Just like inflation was transitory

I can believe the US will avoid a recession but not us.

USA have the same issues we have, a ‘wealthy’ ‘retired’ population doing bundles on retirement goals.

They will spend ‘till the end..

On C4 evening news last night it said Russia’s economy is growing by something like 2.7% which is faster that US and U.K. put together, even with worldwide sanctions. Something to do with all the oil they keep exporting. The irony is the west won’t embargo Putin’s oil because it’ll drive up inflation. Just goes to show what a bunch of nobodies we really are.

[Sarnie]

Coventry BS now;

Here’s what’s changing:

Residential

New Borrowers
• Increasing all Fixed rates

Existing Borrowers
• Increasing all Fixed rates



Buy to Let & Portfolio Buy to Let

New Borrowers
• Increasing all Fixed rates (excl. 2 Year Fixed Remortgage rate at 75% LTV with no fee)

Existing Borrowers
• Increasing all Fixed rates

[DonkeyApple]

Sarnie said:

Coventry BS now;

Here’s what’s changing:

Residential

New Borrowers
• Increasing all Fixed rates

Existing Borrowers
• Increasing all Fixed rates



Buy to Let & Portfolio Buy to Let

New Borrowers
• Increasing all Fixed rates (excl. 2 Year Fixed Remortgage rate at 75% LTV with no fee)

Existing Borrowers
• Increasing all Fixed rates

Swaps have gone 50bp higher in recent times. FOMC minutes later today so might get a more up to date guess on 'higher for how long'. Energy remains cheap which is the real differentiator between US fossil fuel self sufficiency and dollar pricing versus U.K. importing using gbp.

It's interesting though that sonia 2 yr is now over 4.5% the opposing trend to inflation.

[sniff diesel]

Mortgage rates going up (Santander) all while the savings rates are dropping (Metro)

And on the day that HSBC announces record profits…

[Caddyshack]

sniff diesel said:

Mortgage rates going up (Santander) all while the savings rates are dropping (Metro)

And on the day that HSBC announces record profits…

I think Metro will see some drops in savers - they used to pay a lot but there have been a few wobbles for them financially so I expect people are swerving them.

I think Santander also dropped rates to bring in business and now have eased off PLUS the SONIA cost increasing.

[DonkeyApple]

sniff diesel said:

Mortgage rates going up (Santander) all while the savings rates are dropping (Metro)

And on the day that HSBC announces record profits…

HSBC isn't really relevant to us in the U.K. They operate in Asia. Barclays was the more interesting one with their 6% fall in profits.

[Chris Type R]

DonkeyApple said:

sniff diesel said:

Mortgage rates going up (Santander) all while the savings rates are dropping (Metro)

And on the day that HSBC announces record profits…

HSBC isn't really relevant to us in the U.K. They operate in Asia. Barclays was the more interesting one with their 6% fall in profits.

HSBC's turn to increase mortgage rates - https://theintermediary.co.uk/2024/02/hsbc-becomes...

[DonkeyApple]

Chris Type R said:

HSBC's turn to increase mortgage rates - https://theintermediary.co.uk/2024/02/hsbc-becomes...

All the U.K. issuers will have to as they fill and deliver the previous allocations and start offering new fills. 2 YT gilts now back to 4.6 so one imagines that to sell on a block of mortgages the lenders have to be competing in that sort of ballpark. 2yrs were under 4% just last Christmas.

[Sarnie]

Chris Type R said:

HSBC's turn to increase mortgage rates - https://theintermediary.co.uk/2024/02/hsbc-becomes...

