mortages required

[IceBoy]

Could someone point me in the right direction and an opinon first of all:

Buy to let mortages - C&G seem to have the best rate at 5.49%, still seems expensive though, espcially with the interest rate so low ?!?!

Residential mortgage: is it best just to go onto the svr ? or a tracker at the moment ?

Any help or direction much appreciated.....Mine were fixed for 5 years and only have a few months to run.

BTL urgent though...run out 31st Dec.

IceBoy

[mk1fan]

Type of Mortgage that best suits you will depend on what you want to get out of it. What's most important to you? Borrowing at the cheapest rate; paying it off as quickly as possible; knowing what your monthly payments will be; or reducing your monthly out goings?

The most important facility I need in a mortgage is the ability to over pay easily.

I would say, though, at the moment if you have a good credit history then the choice of mortgages available is very good.

[IceBoy]

I guess I want the cheapest rate.

without any tie ins...

[mk1fan]

As long as you've got good history then I'd say you'll find what you're looking for. Unfortunately it means some doing some research. I'm sure someone will be along with a specific product recomendation soon.

Have you looked on moneysavingexpert.com yet?

[scotal]

IceBoy said:

I guess I want the cheapest rate.

without any tie ins...

They are really thin on the ground right now. If you want chepaest rate, you will be tied in, if you want no ties, you wont get cheapest rate.

YHM btw.

[Steve H]

Im with C&G on 2yr fixed at 4.5% due end of Dec, I have just had a letter to say that from 1/1/09 I will swap to SVR @ 4%!!! no fee, no tie ins! I think this is the best deal for a while but will watch the rates like a hawk

[scotal]

Steve H said:

Im with C&G on 2yr fixed at 4.5% due end of Dec, I have just had a letter to say that from 1/1/09 I will swap to SVR @ 4%!!! no fee, no tie ins! I think this is the best deal for a while but will watch the rates like a hawk

It is, and its very wise to keep an eye on the rates.
It'll be January before the lenders really want to ease.

[Ash 996 GT2]

IceBoy said:

I guess I want the cheapest rate.

without any tie ins...

Basically, you do not want anyone to make a profit out of you.

And then you will want to charge as much rental as you can so you make all the money.

Erm, good luck.

[Work-Shy-Wanabe]

Check out http://www.commercialcare.co.uk/

[Seany88]

scotal said:

Steve H said:

Im with C&G on 2yr fixed at 4.5% due end of Dec, I have just had a letter to say that from 1/1/09 I will swap to SVR @ 4%!!! no fee, no tie ins! I think this is the best deal for a while but will watch the rates like a hawk

It is, and its very wise to keep an eye on the rates.
It'll be January before the lenders really want to ease.

I'm with C&G too, 2yr fix 5.06% up in Feb. If the BofE cut rates again, are C&G etc likely to pass on the cut again? As that would save me a packet! Though is the general consensus that rates will start going up again mid-09? In which case I'll probably need to massively bump up my equity!

[scotal]

Seany88 said:

scotal said:

Steve H said:

Im with C&G on 2yr fixed at 4.5% due end of Dec, I have just had a letter to say that from 1/1/09 I will swap to SVR @ 4%!!! no fee, no tie ins! I think this is the best deal for a while but will watch the rates like a hawk

It is, and its very wise to keep an eye on the rates.
It'll be January before the lenders really want to ease.

I'm with C&G too, 2yr fix 5.06% up in Feb. If the BofE cut rates again, are C&G etc likely to pass on the cut again? As that would save me a packet! Though is the general consensus that rates will start going up again mid-09? In which case I'll probably need to massively bump up my equity!

C&G are Lloyds, they are under tremendous pressure to pass on rate cuts. HGowever look again in the early mid part of Jan and see how the lenders are reacting to the current base rate, the fixes on offer have a fair way to go yet, assuming (and that is a big assumption) that lenders will want to be competitive.

[scotal]

Work-Shy-Wanabe said:

Check out http://www.commercialcare.co.uk/

Do you know these guys?

[edc]

My fixed ran out at end of Sept and I nearly did a deal with scotal for a new fix just as the interest rates started to come down. Another letter to day and the SVR is now 3.99%. At the moment paying on the SVR has always been cheaper than on the fixed deal. Here's to another cut and my lender passing on the full lot, again!

[BJWoods]

IceBoy said:

Could someone point me in the right direction and an opinon first of all:

Buy to let mortages - C&G seem to have the best rate at 5.49%, still seems expensive though, espcially with the interest rate so low ?!?!

Residential mortgage: is it best just to go onto the svr ? or a tracker at the moment ?

Any help or direction much appreciated.....Mine were fixed for 5 years and only have a few months to run.

BTL urgent though...run out 31st Dec.

IceBoy

look at the smal print... the buy to let you have, you might be pleasantly surprised...

ie my 5.49 buy to lets fixed rate run out next August....

