Who's got the cheapest mortgage?

kennyboy66_2

!!!!!!? 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.

.

I think you are probably right, people forget that as the economy comes out of technical recession (-ve growth) that rates will go up.
However unemployment can still keep on rising for another 12 months after the economy has come out of recession (if that makes sense!). This is partly because the most productive staff are still left in employment.

Once the world does come out of recession, surely commodity prices will take off again - particularly oil.

michaels

I was screwed - all fees cost was 0.03 over base until our friends at hsbc took our money to fund their mortgage book (I'm talking the special liquidity scheme not the the equity injection) and decided to pad their profits following October's interest rate cut - special offer mortgage my !!!! - more like pull you in and rip you off with a product costing more than their standard tracker available at the same time.

(Not that I'm bitter or anything )

Realy

michaels wrote: »

I was screwed - all fees cost was 0.03 over base until our friends at hsbc took our money to fund their mortgage book (I'm talking the special liquidity scheme not the the equity injection) and decided to pad their profits following October's interest rate cut - special offer mortgage my !!!! - more like pull you in and rip you off with a product costing more than their standard tracker available at the same time.

(Not that I'm bitter or anything )

HSBC? do you mean HBOS-TSB ?

space_rider

jenner wrote: »

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

I`d be more than happy with that!

confused31_2

Ive got 2 years left on my fixed at 4.69, saying that i only pay 360 pound a month, and to be honest i could pay a lot more off than that, infact we could probably pay double easily, but you still have to live.

As for having a 10 year fixed at 4.99, i think thats a cracking deal with the way things are, you can not get anywhere near that now.

i think i will have to go for a 10 or maybe even a 5 year fixed deal in 2 years time, but hopefully it will be the last time i will need to get another mortgage.

confused

Gangstabird

I have a 10 year fix taken out with Nationwide late last year and it's at 5%. In fact if I hadn't paid the £500 to fix it that day it was taken off the market.

Previously had a fix at 6.3 with HSBC and lost £2200 over the 5 years.

I decided that I can't risk it and I am in profit at the moment regarding fixed deals.

The other thing is the mortgage to wages ratio; as and when I get pay rises I will put that away so that I am always paying that percentage if you know what I mean. This is the first time in my life that I can save a little each month. So hopefully in 9 years, any double figured interest rate will not actually impair me as I will have saved to that effect and hopefully gained the interest.

But as someone else said, you have to live too. I like to live.

Gangstabird

Confused if you go on Charcol online you can get 5.3 for 10 years (well you could the other day). That's not a bad deal either especially if you are not trying to get 5 times your salary.

confused31_2

Gangstabird wrote: »

Confused if you go on Charcol online you can get 5.3 for 10 years (well you could the other day). That's not a bad deal either especially if you are not trying to get 5 times your salary.

Nice one, but i dont need to renew mine for 2 years, so i dont know what the rates will be then.

sounds a good deal, hopefully it will be around when im looking.

confused

cogito

It's great to know that it's not all doom and gloom and that there are plenty of people about who got great deals in easier times. I do feel sorry for people who are paying rates well over base. Having been one of those who once had to pay nearly 15%, they have my sympathy.

Pobby

Good to see that so many of you have deals you are comfortable with. As some of you know we are mortgage free, which is just as well seeing how business has dropped. Even though I have a goodly amount in savings I say bring on lower interest rates if it will stop some of the awful things I witnessed in the last recession.