50% Mortgage

davidscot

Our home is worth £150-160k and we have a mortgage of £76k. Our fixed rate deal ends Nov so now is the time to sort a new mortgage out.
Anyone know of any good 50% mortgage deals going about,currently with Nationwide, but willing to move for the best deal.

minimike2

Well it depends on what type of mortgatge you are after.

Do you want to fix again? If so for how long? Any plans to pay extra off?

Will assume you fit prime lender criteria as currently at Nationwide...no bad credit since you took it out / income hasnt dropped?

davidscot

minimike2 wrote: »

Well it depends on what type of mortgatge you are after.

Do you want to fix again? If so for how long? Any plans to pay extra off?

Will assume you fit prime lender criteria as currently at Nationwide...no bad credit since you took it out / income hasnt dropped?

Probably a fixed rate again so that we know exactly how much we pay each month, but if a good variable deal came up then would check it out. Would like a slightly longer deal than our current 3yr one.
Fit all critera for prime lender, no bad credit issues and income is steady.

minimike2

Have Nationwide offered you a new deal? Think you may be best sticking with them....thye have a 6.18% 5 yr fxied, £599 fee....you might want to ask if they can do that being an exisitng customer (or better it!).

They also have a lifetime tracker ay 0.98 over base with no fee.


I think a call to them is in order to see what they are willing to offer.

*edit* looking at your dates you may need to wait for an offer of a new deal from them until next month - you can only book a rate with them for three months before you need it. whats the actual end date of your current product?

davidscot

Deal ends Nov this year. Was going to give them a call just to see what was on offer for existing customers, but is it still a little early?

_Andy_

David - save yourself the price of a phone call, they're on the website

http://www.nationwide.co.uk/mortgage/existingcustomers/intro.htm

davidscot

Had a quick look Andy, some of the deals look ok but still going to have browse around other lenders.
When the time comes might haggle a little with Nationwide see what they come up with:rolleyes:

_Andy_

davidscot wrote: »

Had a quick look Andy, some of the deals look ok but still going to have browse around other lenders.
When the time comes might haggle a little with Nationwide see what they come up with:rolleyes:

They won't haggle (unintentionally being Python-esque)- to be fair they have pretty decent products (e.g. no fees) to existing clients.
Hopefully we may see more fixed rate reductions across the market soon.

Gloster_Advise

davidscot

personally i haggled with C&G about 3 months back, i wasn't with them at the time. they reduced my arr fee by £500 to get the business.

whether or not you are looking early is not for me to say but do you really have all this time to scour all lenders to find the best deal yourself? I think not unless you are unemployed, self employed with little work or an insomniac.

Jonbvn

Generally speaking, on such a relatively small mortgage I cannot see the rationale for going onto another fixed rate, since the fees will generally far outweigh any other benefits you may gain.

I am sorry but I think some "advisers" may be getting rather desperate......

minimike2

LOL @ Jonbvn

£76k isnt a "Small" mortgage as you put it. Thats about my average case case.

The five year fixed rate with Nationwide has no fee for existing customers. Even if it did at £599 to secure your rate for five years, its worth it, IF you need stability and security in your outgoings.

Some people NEED to know what thier mortgage payment is going to be without the worry that it could increase, which could cause financial difficulties.

You might not like fixed rates, it doesnt make you an expert in the field does it.

Lets hear what you have based your nonsense spouting on please......

posts like yours make me pretty angry.