Whats The Best Fixed Rate Mortgage On The Market At The Moment??

katew87

Hi

I want to get a 2/3 yr fixed rate mortgage Ive a 60k deposit & Ive put an offer on a 210k house, Does anyone know who has the best rate at the moment?!

Thanks in advance:o

Kate x

swingjune

We got 5.64% fixed for 3 years on LTV 55% from Halifax.

katew87

Thats a really good rate, any idea what my LTV is, Ive worked it out at 70%, thats if Ive done it right??

herbiesjp

The LTV = mortgage amount divided by the property value

So (£150k/£210k)*100 = 71.4%

Rates will depend on what associated fees you want to pay as well so could range from mid 5% upwards

Also make sure the deals offer the flexibility you are looking for

GOLFER

Why dont you use one of these mortgage coparisin sites and see what rates come up for your circumstances.

Also another good option would be to seek an IFA to do all the work for you. Most of them work off commisions from the providors so wont cost you anything

Good Luck

Golfer

swingjune

Here is the fixed rates from Halifax :
For 2 yrs - https://www.halifax.co.uk/mortgages/2yrfixedspecial.asp
For 3 yrs - https://www.halifax.co.uk/mortgages/3yearfixed.asp

Some FAs do charge a fee of up to 290 pounds for processing your application.

We went to Halifax directly. :T:j

Remember to put aside the stamp duty/legal/search costs when deciding on your borrowing.

herbiesjp

swingjune wrote: »

Here is the fixed rates from Halifax :
For 2 yrs - https://www.halifax.co.uk/mortgages/2yrfixedspecial.asp
For 3 yrs - https://www.halifax.co.uk/mortgages/3yearfixed.asp

Some FAs do charge a fee of up to 290 pounds for processing your application.

We went to Halifax directly. :T:j

Remember to put aside the stamp duty/legal/search costs when deciding on your borrowing.

Please be careful to look at the arrangement fees

Are there no other rates out there?

swingjune

herbiesjp wrote: »

Please be careful to look at the arrangement fees

Are there no other rates out there?

Some banks charge higher interest rate with lower fees.

It depends very much on your circumstances, everyone is different.

To us, this is the best deal.

herbiesjp

swingjune wrote: »

Some banks charge higher interest rate with lower fees.

It depends very much on your circumstances, everyone is different.

To us, this is the best deal.

That is exactly my point - for you it is the best deal

Whilst your post is well intentioned - rather than posting links to specific Halifax products, I think it would be wiser to post a link to a comparison website

The OP may go straight ahead and apply to Halifax, but it could turn out to be not the most suitable deal or what the OP was looking for.

Please don't take this as me having a go, it's just that buying a property is a huge expense, and making the right choices are very important. And not making the right choices could cost you money or your home.

Going direct to a lender also means not having any consumer protection in terms of the mortgage sold - so if something goes wrong, it is all on your shoulders. So again, whilst it may be ok for some, others will like the fact they don't have to do anything and the broker will take care of it.

There are plenty fee free advisers, that offer the service, if paying a broker fee is not for you

firesidemaid

have a look at first direct, especially if you would be interested in offsetting also - some good deals on there x

hyposmurf

The best way I found was to tabulate all the offers I looked at.With columns showing the rate,fees,contact details,how much they would lend etc.Other things to look at are can you make overpayments & is there an exit fee