Fixed rate cuts

jonnyblue

Hi

We have had an offer accepted on a house, we have factored in that the value may/will drop further and have got it at a price that were happy with. About 20% off peak prices and good value when you see what others in the area go for.

We have managed to save 20% deposit. In an ideal world we would wait a little longer and save 25% however we dont want to miss out on this house as its 100% the one we can see our future in and again we have got it at what i consider to be a good price

So i understand we are going to have to pay a premium mortgage wise. The best i have seen is 5.69%, 5 year fix, £299 fee with Natwest (Would rather fix for 5 years so we have stability in repayments).

2 questions really:

- Does anyone know of any better deals with 80% LTV than the one above (ive searched high and low and can find slightly better rates with bigger fees)

- Secondly, and the main one, IF rates are cut again today is it likely fixed rate deal will be reviewed and better ones released, and how long does it usually take the banks to do this from when rates are cut ?

The only reason i ask is that we are due to see the lender on Friday to start the application, we have already instructed a solicitor and im wondering whether its better to delay until next week if there will be preferential rates available ?

Thanks

scotty1971

only my opinion,but if the banks drop there fixed rates again,i can see there fees for mortgages going up,,but only my opinion