Kent Reliance Deal??

friar

Hi all,
Been offered a fixed low rate of 3.9% for 2 or 3 years on my variable rate mortgage,(Currently 7.4%)
Should I go for it,or will rates go down lower??

What do you think guys!!

forerunner_uk

Rates are likely to go lower I think.
However 3.99% seems like a pretty good deal - the best remortgage rate today is with the Woolwich at 3.99%.
How much is the fee? Woolwich will charge £995 - if its less than that you've got the best current deal in the UK.

Tiddler_2

I would snap there hands off (unless it has an extortionate arrangement fee)

Interesting that Kent Reliance are offering this deal to keep their existing customers, I called them 10 days ago to try and get a deal for a client, only to be told we are not doing any more mortgages for the next 3 months (I presume they meant for the rest of this year)

MarkyMarkD

They meant 3 months, from a date in (IIRC) early this month. So that's to around early February 2009 - not just to the end of this calendar year.

It was announced when they stopped lending in Jersey due to not being allowed a deposit-taking licence, which has restricted the amount of lending they can afford to do.

It's on Wikipedia if you care to look (referring to Jersey lending, but I understand that it applies to UK lending as well).

http://en.wikipedia.org/wiki/Kent_Reliance_Building_Society


Friar, are you sure that your current rate is 7.4%? Kent Reliance's SVR is 7.59% at the moment (although it's decreasing to 6.75% on 1 December). 7.4% would be a strange discount on that SVR!

Theo_Dillon

does anyone know how flexible is kent reliance building society about your credit to get a mortgage? i was suggested to take one from them by a mortgage adviser, but my credit isn't high (no missed payments or arrears, but no on-time payments either because i don't have any). is it worth trying or should i look for something else? this society doesn't do agreements in principle, you need to apply with all the documentation straight away........

_Andy_

Theo_Dillon wrote: »

does anyone know how flexible is kent reliance building society about your credit to get a mortgage? i was suggested to take one from them by a mortgage adviser, but my credit isn't high (no missed payments or arrears, but no on-time payments either because i don't have any). is it worth trying or should i look for something else? this society doesn't do agreements in principle, you need to apply with all the documentation straight away........

I'd assume spammers need self-cert?

friar

Thanks for all your comments.There is no arrangement fee,so will go ahead with haste.
:beer:
Thanks again.