Anyone had a good fixed rate mortgage deal recently?
Discussion
We may be moving shortly so I will be on the look out. The money comparison sites seem to be expensive IMO. Ideally I am looking for a fixed rate for circa 5 years at least.
Can anyone recommend anyone as I dont want half a dozen credit checks on my file until I find a good one.
Cheers Retro
Can anyone recommend anyone as I dont want half a dozen credit checks on my file until I find a good one.
Cheers Retro
We've just come out of our fixed rate onto a variable. Our mortgage has gone down nearly £300 a month and the base rate would have to go up to 4 odd percent until we are paying what we were, which won't happen for at least a year, so I'm happy to let it roll on as it is and sort it out next summer.
It all depends on your equity/LTV as to what rate you will get, but for a 5 year fixed the going rate seems to be around 4.5% upwards. The best deals to be had are on 2 year deals but I begrudge fronting £1000 setup fees every other year to get a marginally better rate.
It all depends on your equity/LTV as to what rate you will get, but for a 5 year fixed the going rate seems to be around 4.5% upwards. The best deals to be had are on 2 year deals but I begrudge fronting £1000 setup fees every other year to get a marginally better rate.
5 year fixes have not really dropped in line with the lowered base rate. (Which perhaps tells you something about how the lenders view the market, or how much they intend taking out of the borrowers over the next few years.
A couple of firms dropped their rates today, but until we know what sort of LTV you are looking at, then giving an accurate idea of rate is impossible.
A couple of firms dropped their rates today, but until we know what sort of LTV you are looking at, then giving an accurate idea of rate is impossible.
scotal said:
5 year fixes have not really dropped in line with the lowered base rate. (Which perhaps tells you something about how the lenders view the market, or how much they intend taking out of the borrowers over the next few years.
A couple of firms dropped their rates today, but until we know what sort of LTV you are looking at, then giving an accurate idea of rate is impossible.
I suggest the latter, have you seen where 5 yr swaps are at? It's not 5% let me give you a clue.A couple of firms dropped their rates today, but until we know what sort of LTV you are looking at, then giving an accurate idea of rate is impossible.
allgonepetetong said:
scotal said:
5 year fixes have not really dropped in line with the lowered base rate. (Which perhaps tells you something about how the lenders view the market, or how much they intend taking out of the borrowers over the next few years.
A couple of firms dropped their rates today, but until we know what sort of LTV you are looking at, then giving an accurate idea of rate is impossible.
I suggest the latter, have you seen where 5 yr swaps are at? It's not 5% let me give you a clue.A couple of firms dropped their rates today, but until we know what sort of LTV you are looking at, then giving an accurate idea of rate is impossible.
BTW RT, the mortgage market is as ever fickle, so unless you have already started looking, or have found somewhere, and have your current place ready to go on the market, trying to guess your mortgage rate is not going to be a lot of help to you. You can't secure a mortgage rate with an agreement in principle so you'd be better off waiting until you are virtually ready to go before you start thinking about credit checks.
In short, who knows what the new year will bring from the lenders. There are signs of more competition between them, but that may well disappear as soon as it arrives.
allgonepetetong said:
I suggest the latter, have you seen where 5 yr swaps are at? It's not 5% let me give you a clue.
A question if I may, this is something I know little about.How much reliance can be placed on Swap rates? A quick google tells me 5yr are about 3.04% and 10yr are 3.78%. Is this the markets "best guess" at what BOE base rate will be in 5/10years?
Road Pest said:
RetroTed said:
Would I be better going on a fixed rate now or waiting for 2 yars and benefiting from lower payments now??
That's going to depend on your whole situation, in particular affordability.Gonna have to sell my car though
Were in a similar situation. We saw the bank a couple of weeks ago as our 5 year fixed rate ends in Feb next year. The mortgage will just transfer to a variable and we will be £180 a month better off but we are going to keep paying the same amount to get the mortgage down.
But she did say that it was felt the low base rate would be there for approx 12 months and we would have to keep an eye on it. Plus when the rates start to go up you need to make sure you get in preety damm quick !!!
But she did say that it was felt the low base rate would be there for approx 12 months and we would have to keep an eye on it. Plus when the rates start to go up you need to make sure you get in preety damm quick !!!
lewes said:
Were in a similar situation. We saw the bank a couple of weeks ago as our 5 year fixed rate ends in Feb next year. The mortgage will just transfer to a variable and we will be £180 a month better off but we are going to keep paying the same amount to get the mortgage down.
But she did say that it was felt the low base rate would be there for approx 12 months and we would have to keep an eye on it. Plus when the rates start to go up you need to make sure you get in preety damm quick !!!
This is the problem. TBH I think getting a fixed now while they are available might be the way forward. Where's a crystal ball when you need one But she did say that it was felt the low base rate would be there for approx 12 months and we would have to keep an eye on it. Plus when the rates start to go up you need to make sure you get in preety damm quick !!!
We are just going through moving from a tracker (Mortgage Express/Bradford & Bingley) (deal ends in January) to a fixed with Woolwich. I'm pretty sure the rate is fixed at 3.8% for two years, and our LTV was about 65%. We had a look around on the usual comparison websites, but we got this deal via our financial advisor who has helped us in the past.
Arese said:
We are just going through moving from a tracker (Mortgage Express/Bradford & Bingley) (deal ends in January) to a fixed with Woolwich. I'm pretty sure the rate is fixed at 3.8% for two years, and our LTV was about 65%. We had a look around on the usual comparison websites, but we got this deal via our financial advisor who has helped us in the past.
3.89% , £199 fee?scotal said:
Arese said:
We are just going through moving from a tracker (Mortgage Express/Bradford & Bingley) (deal ends in January) to a fixed with Woolwich. I'm pretty sure the rate is fixed at 3.8% for two years, and our LTV was about 65%. We had a look around on the usual comparison websites, but we got this deal via our financial advisor who has helped us in the past.
3.89% , £199 fee?We had the offer early last week, just want to get our hands on the readies now!
Arese said:
scotal said:
Arese said:
We are just going through moving from a tracker (Mortgage Express/Bradford & Bingley) (deal ends in January) to a fixed with Woolwich. I'm pretty sure the rate is fixed at 3.8% for two years, and our LTV was about 65%. We had a look around on the usual comparison websites, but we got this deal via our financial advisor who has helped us in the past.
3.89% , £199 fee?We had the offer early last week, just want to get our hands on the readies now!
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