5yr fixed rate mortgages
Discussion
Zippee said:
Whats the LTV on that and what are the best available with an LTV of 70-75%? Obviously depends upon how conservative the mortgage companies valuer is...
If I was to say apply for a 70% LTV, and the valuer comes back saying it will have to be 75% and therefore don’t qualify for the 70% LTV loans, would I still be liable for the fees associated with applying for the 70% loan in the first place?Edited by Zippee on Thursday 21st November 13:30
Also, what is the best 5 year fixed mortgage on offer at the moment for a 75% LTV?
Pole84 said:
If I was to say apply for a 70% LTV, and the valuer comes back saying it will have to be 75% and therefore don’t qualify for the 70% LTV loans, would I still be liable for the fees associated with applying for the 70% loan in the first place?
Also, what is the best 5 year fixed mortgage on offer at the moment for a 75% LTV?
I got 3.09% fixed for 5years for 75% LTV in June with Virgin money.Also, what is the best 5 year fixed mortgage on offer at the moment for a 75% LTV?
Pole84 said:
If I was to say apply for a 70% LTV, and the valuer comes back saying it will have to be 75% and therefore don’t qualify for the 70% LTV loans, would I still be liable for the fees associated with applying for the 70% loan in the first place?
Also, what is the best 5 year fixed mortgage on offer at the moment for a 75% LTV?
Define "best"?Also, what is the best 5 year fixed mortgage on offer at the moment for a 75% LTV?
I often get asked for "the best rate" but it quickly becomes evident that one persons best is not another persons. For example, you might say "I want the lowest rate with zero fees" the next person might say "I'm not bothered about fees added to the mortgage, I want the lowest rate/payment" and another person might say " I want the lowest rate that doesn't have any application fees but I'm ok with fees added to the mortgage"..........
Sarnie said:
Define "best"?
I often get asked for "the best rate" but it quickly becomes evident that one persons best is not another persons. For example, you might say "I want the lowest rate with zero fees" the next person might say "I'm not bothered about fees added to the mortgage, I want the lowest rate/payment" and another person might say " I want the lowest rate that doesn't have any application fees but I'm ok with fees added to the mortgage"..........
OK, lowest comparable APR (including fees) over a 5 year periodI often get asked for "the best rate" but it quickly becomes evident that one persons best is not another persons. For example, you might say "I want the lowest rate with zero fees" the next person might say "I'm not bothered about fees added to the mortgage, I want the lowest rate/payment" and another person might say " I want the lowest rate that doesn't have any application fees but I'm ok with fees added to the mortgage"..........
Thanks!
Pole84 said:
OK, lowest comparable APR (including fees) over a 5 year period
Thanks!
For that, I'd need to know the figures involved. It's impossible to evaluate the impact of rates and fees without knowing the balance involved. A smaller balance would most likely lean towards a lower fee product but if you have a £400k+ balance for example the rate becomes more relevant than the fees...Thanks!
PM me if you prefer?
To look at best deal you need to look at total to pay over 5 years, ie monthly payments and all fees.
You also need to consider lenders typical SVR as well, in case, for what ever reason you do not want to , or are not able to do another deal at end of 5 years.
In view of todays news re funding for lending now is looking like it will be the cheapest time there will ever be to fix.
You also need to consider lenders typical SVR as well, in case, for what ever reason you do not want to , or are not able to do another deal at end of 5 years.
In view of todays news re funding for lending now is looking like it will be the cheapest time there will ever be to fix.
Sarnie said:
tali1 said:
My own lender is offering 2.99% fix /4 yrs/no fees - makes it about £2pm worse than the 2.84% but avoids hassle of switching to new lender
Are you still looking at offsets?NandP had the 2.84% and they told me i was better off sticking with current lender.
tali1 said:
Offsets seem messy -i'm hot and cold on them.Don't like the higher % rate and i would rather use my savings as long term ISA in stocks /shares.I've got about 16 funds and am only down on one of them.
NandP had the 2.84% and they told me i was better off sticking with current lender.
Ok. Whats wrong with the 5yr 2.99% rate I've referred to in this thread?NandP had the 2.84% and they told me i was better off sticking with current lender.
Terminator X said:
If you can fix at that level the Banks must see low rates for some time yet!
TX.
The banks dont take the view its simply the market view reflected by the interbank swap rate which they use to hedge the loanTX.
5 year is currently at 1.67%, so you can see the banks can easily offer at <3%
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