newbie advise needed plz!! Ty

new2this_2

Hi me and my partner are about to purchase our first property and well its all a bit daunting sooooo many options open!! We are putting 5% down on a £117,000 property over 30 yrs on repayment basis with a fixed rate of 5.35% untill 1 March 2008....were going with the cheltenham & Gloucester does this seem reasonable? fees are - arrangement fee £1635, processing fee of £265.00 redemption admin fee of £125 and a telegraphic transfer fee £45. Appreciate any advise there is out there


Thanks :beer:

tomstickland

Do some internet searching for best rates. Someone on here mentioned a fee-free company, London and Counties or something like that. I'll find the link.

tomstickland

Here's the quote from the other post:

London and Country don't charge any fees. They make their money by getting a commission from the lender, but this doesn't affect the deal you get. The lenders are willing to pay them a commission because of the sheer volume of business they put their way.

But don't confuse the broker's fee with mortgage fees, which Sarah has listed in her posts, and which you'll pay directly to the mortgage company when L & C have found you the best deal. 'No fee' broker means that you don't pay fees for the service the broker provides, ie looking around the market for the best deal on your behalf.

new2this_2

thanks will do a search see what i find :-)

MortgageGenie

new2this wrote:

Hi me and my partner are about to purchase our first property and well its all a bit daunting sooooo many options open!! We are putting 5% down on a £117,000 property over 30 yrs on repayment basis with a fixed rate of 5.35% untill 1 March 2008....were going with the cheltenham & Gloucester does this seem reasonable? fees are - arrangement fee £1635, processing fee of £265.00 redemption admin fee of £125 and a telegraphic transfer fee £45. Appreciate any advise there is out there


Thanks :beer:

Hi new2this,

Are you sure it's 5.35% with C&G? The rate and fees you've mentioned don't seem tie up.

You should definately speak to a broker as there are lots of other fixed which will offer much better value.

HTH