Post Office mortgages

[fido]

I'm thinking of going for one of these as the rates look tasty but can't choose between the £1495 fee and Zero fee. They look identical other than the 25 basis point difference. Just wondering if a PH'er has taken one of them and why you wouldn't go for the Zero fee option (unless you are going for a two-directorship PCP_a_GT3 >£300k mortgage)? Apologies, if I have broken some 'advertisement' rule - it wasn't my intention and I have nothing but loathing for the Post Office generally (spend enough time queuing at their Moorgate branch) ..

[TartanPaint]

Compare the cost of the two options side by side using this sheet:

http://locostfireblade.co.uk/spreadsheet/Index.htm...

[fido]

Thanks - I forgot about a possible closure fee (what a ripoff?). Will investigate.

[Sarnie]

fido said:

I'm thinking of going for one of these as the rates look tasty but can't choose between the £1495 fee and Zero fee. They look identical other than the 25 basis point difference. Just wondering if a PH'er has taken one of them and why you wouldn't go for the Zero fee option (unless you are going for a two-directorship PCP_a_GT3 >£300k mortgage)? Apologies, if I have broken some 'advertisement' rule - it wasn't my intention and I have nothing but loathing for the Post Office generally (spend enough time queuing at their Moorgate branch) ..

It's impossible to give you the answers without the numbers involved.........

[fido]

Pfft - hate posting numbers. Okay it's a relatively small mortgage (Let's say 15% on £1.2m) which will cover the purchase and a few mods to make it liveable/comfortable. I am planning to work abroad next year and just need a cheap short-term mortgage to last me the next year or so until I sort out my finances. Sister/friend will be staying in the property until I get back so won't be getting any rent from it.

[Sarnie]

fido said:

Pfft - hate posting numbers. Okay it's a relatively small mortgage (Let's say 15% on £1.2m) which will cover the purchase and a few mods to make it liveable/comfortable. I am planning to work abroad next year and just need a cheap short-term mortgage to last me the next year or so until I sort out my finances. Sister/friend will be staying in the property until I get back so won't be getting any rent from it.

Need;

- Mortgage balance
- The rate of each product
- The length of the product
- The term of the mortgage

For reference, information that won't help your application;

- I am planning to work abroad next year
- just need a cheap short-term mortgage to last me the next year or so until I sort out my finances
- Sister/friend will be staying in the property until I get back so won't be getting any rent from it

[TartanPaint]