Yep, across the whole range;

We’re changing our mortgage products

With effect from Friday 23rd February, we’ll be making a number of changes to our residential and Buy to Let (BTL) mortgage product ranges.
Summary of changes:
Existing residential customer switching
• 2 & 3 Year Fixed Fee Saver at 60%, 70%, 75%, 85%, 90% and 95% LTV increased
• 2 & 3 Year Fixed Standard at 60%, 70%, 75%, 85% and 90% LTV increased
• 5 Year Fixed Fee Saver at 60%, 70%, 75%, 80%, 85%, 90% and 95% LTV increased
• 5 Year Fixed Standard at 60%, 70%, 75%, 80%, 85% and 90% LTV increased
• 10 Year Fixed Fee Saver at 60%, 70%, 75% and 80% LTV increased
• 10 Year Fixed Standard at 60%, 70%, 75% and 80% LTV increased
• 5 Year Fixed Premier Exclusive at 60%, 70%, 75%, 80%, 85% and 90% LTV increased
Existing residential customer borrowing more
• 2 & 3 Year Fixed Fee Saver at 60%, 70%, 75%, 85% and 90% LTV increased
• 2 & 3 Year Fixed Standard at 60%, 70%, 75%, 85% and 90% LTV increased
• 5 Year Fixed Fee Saver at 60%, 70%, 75%, 80%, 85% and 90% LTV increased
• 5 Year Fixed Standard at 60%, 70%, 75%, 80%, 85% and 90% LTV increased
• 10 Year Fixed Fee Saver at 60%, 70%, 75% and 80% LTV increased
• 10 Year Fixed Standard at 60%, 70%, 75% and 80% LTV increased
• 5 Year Fixed Premier Exclusive at 60%, 70%, 75%, 80%, 85% and 90% LTV increased
Residential First Time Buyer / home mover
• 2 & 3 Year Fixed Fee Saver at 60%, 70%, 75%, 85%, 90% and 95% LTV increased
• 2 & 3 Year Fixed Standard at 60%, 70%, 75%, 85% and 90% LTV increased
• 5 Year Fixed Fee Saver at 60%, 70%, 75%, 80%, 85%, 90% and 95% LTV increased
• 5 Year Fixed Standard at 60%, 70%, 75%, 85% and 90% LTV increased
• 5 Year Fixed Premier Exclusive at 60%, 70%, 75%, 85% and 90% LTV increased
Residential remortgage
• 2 Year Fixed Fee Saver at 80% and 85% LTV increased
• 2, 3 & 5 Year Fixed Standard at 60%, 70%, 75%, 80%, 85% and 90% LTV increased
• 3 Year Fixed Fee Saver at 60%, 70%, 75%, 80%, 85% and 90% LTV increased
• 5 Year Fixed Fee Saver at 60%, 70%, 75% and 90% LTV increased
• 10 Year Fixed Fee Saver at 60%, 70%, 75% and 80% LTV increased
• 10 Year Fixed Standard at 60%, 70%, 75% and 80% LTV increased
• 5 Year Fixed Premier Exclusive at 60%, 70%, 75%, 80%, 85% and 90% LTV increased
• 2 Year Term Tracker Standard at 60% LTV increased
Residential remortgage cashback
• 2 Year Fixed Fee Saver at 80% and 85% LTV increased
• 2 & 5 Year Fixed Standard at 60%, 70%, 75%, 80%, 85% and 90% LTV increased
• 5 Year Fixed Fee Saver at 60%, 70%, 75% and 90% LTV increased
International Residential
• 2 Year Fixed Fee Saver at 60% LTV increased
• 2 Year Fixed Standard at 60%, 65% and 75% LTV increased
• 3 & 5 Year Fixed Fee Saver at 60%, 70% and 75% LTV increased
• 3 & 5 Year Fixed Standard at 60%, 70% and 75% LTV increased
• 5 Year Fixed Premier Exclusive at 60%,70% and 75% LTV increased
• 10 Year Fixed Standard at 60%, 70% and 75% LTV increased
• 10 Year Fixed Fee Saver at 60%, 70% and 75% LTV increased
• 2 Year Term Tracker Standard at 60% LTV increased
Existing BTL customer switching / borrowing more
• 2 & 5 Year Fixed Fee Saver at 60%, 65% and 75% LTV increased
• 2 & 5 Year Fixed Standard at 60%, 65% and 75% LTV increased
BTL purchase / Remortgage
• 2 & 5 Year Fixed Fee Saver at 60%, 65% and 75% LTV increased
• 2 & 5 Year Fixed Standard at 60%, 65% and 75% LTV increased

[Sarnie]

Natwest now;

Dear Liam,
Effective 23rd February, we’re making changes to our New Business and Existing Customer product ranges, details of which are as follows:

New Business Rate Changes:
• Purchase: Rate increase of up to 15bps on selected 2 and 5 year deals.
• Remortgage: Rate increase of up to 15bps on selected 2 and 5 year deals.
• First time buyer: Rate increase of up to 15bps on selected 2 and 5 year deals.
• Shared equity – purchase: Rate increase of up to 10bps on selected 2 and 5 year deals.
• Help to buy shared equity – remortgage: Rate increase of up to 10bps on selected 2 and 5 year deals.
• Green – purchase: Rate increase of up to 10bps on selected 2 and 5 year deals.
• Green – remortgage: Rate increase of up to 10bps on selected 2 and 5 year deals.

Existing Customer Rate Changes:
• Switcher: Rate increase of up to 15bps and 20bps on selected 2 and 5 year deals.

[Chilly for June]

Virgin have just emailed me to say they are increasing from tonight

Selected 85%-90% LTV Purchase Exclusive fixed rates will be increased by up to 0.10%, with rates starting from 4.55%.
Selected 60% & 70% LTV Remortgage Exclusive fixed rates will be increased by up to 0.10%, with rates starting from 4.39%.
Exclusive BTL fixed rates will be increased by up to 0.10%, with rates starting from 3.97%.

Product Transfer
Selected residential 65% and 75% LTV 2, 3 & 5 year fixed rates will be increased by up to 0.10%, with rates starting from 4.17%.

[K50 DEL]

I've just completed my remortgage of 35% LTV at 3.99% fixed for 5 years.
I debated it a couple of weeks ago as I thought that rates might decrease - reading the last few posts I think I'm glad I went for it!!

[CaiosH]

Some reductions from Halifax tomorrow, expect them to be miniscule...

Halifax said:

Changes to our product range

On Friday 23 February we are making the following changes to our product range:

Homebuyer products including first time buyer, large loans, New Build and Affordable Housing – Shared Equity / Shared Ownership and the equivalent Green Home products

• Rates reduced on selected fixed rate products.

Remortgage products including Large Loans, Affordable Housing – Shared Equity/ Shared Ownership and equivalent Green Home products

• Rates reduced on selected fixed rate products

[dontfollowme]

Do Halifax reductions include product transfers?

[skinnyman]

First Direct currently the cheapest 5yr fix, 4.04% with £490 fees

[Caddyshack]

dontfollowme said:

Do Halifax reductions include product transfers?

I think they do but they are semi bespoke so you have to log in or get a broker to check them for what they are prepared to offer as opposed to published rates

[Sarnie]

dontfollowme said:

Do Halifax reductions include product transfers?

No, the bulletin only mentions new business rates.

[MrJuice]

skinnyman said:

First Direct currently the cheapest 5yr fix, 4.04% with £490 fees

Is this still the best broker guys?

I would like a fiver year fixed. LTV about 40%

Best options out there? I'm happy to change lender from current virgin to anyone who offers better terms

Thank you

[Caddyshack]

MrJuice said:

skinnyman said:

First Direct currently the cheapest 5yr fix, 4.04% with £490 fees

Is this still the best broker guys?

I would like a fiver year fixed. LTV about 40%

Best options out there? I'm happy to change lender from current virgin to anyone who offers better terms

Thank you

That would be a rare non broker deal (being First Direct) so it could be a bit painful listening to all their declarations and how long it might take, especially if a non FD customer.

It is as low as you are going to get though. You would need to check that it comes with FREE legal work and FREE valuation etc.

Lowest broker deals are 3.99% for GREEN mortgage or 4.09% non GREEN today.

[mwstewart]

MrJuice said:

skinnyman said:

First Direct currently the cheapest 5yr fix, 4.04% with £490 fees

Is this still the best broker guys?

I would like a fiver year fixed. LTV about 40%

Best options out there? I'm happy to change lender from current virgin to anyone who offers better terms

Thank you

Speak to sandwich on here, he's a broker.