100% fixed rate

MORPH3US

Hi everyone,

Myself and the girlfriend are having to apply for a 100% mortgage because we hate renting and think we'll be ok with a 100% mortgage and make overpayments to pull it back!

We have been offered a 5.19% fixed rate by a bank and when we saw the mortgage broker all he could offer us was Northern Rock on 5.8% (i think).

He said that he didn't have anything that could match HSBC and that we should go for that one even though he had nothing to gain by telling us that.

Is he right, is 5.19 fixed a good rate for a 100% mortgage!??!

Cheers

M

MORPH3US

Anyone got any ideas?

Ian_W

Hi MORPH,
According to the moneyfacts best buy tables HERE Cheshire BS have a 100% 3 yr fixed at 4.83% which might be worth checking out. Otherwise the HSBC deal looks as good as it gets.

HTH & BoL.

AndrewSmith

HSBC is a cracking deal and the underwriting is not as harsh as many others.

Andy

_Andy_

I'm guessing one of you are recent graduates?
Bear in mind that HSBC dropped the rate from 5.39 to 5.19 as part of our January sale campaign, and I would suspect the rate will increase in mid-late Feb.
Admittedly the rate isn't as low as you may get elsewhere, but bear in mind we charge no MIGs/HLCs and that we offer higher lending amounts to graduates.
Your graduate status is good for five years, so if you moved home you can get higher LTVs than our normal 95% as long as any profits from that house are ploughed into the next one (e.g if you bought again within graduation status timescales you might have 98% LTV, etc.)

nmiah786

_Andy_ wrote:

I'm guessing one of you are recent graduates?
Bear in mind that HSBC dropped the rate from 5.39 to 5.19 as part of our January sale campaign, and I would suspect the rate will increase in mid-late Feb.
Admittedly the rate isn't as low as you may get elsewhere, but bear in mind we charge no MIGs/HLCs and that we offer higher lending amounts to graduates.
Your graduate status is good for five years, so if you moved home you can get higher LTVs than our normal 95% as long as any profits from that house are ploughed into the next one (e.g if you bought again within graduation status timescales you might have 98% LTV, etc.)

Let me take a guess as to who you work for!!!!

:rotfl:

_Andy_

No comment

herbiesjp

_Andy_ wrote:

No comment

I think it would be useful to put this in your signature so that it is clear for everybody who reads your posts.

_Andy_

Yep, agreed, do you have a preference or tips for what specifically it should contain?
Cheers