Fix for 2 or 5 years?

andyyorks

Hi VKay,

Did your IFA find the RBS 5yr fix at 4.59 (arr fee only £299) deal? I couldn't see the deal on their website for 75% LTV. I'm looking for a five year fix at the minute, I'm 70% LTV. This deal is better than any I've seen for both rate and fees.

Cheers
andy

blued

VKay wrote: »

Hi lauren (and co)

Thanks for your input it's really good to hear of someone in the same boat- i have noone to talk to in real life who is in the same situation. I don't really understand what would happen if we fixed for 5 years and then for some reason had to move house (new jobs/ decide we don't like area etc??)? Would we definitely end up paying a huge 'get out' fee or could we transfer to next house? It's hard not being able to predict the future!!

Good luck Lauren!

Check to see if the mortgage is portable. If it is this means that you can take it with you if/when you move house and avoid early repayment charges.

stolt

That RBS rate looks good, was originally going to go for a 2 yr fixed but this looks a very good deal and cheap arrangement fee, are there any valuations fees involved with it aswell.

gemmalouanna

andyyorks wrote: »

Hi VKay,

Did your IFA find the RBS 5yr fix at 4.59 (arr fee only £299) deal? I couldn't see the deal on their website for 75% LTV. I'm looking for a five year fix at the minute, I'm 70% LTV. This deal is better than any I've seen for both rate and fees.

Cheers
andy

http://www.rbs.co.uk/personal/mortgages/g2/fixed-rate.ashx

9th one down - is this the one the OP is talking about? (one below it for remortgage customers)

beecher

andyyorks wrote: »

Hi VKay,

Did your IFA find the RBS 5yr fix at 4.59 (arr fee only £299) deal? I couldn't see the deal on their website for 75% LTV. I'm looking for a five year fix at the minute, I'm 70% LTV. This deal is better than any I've seen for both rate and fees.

Cheers
andy

http://www.rbs.co.uk/personal/mortgages/g2/fixed-rate.ashx

quotes the 5 year deal, but it is only for purchases, not remortgages.

edit: I was too slow

andyyorks

Cheers for the replies, I'm remortgaging so not available to me. It is encouraging though that the rates for long term fixes are coming down, will keep looking!

shorehambeach

Hey Vkay

In my humble opinion you need to think about how you view your house.

(A) Do you want something stable where stability in payments and security outweigh short term desires to save money or benefit from any market moves?

(B) Do you want to try and ride predict the state of the economy and play the move in interest rates/economic cycle?

If its A - choose the 5 year
If its B - choose the 2 year

As someone has already posted, see if the mortgage is portable as you can take it with you if you move.

Incidentally - I choose A for my house and B for investment property

Good luck

VKay

Thank you so much for all your advice. Andy my IFA didn't find the deal -it was in the sunday papers- but as you say it's not for remortgages. Good luck!

carteruk

noob here so go easy -

im a bank employee and can get:

2yr fix 3.14% 90%LTV no fees
5yr fix 4.29% 90%ltv no fees


just wondered what your opinions are on this. looking at a new build, c.£130k

dont know if they are portable, an in the usual prediciment around job locations/moving in a few years time

downs523

them rates above are excellent for the LTV wish i could get them! what type of new build is it? got any pics?