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ckp1975

I think this is a v good deal. Beware of your LTV though. I went through a similar experience with Halifax, whereby after coming out of a fixed rate deal at the beginning of the year I was just over 75% LTV, and I made an overpayment to reduce this to below 75% LTV, so that I could access some of their fixe rate offers. However, few months down the line, with houseprice indexes plummeting, I find myself back to square one, above 75% LTV.

However, I managed to secure a 3 year 4.64% fixed with Halifax a couple of months ago before the LTV went above 75%, i.e. I deferred my start date, which you may be able to to with HBSC if you want to keep an eye on the market conditions, without risking the LTV?

I can't go to another lender, because my wife is now unemployed but also pregnant, so will be out of work for at least 18 months. I am am the only source of income, and with my salary we wouldn't be able to afford to move to anyone else. Otherwise, I think there are some good deals with HSBC and Abbey at the moment.

Sportbilly_2

davel wrote: »

I applied for this deal yesterday, but they came back with a ridiculously low valuation on my property, which meant I wasn't within the 60% ltv. I've asked them to take it to the next level and am waiting on a proper valuation, not an online one.

Same here- my valuation came in at £15-22,500 less than various online calculators and sales of similar houses around here, which meant we went from the expected 58% LTV to around 66%. So it's either scary how fast prices have dropped, or they're way off beam.

Anon

southantrim3 wrote: »

Why are the lenders charging such high fees for these products.

1. Because they can.
2. Because they need to make their profit somehow.
3. Because they want to advertise lower % rates which most people initially go for and the only way they can do that in the light of 2 above is by increasing the fee. Therefore higher % interest rate, lower fee, lower % rate, higher fee (simplistic but I suspect true).

Anon

dannykos

Anon wrote: »

Therefore higher % interest rate, lower fee, lower % rate, higher fee

unless you're Alliance & Leicester, with High % and MEGA high fees!!

Some of their deals carry a 2% product fee! :eek: