New Long Term Fixed Rates

Sportbilly_2

You can use this calculator http://money.guardian.co.uk/calculator/form/0,,603156,00.html to see if it's worthwhile over the 5 years.

Stantheman

Sportbilly wrote: »

You can use this calculator http://money.guardian.co.uk/calculator/form/0,,603156,00.html to see if it's worthwhile over the 5 years.

Thanks for that. Its a good tool as it works out the totals over a number of years. From looking I can see that it would only cost £300 more to take the no fee option. A&L here I come. Thanks everyone.

robbomc

The 5 year fixed deals have become very good but has anyone got a thought on 10 year fixed deals as they are still highish imo.

I Know in real terms they are not but you know what i mean?

sandspider2000

hearts wrote: »

If somebody offered you a grand for 2 days work would you take it? ;-).....and I'm being generous with the 2 days. Probably more like 4 hours allin ;-)

It's not so much the time to go through the paperwork (though I think it would be rather more than 4 hours judging by current experience!), it's the hassle of switching my current account. I know the banks say this is supposed to bt quick and easy, but it's not - DD payments get missed and not transferred, it's a pain. Oh, and the HSBC mortgage allows higher monthly overpayments if I remember right, though it's possible I don't!

Anyway, I spoke to HSBC yesterday and the bloke expressed the possibility of negotiating on the fee once the paperwork was all finalised... (Not much to rely on I know, but I can hope!)

Giles

damianmkv_2

I'm looking at the same thing..A&L 3.99% 5 yr fix is only open to Premier customers and I'm not prepared to move banks.

Which leaves me with HSBC at 3.99% or now Abbey at 3.95%. My 5 year fix with A&L ends on 30th April so I'm really looking at this...Abbey have reduced their SVR following the last BR cut haven't they but HSBC haven't ?

I'm tempted by HSBC but wish they'd cut their rate...even if it was by 0.25

sandspider2000

I think 3.99 with HSBC is pretty good. HSBC's SVR is currently 3.94, so the SVR is very very close to the fix. (Apparently their SVR is under review) Off the top of my head, Abbey's SVR is higher. I think HSBC are unlikely to cut their rate for a while at least as the 5 year fix at 3.99 is quite new, but I'm hoping they may reduce the fees...

damianmkv_2

I did say a while back that if a 5 yr fix went below 4%, I'd jump on it..now here I am in that very position thinking "should I wait ? "

0.5% = £40 / month which would be nice....just can't decide whether to " sod it" and get it finished so I know where I stand or wait for another week/10 days

damianmkv_2

and libor is still falling ( although i realise its not really a gauge of what the banks are doing at the moment ) - its dropped 0.15% since the rate cut on 5th March soooo maaaaayyyyybe....

cbrpaul

Im giving it another week or so to decide to go for the A and L 3.99% 5 year fix £0 fees,

Also you donot have to change bank accounts for the A&L deal I beleive , you merely have to have £501 deposited into a A&L premier account , so a simple way is to DD your mortgage payment out from your current bank to the A&L premier account , the day before the mortgage goes out !!!

:beer: