CBS Offering BTL fixed at 3.99 for 5 Years

FungusFighter

If you bought in Sept 2003 how come the 5 year deal is coming to an end on December 31st?

Lotus-eater

To get off topic for one second, I'm always amazed how much of a gamble with your own money, choosing and fixing mortgage rates are. I'm sure most people don't think that much about it when they take out a mortgage, yet it can be a massive gamble.

pickles110564

FungusFighter wrote: »

If you bought in Sept 2003 how come the 5 year deal is coming to an end on December 31st?

Fungus the 5 year deal is the new offer

FungusFighter

pickles110564 wrote: »

Fungus the 5 year deal is the new offer

But isn't that 5 years and 3 months or am I being dense?

(Never done this myself, I'm a lifetime tracker man myself)

chucky

probably 5 year ended in Sept, gone to SVR and the new one will start 31st Dec

FungusFighter

More like half a dozen remortgages

silvercar

Conventry had quite a few deals that ended at a year end, rather than being for XX years.

abaxas

pickles110564 wrote: »

ABAXAS i have given you what you want and you still not believe me i guess you are not a man at all and are blinded by the hate you feel for us LL's

No no no,

For years I've been an IT contractor, without LLs I would have the freedom of movement I currently enjoy.

However I do have a hatred of the 'scumlord'. Ie those who dont run they lettings as a business, mearly as a vanity portfolio.

Business is business, not a ego boosting dinner party chat device.

neverdespairgirl

pickles110564 wrote: »

there you go the 2nd page, I guess you lot have won anyway because I could not sleep as this has really upset me and been on my mind that you all did not believe me.

I beleived you. Makes sense to me that the Building Soc would want to fix so that they, as well as you, know where they are.

It also makes perfect sense that they are offering it to people such as you, with existing deals, and not to new BTL customers.

Cannon_Fodder

StevieJ wrote: »

Ironically the only person that believed you was !!!!!! and he thought you could do better.

As Pickles has, quite rightly and successfully, proven the point that this was not a wind-up post, that makes the original dilemma of "do I fix/or not" also genuine.

So, I don't quite see the irony that someone, taking the post as a genuine question, might answer in the light of expected further cuts.

In MSE terms, its perfectly valid to give "advice" of a practical, personal nature that takes advantage of market conditions, whilst at the same time remaining dubious of the effects in a wider economic debate.

Personally, I hope to buy cash, but if I push the boat out and need a 25% mortgage I shall pay the market rate at the time. I don't plan on offering to pay more than the going rate, just to salve my conscience and fit in with my personal opinion on Govt economic policies.


My own gut response would have been "don't fix, rates are set to drop, bide your time".

But that would be with 2006/7 mortgages deals in mind. If your own provider doesn't repeat the deal, will another provider accept you as "new" BTL (to them) ? How long until range of products recovers?

Maybe fixing would be sensible.