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Is 3.99% 5 year fix the lowest it will go ??
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cbrpaul
Posts: 756 Forumite
I know no-one has a crystal ball ,
But in our office we are all split 50/50 on this one
Personally i cant see a long term 5 year ( 65% ltv say ) fix going below the 3.99% mark ( with a reasonable admin fee )
Im convinced the low BoE rate is a temporary thing and feel rates will need rise steadily towards the end of this/begining of next year , mainly due to inflation and a recovery needed !!!
There are some who say low rates can be a bad thing and merely slow down the recovery rate due to savings and exports etc,,,,, !!
your thoughts ???
But in our office we are all split 50/50 on this one
Personally i cant see a long term 5 year ( 65% ltv say ) fix going below the 3.99% mark ( with a reasonable admin fee )
Im convinced the low BoE rate is a temporary thing and feel rates will need rise steadily towards the end of this/begining of next year , mainly due to inflation and a recovery needed !!!
There are some who say low rates can be a bad thing and merely slow down the recovery rate due to savings and exports etc,,,,, !!
your thoughts ???
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Comments
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wooow now thats some prediction alzar0
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I am a Mortgage adviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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All depends on whether savers will accept a sub 2.5% return on savings for a long period. Unless inflation looks very unlikely to ever return I think that is unlikely.
Investors/Savers will look at better returns on their investment. Banks and building societies will have to pay more than 2.5% to attract funds and therefore wont be able to lend it at much below 4% and still make enough margin to cover costs and bad debts.
R.Smile
, it makes people wonder what you have been up to.0 -
True, and the booking fee is £995 which I suppose is not too extortionate compared to some. It's only available for up to 60% LTV, though.0
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If you are all split 50 50 then you can't even agree with yourself. I think it might but then again perhaps not. My wife disagrees because she says I am always wrong. So she says the opposite of what I say. She says it might not then again it might. I think perhaps she is wrong this time but I am not sure................................I have put my clock back....... Kcolc ym0
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yes admin fees !! :rolleyes:
£1000 is alot of dosh , a holiday , a new car etc etc, for many !!!
take the AandL deal , 3.99% no fees, Abbey 3.95% £1000 fee , come on thats not rocket sicience which one is far the better deal !!
I agree with rafters , banks are not going to commit to a long term fix at a rate much lower than 3.99% , is my feeling0 -
Just jumped from the abbey mortgage deal to the A&L deal at 3.95% and no fees. i cant see it getting much better than that, although saying that i thought the Chelsea at 4.15% was good in february!!Listen to what people say, but watch what people what people do!!0
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I really dont think it will go lower than 3.99% , it might ( a big might) at most go to 3.7% but still with fees at £1000+ i feel !!
A+L is 3.99% 5 year fixed , £0 fees
however :
£30 bank transfer fee and a £25 admin if you decline their insurance !!
£300 " approx" valuation fee upfront , returned if application successful!!!
rate not guaranteed until you paid your valuation fee !!
As long as your at least 65% ltv your in !!!
I have their KFI,s infront of me now !!!:D0 -
ok cbrpaul,
To summarise...
If you dont take their insurance they sting you 50 quid.
£300 valuation fee, returned if susscessful - does that mean you pay the £300 and they return it to you via cheque or knock the £300 of the mortgage?
i
cheers
Its only £25 for insurance decline not £50
the refund of valuation I believe is either a cheque or its credited to your premier account that you must also open up with them , this is where your mortgage DD will come out of , you dont have to change banks , just deposit at least £500 every month into the A+L account this can be your amount of mortgage of course0
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