Who's got the cheapest mortgage?

WTF?_2

cogito wrote: »

Could it be me? A Woolwich lifetime tracker which I took out last year. No fees and just 0.39% over base.

As I've usually managed to get my timing wrong in the past, I'm feeling pretty chuffed at the moment (and probably even more chuffed after tomorrow's rate cut).

Sorry.

Well done - a canny decision. But you might want to consider shopping around for cheap fixes of five years or longer in a year or two's time.

Dan:_4

!!!!!!? wrote: »

Well done - a canny decision. But you might want to consider shopping around for cheap fixes of five years or longer in a year or two's time.

Whats happening in two years time !!!!!!?

WTF?_2

Dan: wrote: »

Whats happening in two years time !!!!!!?

I don't think rates are going to stay low in the mid to longer term, though they will deffo go down in the short term.

There will almost certainly have to be a rate hiking at some stage, I reckon maybe within two years.

The OP would do well to keep his ear to the ground on financial news and pick the moment to lock in a cheap rate.

In the meantime overpay, overpay, overpay.

Old_Git

cogito wrote: »

Could it be me? A Woolwich lifetime tracker which I took out last year. No fees and just 0.39% over base.



Sorry.

mine is 0.18% above base rate ,current 4.68% .Currently paying a masive £217 per month .:D
overpay now when I can .

puddy

mines a 10 year fixed at 4.99,, im 2 years in this xmas, but it has huge redemption fees within the 10 years.

Dan:_4

!!!!!!? wrote: »

I don't think rates are going to stay low in the mid to longer term, though they will deffo go down in the short term.

There will almost certainly have to be a rate hiking at some stage, I reckon maybe within two years.

The OP would do well to keep his ear to the ground on financial news and pick the moment to lock in a cheap rate.

In the meantime overpay, overpay, overpay.

I think rates might stay low for longer then that. Rates will not rise until the economy is in better shape and the threat of recession is behind us. If that is in two years however, im not complaining.

ldavies_3

Just completed on BTL mortgage with Bham Midshires on 3 year tracker.. .50% above base...

Its a better rate than my main mortgage which is up for renewal on Feb 1st..

Any idea where the rates might be by then?

ldavies_3

Before im flamed for having a BTL though, it used to be our main residence until my mum died and we moved in to my childhood home... ( she was far from mortgage / debt free with not a bean in protection, but thats another story).

StevieJ

Dan: wrote: »

I think rates might stay low for longer then that. Rates will not rise until the economy is in better shape and the threat of recession is behind us. If that is in two years however, im not complaining.

Leave him alone he is a little confused, he thinks the recession is going to last 3 years and they are going to raise interest rates in the middle of the recession.

WTF?_2

Just remember that rates aren't something that can be set according to a whim.

Setting them too low has consequences down the line which may necessitate rises irrespective of whether you want to raise them or not .... and they have been considerably too low for too long.