Where have all the good deals gone?

michaels

I am on my 4th mortgage deal in 6 years, previously I have always paid at least 25bp under BOE base rate including all upfront/valuation/legal/sealing fees on discount products.

This time the best product I can find is costing me 18bp over base for the next two years - does anyone know why the market is less competitive now?

dwsjarcmcd

Michaels,
Pretty simple really, lenders don't make any money of the deals you describe. This combined with virtually no-one maturing onto the lenders SVR's (on which they did make money) means that it will become more difficult to get the type of product you had.

MickKnipfler

I think risk has got a lot to do with it too.....as the risk of a fall rises, the potential LTV falls

michaels

Hmm - I have gone from about 80% to 50% ltv and 3.5x income to just over 2x - shouldn't that make me a better risk?

I guess it is too many people switching to get the best deals all the time...