Which one is best for me?

matt9713

On paper this looks like a no-brainer, but having a limited knowledge of mortgages I thought I would run this through first. Me and my partner are looking for a mortgage, we have a 10% deposit and have spoke to 3 different brokers so far. Each have all come up with the following as the best deal for me:

Nationwide - 6.38% Interest Rate, 2 Year Tracker with £600 Set up Fee.

I've also spoke to HSBC independently, as I understand they do not go through a brokers, and they came up with:

HSBC - 6.2% Interest Rate, Lifetime Tracker (No redemption to come out at any stage) with no set up fee.

On paper, HSBC looks clearly the better way forward - is there anything I need to watch out for or should I proceed?

Thanks in anticipation

payless

Me and my partner are looking for a mortgage, we have a 10% deposit and have spoke to 3 different brokers so far. Each have all come up with the following as the best deal for me:

I assume you did not pay for advice/ research ... seems like brokers are just quoting broker deals whereas there may be better deals from both these and other lenders

matt9713

No I didn't pay for any advice with the brokers. Have you any other suggestions where to look at next, or would you suggest HSBC is probably my best bet considering what's currently open to me?

payless

sorry could not comment on whats suitable

You might want to look at those lenders websites for alternative products ( buts thats not to say other lenders aren't also better)

You could try one of the comparison sites ( suggest don't give any personal details though, as often these are sold on)

If unsure yourself you should try and find a broker that is willing to work on a fee only basis, ie he gets paid what you agree - but refunds any commission earned (or charges a fee for the research )