Reverting to +0.95 % above base (no collar)

very happy about that one.

B

[Work-Shy-Wanabe]

scotal said:

Work-Shy-Wanabe said:

Check out http://www.commercialcare.co.uk/

Do you know these guys?

Yeah, a good friend of mine. Let me know if you want his number?

[Seany88]

scotal said:

Seany88 said:

scotal said:

Steve H said:

Im with C&G on 2yr fixed at 4.5% due end of Dec, I have just had a letter to say that from 1/1/09 I will swap to SVR @ 4%!!! no fee, no tie ins! I think this is the best deal for a while but will watch the rates like a hawk

It is, and its very wise to keep an eye on the rates.
It'll be January before the lenders really want to ease.

I'm with C&G too, 2yr fix 5.06% up in Feb. If the BofE cut rates again, are C&G etc likely to pass on the cut again? As that would save me a packet! Though is the general consensus that rates will start going up again mid-09? In which case I'll probably need to massively bump up my equity!

C&G are Lloyds, they are under tremendous pressure to pass on rate cuts. HGowever look again in the early mid part of Jan and see how the lenders are reacting to the current base rate, the fixes on offer have a fair way to go yet, assuming (and that is a big assumption) that lenders will want to be competitive.

Alex what would you consider a reasonable fix in mid-jan? Around 4% mark or so? I'm quite young so don't know the general interest rate cycles but are rates likely to stay low for awhile due to 'deflation' or shoot up quite quickly (when/if inflation picks back up)?

I guess going for the safety of a fairly low fix is quite attractive but i'm thinking that unless I get one that is very close to the current SVR i'm paying then i'll stick on that until something drastic happens or a good deal comes up. Good idea?

[scotal]

Work-Shy-Wanabe said:

scotal said:

Work-Shy-Wanabe said:

Check out http://www.commercialcare.co.uk/

Do you know these guys?

Yeah, a good friend of mine. Let me know if you want his number?

Given what I do, no thanks, I'm curious about his site though.
Maybe its the commercial content as opposed to REsi lending, but getting a webiste with no contact details through compliance must have been interesting.

[scotal]

Seany88 said:

Alex what would you consider a reasonable fix in mid-jan? Around 4% mark or so? I'm quite young so don't know the general interest rate cycles but are rates likely to stay low for awhile due to 'deflation' or shoot up quite quickly (when/if inflation picks back up)?

I guess going for the safety of a fairly low fix is quite attractive but i'm thinking that unless I get one that is very close to the current SVR i'm paying then i'll stick on that until something drastic happens or a good deal comes up. Good idea?

We are in fairly unusual teritory at the moment, but I have a pile of queries on my desk regarding new fixed rates for clients (like edc above) who have come to the end of their incentive period, and for whom it currently makes more sense to stay on SVR.
The lenders are very nervous, and not a bit pissed off at the pressure they are under from Brown and Darling to pass on rate cuts. As soon as they see an opening to raise rates, they will. The big question is going to be finding something at or near the bottom for a large number of people.

Keep a very close eye on the deal available (Or I can if you like, drop me a line.) and accept that there is limited upside for you in terms of future rate cuts, but a hell of a lot of downside in inflation becomes the MPC's focus once again.

[Seany88]

scotal said:

Seany88 said:

Alex what would you consider a reasonable fix in mid-jan? Around 4% mark or so? I'm quite young so don't know the general interest rate cycles but are rates likely to stay low for awhile due to 'deflation' or shoot up quite quickly (when/if inflation picks back up)?

I guess going for the safety of a fairly low fix is quite attractive but i'm thinking that unless I get one that is very close to the current SVR i'm paying then i'll stick on that until something drastic happens or a good deal comes up. Good idea?

We are in fairly unusual teritory at the moment, but I have a pile of queries on my desk regarding new fixed rates for clients (like edc above) who have come to the end of their incentive period, and for whom it currently makes more sense to stay on SVR.
The lenders are very nervous, and not a bit pissed off at the pressure they are under from Brown and Darling to pass on rate cuts. As soon as they see an opening to raise rates, they will. The big question is going to be finding something at or near the bottom for a large number of people.

Keep a very close eye on the deal available (Or I can if you like, drop me a line.) and accept that there is limited upside for you in terms of future rate cuts, but a hell of a lot of downside in inflation becomes the MPC's focus once again.

Alex YHM thanks.

[Work-Shy-Wanabe]

scotal said:

Work-Shy-Wanabe said:

scotal said:

Work-Shy-Wanabe said:

Check out http://www.commercialcare.co.uk/

Do you know these guys?

Yeah, a good friend of mine. Let me know if you want his number?

Given what I do, no thanks, I'm curious about his site though.
Maybe its the commercial content as opposed to REsi lending, but getting a webiste with no contact details through compliance must have been interesting.

Websites been redone now ;-)

Commercial Mortgages

Edited by Work-Shy-Wanabe on Monday 15th December 22:30