New 0.99% mortgage, but is now the time?

Former_MSE_Faye · 29 June 2016 at 12:42PM

You can slash your EXISTING mortgage costs by £1,000s with the cheapest-ever 2-year-fix remortgage launched, at 0.99%...

Read the full story:
' New 0.99% mortgage, but is now the time?'

Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.

Pincher · 29 June 2016 at 3:39PM

The funkiest is 1.99% fixed for five years, Maximum Loan £5million.

Borrow £5million pounds from HSBC, buy HSBC shares that pays ~8% dividend, which I use to pay the 1.99% interest, plus principal. Do that for five years. Clear 5% of £5 million, which is £250,000 a year. At the end of five years, some principal is repaid, and the shares have gone from £4.50 to £8, so make another £4million.

Must say my dreams give me more pleasure than anything reality has to offer.

SLZ · 29 June 2016 at 7:46PM

65% LTV, double the usual booking fee and maximum mortgage is £500k. Doesn't seem to be of much use if buying within London.

New 0.99% mortgage, but is now the time?

Comments

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Categories

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free