Lloyds Tsb 10 Year Fixed Rate @ 4.99%

iannj

hi,first post on here.

would people reading this agree that ten year lloyds / c&g fixed for ten years @ 4.99% is a good deal? (may well go lower this week)

i know early exit fees are very heavy,but for great peace of mind for ten years for people like myself who intend to stay in the same property... seems like a good deal.

iam about to remortgage & seriously considering this fixed rate....... new trackers now available to me are roughly 3% above BBR,not such a good deal compared to some established trackers currently approx. BBR + 1%.

when you look at pasat ten year average SVR its always been 5%+.

iannj

iannj wrote: »

hi,first post on here.

would people reading this agree that ten year lloyds / c&g fixed for ten years @ 4.99% is a good deal? (may well go lower this week)

i know early exit fees are very heavy,but for great peace of mind for ten years for people like myself who intend to stay in the same property... seems like a good deal.

iam about to remortgage & seriously considering this fixed rate....... new trackers now available to me are roughly 3% above BBR,not such a good deal compared to some established trackers currently approx. BBR + 1%.

when you look at pasat ten year average SVR its always been 5%+.

replying to my own thread,but here goes : does anyone know also if there is a better 10 year fixed rate mortgage deal currently available ????????

sar050680

My fixed rate is up this month, we've been into our building society who offered us a 5 yr deal at 4.99% no fees, that was friday, we were advised to wait about two weeks to see what they drop to. Try comparethemarket.com to see other offers.

http://comparethemarket.com/mortgages/

socrates

Speak to a Mortgage Adviser for something as important as this - get advice its free!

If your gut instinct is to fix for 10 years and you feel its a good thing to do so then go for it.

Personally I think interest rates will be higher for a lot longer than they are lower.

But what do I know as my ex wife keeps reminding me!

dimbo61

What are you paying now %?
Are you on the SVR of your lender or still in fixed rate or tracker deal ANY ERC,s to pay.
Lots of new deals coming out soon following latest cut in BOE base rate
so maybe a good idea to sit tight for a few months.
Have a mortgage broker do the work for you and compare to what your existing lender can offer.
Check out the comparision websites and newspapers. GOOD LUCK

iannj

dimbo61 wrote: »

What are you paying now %?
Are you on the SVR of your lender or still in fixed rate or tracker deal ANY ERC,s to pay.
Lots of new deals coming out soon following latest cut in BOE base rate
so maybe a good idea to sit tight for a few months.
Have a mortgage broker do the work for you and compare to what your existing lender can offer.
Check out the comparision websites and newspapers. GOOD LUCK

just finished 5 year fixed deal with birmingham midshires, svr of 4.89%.....now......hoping maybe to fix in for 10 years for hopefully in the region of 4.5% in the next month or so.

dwsjarcmcd

socrates wrote: »

Speak to a Mortgage Adviser for something as important as this - get advice its free!

Nothing is free. Just make sure whoever you speak to doesn't charge a fee and is paid by the lender. There is a thread on here suggesting fees of up to 5%

socrates

What I meant was advice from a broker on here.

I have never paid a fee to a broker I have always made sure they get paid by the lender.

Saying that I always recommend my broker to other people - he has never let anyone down and has never charged the people I recommend either.

dimbo61

iannj thats a damm good plan to me and I would have jumped at that 3 years ago if offered to me.
Can you afford to reduce your term to 10 years and this would be the last mortgage you might ever need !!
Or keep the term the same and overpay each month to be MF in 10 !!

iannj

dimbo61 wrote: »

iannj thats a damm good plan to me and I would have jumped at that 3 years ago if offered to me.
Can you afford to reduce your term to 10 years and this would be the last mortgage you might ever need !!
Or keep the term the same and overpay each month to be MF in 10 !!

thanks for reply,unfortunately will be over 19 years,but if i can get peace of mind for over half the term,i will be happy:T

will-in-estoril

iannj wrote: »

thanks for reply,unfortunately will be over 19 years,but if i can get peace of mind for over half the term,i will be happy:T

You have answered your own question from post #1!

Altough I am one of the lucky ones to be on a lifetime tracker (at the moment anyway) I would in other circumstances jump at this rate. Do take advice but consider the advantages:

• No longer worried about what the Bank of England MPC will do every month.
• Fixed payments for ten years.
• No rooting round every few years for a better deal.
• No fees/valuations to pay every few years.

I do believe that once we get a sense of normality back into the economy more and more borrowers will opt for longer term fixed rates.