Looking for a new Mortgage? Best deals out there?

adrian2000

I currently have a Mortgage with the Northern Rock which the deal is coming to an end.

I took it out 7 years ago in June 2002 at a rate of 1.89% fixed for two years. After the two year period it reverted to the standard variable Mortgage rate.

I was tied into Northern Rock by a redemption penalty which year on year reduced in the last year to about £400. As part of their commitment to me the rate had a base rate guarantee of 1.99% above the BOE mortgage rate so now I am paying 2.49%. This however comes to an end in June this year and will revert to their standard rate of 4.79%, this may be reduced slightly by 0.25% as a loyalty discount.

I have phoned the Northern Rock to see if they have any deals to offer me, but they don't at the moment, so I have been on the look out for a deal to suit me.

I am currently over-paying and want to continue to over pay, whilst I can, but want to get a better rate, so I have looked round and found a couple of rates that I think are quite good, but want to get other peoples opinions on them?

The first one is with the Principality BS at a capped rate of 2.99% this is capped for two years then reverts to their standard rate of 4.99% . They pay most of the fee's including Valuation and solictors fees etc. I can also overpay as much as I want without any penalties.

The second is with Stafford Railway BS at a variable rate of 3.69% again most of the fees are paid by the BS with the execption of the valuation fee of about £230 and a conveyancer fee of £145. There are no early repayment charges, I can also overpay as much as I want without any penalties.


Can you please let me know what you think or if you know of any better deals out there?


Thanks
Adrian

dimbo61

We need more Info Adrian
LTV of the mortgage, credit history!, income
Do you want a long term fix 3/4/5 years
age , term of mortgage, other savings ,etc

adrian2000

dimbo61 wrote: »

We need more Info Adrian
LTV of the mortgage, credit history!, income
Do you want a long term fix 3/4/5 years
age , term of mortgage, other savings ,etc

Hi, Property Value approx £220,000
Good Credit History
Salary £30,000
Term 25 Years, but must be able to make overpayments.
Maybe fix

Thanks

SuzyP_3

First time in a forum. IS IT ME?

Until very recently the bank charge on my mortgage was 2% above the Bank Of England Rate. Ie BOE Rate was 5.5% I paid 7.5%.
Now however whilst BOE Rate is 0.5% I am charged 3.5%. Not sure I was made aware of this 50% increase by my bank. That's an extra £100 per £10,000 borrowed. Are increases by stealth allowed/legal?