Fixed but need overpayments

lisyloo

Can anyone point me to any good fixed but flexible mortgages.
When I say flexible I actually mean the ability to make overpayments (large ones not £500 per month).

My own view is that interest rates are likely to rise (see graph)

http://www.hbosplc.com/media/includes/Interest%20rate%20trends.jpg

but I don't want to compromise the ability to overpay as I have the opportunity to overpay large amounts.

Any ideas gratefully received.
I am not tied in on my current deal which is variable 4.5%.

homer_j_3

there are some advisors on here that may know sepcific lenders that accommodate this but why not have a look on https://www.moneyfacts.co.uk and https://www.moneysupermarket.com for some inspiration.

You need to be looking for partial overpayment/ capital repayment facilities. I know that a lot do 10% annually without charge but whether this is in conjunction with a fix rate, I dont know.

With regards to your view on rates, I could probably find other articles to contradict that. I would probably say that its a fair view to say interest rates will fluctuate within 1%, either way, over the next year or two (providing nothing major happens in the economy - for which nobody can predict)

paul2louise

i have a mortgage with the yorkshire building society. It lets me pay as large an overpayment as i want as long a i dont pay off my entire mortgage during my fixed rate period. My partner has just sold his house. We owe about 57k lefton my house. He is going to put 50k in the offset account linked to the mortgage so we still access to this money yet we will pay virtually no interest on the loan.Then later in the year we can use the 50k to put a deposit on a new house in addition to the sale of my house. I intend to get a remortgage with the yorkshire and then i will not have to pay any redemption charges.

i think they are worth a look at. I am very happy with them

Louise

seanko

Moneyfacts & Moneysupermarket offer an incomplete service, they offer a listing from a few lenders (who pay money for the priveledge).

You can't find out if the deal applies to you or only wealthy customers.

Plus they don't tell you about the hidden charges & conditions attached to those low interest deals or who offers you deals such no arrangement fee, free legals & valuation.

eg you may be tied into a Standard Variable Rate for 10 years.
Beware of any deal under 4%, there will be a catch. Lenders get thir money in repayment penalties, big arrangement fees etc

Note: I am an IFA & it is my job to give people advice & not fall into the traps lenders lay for them.

Cheers
Sean

knuckledragger

lisyloo,
The Woolwich Open Plan 10 year fix at 4.67% might be useful if you are staying put for a while. I haven't looked at the in depth T&Cs for any catches but I would assume early repayment in full would be one...