Mortgage advise
Discussion
Scotal !!Your call really - if you need the security of fixed.
I've just move to a tracker with HSBC which is 5.24%.
Given they're talking about 1% fall or more in the next 3 months you have to ask whether the possibility of 4.24% with some upside risk is more desirable than a 5.99 fixed.
Booking fee is £499.
ps. if you do want fixed then move fast. A lot of them are being pulled and revised at the moment.
I've just move to a tracker with HSBC which is 5.24%.
Given they're talking about 1% fall or more in the next 3 months you have to ask whether the possibility of 4.24% with some upside risk is more desirable than a 5.99 fixed.
Booking fee is £499.
Edited by Olf on Monday 20th October 15:48
ps. if you do want fixed then move fast. A lot of them are being pulled and revised at the moment.
Edited by Olf on Monday 20th October 15:48
Olf said:
Your call really - if you need the security of fixed.
I've just move to a tracker with HSBC which is 5.24%.
Given they're talking about 1% fall or more in the next 3 months you have to ask whether the possibility of 4.24% with some upside risk is more desirable than a 5.99 fixed.
Booking fee is £499.
my issue is i have become self employed since taking my mortgage out and Mrs T has only just started a new job so getting a mortgage elsewhere may be a pain in the ass. I've just move to a tracker with HSBC which is 5.24%.
Given they're talking about 1% fall or more in the next 3 months you have to ask whether the possibility of 4.24% with some upside risk is more desirable than a 5.99 fixed.
Booking fee is £499.
Edited by Olf on Monday 20th October 15:48
the new deal is pretty much what i'm paying now (i'm currently on a tracker)
bigTee said:
Olf said:
Your call really - if you need the security of fixed.
I've just move to a tracker with HSBC which is 5.24%.
Given they're talking about 1% fall or more in the next 3 months you have to ask whether the possibility of 4.24% with some upside risk is more desirable than a 5.99 fixed.
Booking fee is £499.
my issue is i have become self employed since taking my mortgage out and Mrs T has only just started a new job so getting a mortgage elsewhere may be a pain in the ass. I've just move to a tracker with HSBC which is 5.24%.
Given they're talking about 1% fall or more in the next 3 months you have to ask whether the possibility of 4.24% with some upside risk is more desirable than a 5.99 fixed.
Booking fee is £499.
Edited by Olf on Monday 20th October 15:48
the new deal is pretty much what i'm paying now (i'm currently on a tracker)
Olf said:
bigTee said:
Olf said:
Your call really - if you need the security of fixed.
I've just move to a tracker with HSBC which is 5.24%.
Given they're talking about 1% fall or more in the next 3 months you have to ask whether the possibility of 4.24% with some upside risk is more desirable than a 5.99 fixed.
Booking fee is £499.
my issue is i have become self employed since taking my mortgage out and Mrs T has only just started a new job so getting a mortgage elsewhere may be a pain in the ass. I've just move to a tracker with HSBC which is 5.24%.
Given they're talking about 1% fall or more in the next 3 months you have to ask whether the possibility of 4.24% with some upside risk is more desirable than a 5.99 fixed.
Booking fee is £499.
Edited by Olf on Monday 20th October 15:48
the new deal is pretty much what i'm paying now (i'm currently on a tracker)
Olf - tracker rates are stinking at the moment. I'm with Nationwide, and their 2 year tracker is 1.5% over base! Given their standard variable rate (which I'm about to go onto) is 6.19%, no point in locking myself into another deal.
Shall pay their standard variable, hopefully LIBOR will come down over the next year, and then will remortgage...
Shall pay their standard variable, hopefully LIBOR will come down over the next year, and then will remortgage...
There are cheaper long term fixed rates available and there are some pretty decent tracker rates around at the moment (especially at lower LTV <60%). However, deals are changing rapidly at the moment and some lenders are charging very high arrangement fees!
If you would like me to get some precise figures to you then pm me your basic mortgage details (outstanding balance, term, property value, etc) and I will have a look into it for you.
Cheers,
James
If you would like me to get some precise figures to you then pm me your basic mortgage details (outstanding balance, term, property value, etc) and I will have a look into it for you.
Cheers,
James
Harry Flashman said:
Olf - tracker rates are stinking at the moment. I'm with Nationwide, and their 2 year tracker is 1.5% over base! Given their standard variable rate (which I'm about to go onto) is 6.19%, no point in locking myself into another deal.
Shall pay their standard variable, hopefully LIBOR will come down over the next year, and then will remortgage...
This is not an unusual strategy at the moment, and its difficult to fault.Shall pay their standard variable, hopefully LIBOR will come down over the next year, and then will remortgage...
bigTee said:
my promotional rate is ending next month and have called provider to see what retention deals they have.
They have offered me 5.99 fixed for 10 years with £199 arrangment fee.
saves a huge ball buster to move. Is it a good deal? I haven't really looked anywhere else.
ta!
10 years is a bit long for most people, but it's nice to know you won't have to worry about it for a while. If you're planning to move in the short-term, be aware that although they may be happy for you to take the loan to a new property, they will only do so if you fulfill their criteria at the time.They have offered me 5.99 fixed for 10 years with £199 arrangment fee.
saves a huge ball buster to move. Is it a good deal? I haven't really looked anywhere else.
ta!
That said, you'll struggle to get a much better deal going elsewhere allowing for the employment situation. They surely have other options for you?
Edited by hamski on Monday 20th October 16:34
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