Good mortgage rate

[Supernova190188]

Looking at buying our first house, had a mortgage offer come through from the bank, 5 year fixed rate is 2.49%, then 20 years at 4.19%. Overall apr is 3.6%. This is for a 10% deposit, how does this rate compare; is it a decent rate?

[Sarnie]

What are the fees?

[Welshbeef]

How much is a 10year fixed rate?

[Supernova190188]

No fees at all for this mortgage.

[Turn7]

We have just moved to a 5 year fix at 2.01% with Coventry Building Society.....

[Leroy902]

Turn7 said:

We have just moved to a 5 year fix at 2.01% with Coventry Building Society.....

Sounds like a cracking deal

[Welshbeef]

Leroy902 said:

Turn7 said:

We have just moved to a 5 year fix at 2.01% with Coventry Building Society.....

Sounds like a cracking deal

What are the fees?

[Cardinal Hips]

Pretty decent rate for a 10% deposit tbh. I'd take it. 2% seems to be about the bottom if you're fixing for 5 years unless you have a really good deposit or LTV.

[Turn7]

Welshbeef said:

What are the fees?

Zero

[kriswilson]

Sarnie from here just sorted me with a 5yr fixed at 1.99% with £999 fee so i’d say your deal is good

[Welshbeef]

kriswilson said:

Sarnie from here just sorted me with a 5yr fixed at 1.99% with £999 fee so i’d say your deal is good

That must be Pre the base rate rise?

[Chamon_Lee]

If i remember correctly I got 2.11% 5 year fixed exactly a year ago with no fees (larger deposit though)
I think what you got is fair for todays market.

[red_slr]

We are due to re mortgage in 12 months and I am hoping for IRO 2%.

Currently on 2.8% from 4 years ago...

[Sarnie]

red_slr said:

We are due to re mortgage in 12 months and I am hoping for IRO 2%.

Currently on 2.8% from 4 years ago...

I've done two, five year fixed rate remortgages today at 1.94%...............a lot can happen in 12 months though........fingers crossed!

[The Selfish Gene]

Sarnie said:

red_slr said:

We are due to re mortgage in 12 months and I am hoping for IRO 2%.

Currently on 2.8% from 4 years ago...

I've done two, five year fixed rate remortgages today at 1.94%...............a lot can happen in 12 months though........fingers crossed!

I can't remember mine exactly - done last November at about 1.79% I think, fixed for 5 (to help protect against Brexit in the middle of it)

Sarnie - I do have another property that is mortgaged on the sttest rate (over 4%) because I basically did one of those together loans when I was young (it was needed though)

I'm guessing the only advice is to pay off the loan element and then have a better LTV amount so I can mortgage it to a better rate.

Unless there some genius option you know about then it's all yours!

[Sarnie]

The Selfish Gene said:

I can't remember mine exactly - done last November at about 1.79% I think, fixed for 5 (to help protect against Brexit in the middle of it)

Sarnie - I do have another property that is mortgaged on the sttest rate (over 4%) because I basically did one of those together loans when I was young (it was needed though)

I'm guessing the only advice is to pay off the loan element and then have a better LTV amount so I can mortgage it to a better rate.

Unless there some genius option you know about then it's all yours!

You don't have to pay off the loan element of a Together loan, it's unsecured, so you can just remortgage the secured element........

[AML7]

Also a first time buyer. Got my rate locked in before the second BOE rate rise. 2.29% with no fees from nationwide with a 85% LTV. Also got £500 cashback after the first month.

[Welshbeef]

Jeez I’m paying 3.53% with 20-25% LTV feel like I’m being ripped off here - note not on any deal either FFS.

[kriswilson]

Welshbeef said:

That must be Pre the base rate rise?

Just completed on the 1st October

[Sarnie]

kriswilson said:

Just completed on the 1st October

...but the rate was secured early July, pre- base rate increase...........