Britannia Mortgage

gitch01

just been told that i cant apply for a new product until 4 months before the end of my current one. i cant apply until 10th february. bummer i think

also this rate is getting pulled tomorrow

they are now going to be doing a fee free 10 year at 5.09%
also they are going to be doing a 10 year 4.69% plus a fee of £569


also just found out my cash in value of my endownment is £9777 so
i'm up a bit on my own expectation as i was thinking of some around
8900

cal1_2

Thanks for this post glitch:D
I've just phoned britannia. The mortgage adviser is going to ring me tomorrow with the definite rates - she thought that Britannia may be bringing out another 10 yr fixed for existing customes with no fees.
We'll find out tomorrow I guess
I hope you don't mind me asking but have you worked out the figure of the early repayment charge if you were to take out this product? If it's only nominal (as it's the last year of the fix), perhaps it might be worth paying the ERC to get the 0.5% reduction for five years??? I honestly have no clue and don't profess to know what i'm talking about:o but what is the 0.5% saving over the 5 years as opposed to the ERC you pay?
I think I should shut up now and go and make dinner!!:rotfl:
Regards,
c

gitch01

i still have to pay six months interest if i want to change products before the end of the term in June. doesn't seem worth it if i can apply for the new product in one months time.
i think the penalty is around £1300

Vertigo1

They've revised their products today, re-introducing their old system of option fees with slightly lower rates on most products.

Have to say that the 4.69% fixed for 10 years with a £549 fee is looking very tempting. Not the lowest rate out there but surely it's a damn good rate for a ten year period if you're looking for stability and would potentially leave you sitting pretty if the economy recovers in a couple of years and rates start going back up.

Opinions?

gitch01

vertigo1 - i think the 4.69% for the next ten years is going to be a cracking deal, especially in the long run.
i just hope its still available on 10th february when i can apply for it.

cal1 - did you get a call back to sort out your mortgage

cal1_2

Hi gitch01
I did get the call back but I was sat with my boss at work going through mountains of stuff, so I couldn't talk:( so I missed the deal too, story of my life:rolleyes:
However, have just worked out on a mortgage calculator, even with the arrangement fee on the new product, i'd be saving £8 per month so all is not lost. I have an appointment with Britannia on Monday, i'll let you know how I get on
C

dimbo61

Hi guys the 10 year fixed at 4.69% is a very good deal even with the £549 fee so just sit tight and wait and see if the latest BOE rate cut brings down the fixed rate deals even more in the next few months.
GOOD LUCK and MF IN february 2019 !!!gitch01 ?

gitch01

mortage free in 2019?????

yeah hopefully.
i've actaully got 12 years left
i've got to work out if its worth changing my mortgage to pay it all off
in the 10 year fixed (i/e can i afford it!)

if i took the 10 years and also kept the final 2 years would it be worth making overpayments on the 10 year to see what that reduces it by

very confusing but i must get the calculator out when i apply in february