4.15% - best 5 yr fix @75% ltv?

stolt

yes in total for me, its £1485, (£995 arrangement and the valuation fee). For me over the 5 years its still cheaper than the chelsea mortgage i was going for at 4.15%. 5 year fix.

stolt

mby70 wrote: »

Are you an existing Abbey customer?

I do have a savings account but not a mortgage with them.

dimbo61

Hi stolt and kforshaw,
The A&L 5 year fix is 3.99% and has no fees
You do have to open a premier account but if you pay in over £500 a month and pay the mortgage with that you dont have to move current accounts.
If your new mortgage will be less than that then reduce the term by a year or 2/3/4 to up the mortgage payment to over £500 a month. EASY !

Trig1903

Hello all. With regards to the post office 4.15% 5 year fixed rate mortgage, is it definitely the case that interest is calculated monthly ? I was having a look round their website but couldn't see anything to confirm or otherwise. Also, please excuse my ignorance but am I right in saying that daily v monthly interest will only be an issue if you are making overpayments. I've been playing about with various amortisation schedules and the post office seems to be a far better deal than that I was initially thinking about going for. Thanks in advance.

oscardog

Not the cheapest but Coventry BS are doing 4.79% fixed Offset for 5yrs.

Daily interest.

But only available to existing customers I think.

stolt

dimbo61 wrote: »

Hi stolt and kforshaw,
The A&L 5 year fix is 3.99% and has no fees
You do have to open a premier account but if you pay in over £500 a month and pay the mortgage with that you dont have to move current accounts.
If your new mortgage will be less than that then reduce the term by a year or 2/3/4 to up the mortgage payment to over £500 a month. EASY !

Blast:mad: wish i see this thread earlier, i only just posted off my signed application to abbey today and my check for £1485.00!!!!:eek: I suppose i can ring them up and get them to cancel it. I bank with alliance aswell.... arrgh this will be the 4 th bank i have applied to in as many weeks any more and its going to cause serious problems on my record. trouble is fee free is a too good to turn down.


Edit, well just applied online and will ring abbey tomorrow morning and ask them to forward my stuff back. As I say this is the 4th back i have applied to i hop i dont get knocked back because of so many applications. I have a decent credit rating and 39% LTV so that might go in my favour.

Trig1903

Just phoned the post office who confirmed that it is monthly interest on the 5 year fixed deal.

Does anyone know of any amortisation calculators where you can compare a monthly interest calculated deal v a daily one. I'm keen to know what my mortgage balance after a 5 year fix would be on two different options before proceeding with applications etc.

clairehi

I dont know of any calculators Trig but have you asked the lender if they can tell you what the balance would be after 5 yrs on the deal?

Just another point, they have been phenomenally fast at processing my remortgage application. 7 days from submitting the application on line til issuing the offer of loan (got it yesterday).

Tues 11pm - submitted app online
Weds am - call from B&W to clarify address info. app approved later that day. paid valuation fee online.
Thurs - received phone call to book valuer, they suggested coming the next day but I couldnt do it so delayed until Monday
Mon - valuation done
Tues - received txt confirming mortgage had bee nunderwritten
Weds - received offer of loan!

I am very impressed so far!

Sportbilly_2

clairehi- how long did your application take before it was approved? Did they do a physical valaution of the house as well?

We applied for a remortgage on Tuesday with the P.O. after being accepted in principle. It just might be a bit difficult to get time off in the next couple of weeks to be there for a valuation.

Edit: Heh, just seen your timetable above. I hope ours is as quick, I just want to put it to bed now.

clairehi

Hi Sportbilly, we cross-posted as I was editing my earlier post with the info you needed - hope that helps.

I am very impressed with the customer service so far, they are super efficient!