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  • FIRST POST
    qopyekch
    What are the best fixed rates ever?
    • #1
    • 12th Apr 10, 10:06 AM
    What are the best fixed rates ever? 12th Apr 10 at 10:06 AM
    Hi all,

    The base rate is at a record low of 0.5% and it looks as though it may start going up at some point after the election in late 2010 or 2011. This is already being factored in to the swap rates that fixed rate mortgages tend to rely on. Therefore it occurred to me that we may already have passed the point where the "best ever" fixed rate mortgages have been offered?

    I got my mortgage in July 2009 and the deal was as follows:
    HSBC, 5 year fixed, 4.24%, £1199 fee, £100000 loan, LTV 38%

    I've continued to monitor the 5 year fixed rates since getting this mortgage and not found anything better since. So I guess I'm throwing down the gauntlet! Has anyone got a better deal? It would also be interesting to find the best 2 and 3 year fixed deals.

    I think I've included the salient details above, so if you have a contender, perhaps you could include the same? It'll be hard to produce a definitive 'winner' as, for example, a lower rate with a higher fee could be better over the deal period if you have a larger loan amount. Might be fun to try to get a list of best-ever buys though? We might even be able to work out the best AERs if we have the details above.

    Let the competition commence!
Page 1
  • peteb23
    • #2
    • 12th Apr 10, 11:46 AM
    • #2
    • 12th Apr 10, 11:46 AM
    Alliance and Leicester had a 5 year fix for 3.99% last year - I missed it

    http://forums.moneysavingexpert.com/showthread.html?t=1578999&highlight=alliance+99
    • Gorgeous George
    • By Gorgeous George 12th Apr 10, 11:56 AM
    • 7,806 Posts
    • 8,483 Thanks
    Gorgeous George
    • #3
    • 12th Apr 10, 11:56 AM
    • #3
    • 12th Apr 10, 11:56 AM
    What about arrangement fees etc.,? These could make a considerable difference. For a £100K mortgage I could offer 0% - but the arrangement fee would be £101K .

    GG
    There are 10 types of people in this world. Those who understand binary and those that don't.
    • captainhaggis
    • By captainhaggis 12th Apr 10, 11:58 AM
    • 6,075 Posts
    • 11,981 Thanks
    captainhaggis
    • #4
    • 12th Apr 10, 11:58 AM
    • #4
    • 12th Apr 10, 11:58 AM
    I just 'renewed' my fixed deal with LTSB/C&G at 3.99 for 2 years.....
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
    • michaels
    • By michaels 12th Apr 10, 12:02 PM
    • 19,757 Posts
    • 90,264 Thanks
    michaels
    • #5
    • 12th Apr 10, 12:02 PM
    • #5
    • 12th Apr 10, 12:02 PM
    HSBC are offering a 2 year fix at 2.99 - am torn between this and a 2 year discount at 1.99, both with 1k fee but over 2 years with a large mortgage this adds in effect about 0.2% to the rate. Who can predict both base rate and svr margin over 2 years...
    Cool heads and compromise
  • qopyekch
    • #6
    • 12th Apr 10, 12:52 PM
    • #6
    • 12th Apr 10, 12:52 PM
    Alliance and Leicester had a 5 year fix for 3.99% last year - I missed it
    Originally posted by peteb23
    Amazing - surely that won't be beaten. I just missed out on that by a couple of months. I wonder how many people secured it before the offer ran out.

    What about arrangement fees etc.,? These could make a considerable difference. For a £100K mortgage I could offer 0% - but the arrangement fee would be £101K .

    GG
    Originally posted by Gorgeous George
    Agreed - as I mentioned in my post this would make comparisons harder. In any scenario though you could work out the total fees + interest paid and pro-rate it according to the amount borrowed for comparison. In my case it comes to £20,468.59 over 5 years.
  • RufusA
    • #7
    • 12th Apr 10, 3:57 PM
    • #7
    • 12th Apr 10, 3:57 PM
    Alliance and Leicester had a 5 year fix for 3.99% last year - I missed it
    Originally posted by peteb23
    Me too, but did manage to bag the 4.15% Post office one with the £599 arrangement fee in April '09.

    Rufus.
  • qopyekch
    • #8
    • 8th Jun 10, 8:47 AM
    • #8
    • 8th Jun 10, 8:47 AM
    It looks like mortgage rates might be on their way down again after all. Co-op and Britannia have launched a new 5-year fixed rate of 3.99% with £999 fee for 75% LTV. This site won't let me post the link, but it's easy enough to Google it.
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