Is 3.99% 5 year fix the lowest it will go ??

i_like_shoes

I've been offered a 2yr fixed with no fees of any kind and a 4.2APR ...... Is this ok???

sabretoothtigger

Whats the alternative you have, wouldnt the going rate be a better bet for just 2 years.
Ask on 5 or 10yr fix, in america I hear them doing 25yr fix at nice rates

Jacka87

How long have you been in your job. If you have been there 3 months, even if probation is longer (like 6) then there are lenders that will do it.

Thanks Lucky fool, it was RBS that told me I needed to wait until my probation period was over. They said that it would prob reduce my credit score enough to make it a worry for most lenders and they would almost certainly not give me it based on that.

The only other decent 10yr fix was with the Abbey at the moment, do you know if they are more leaniant on this? Been in my job 4Months now to answer original question.

cbrpaul

just to say, for those who took the A&L 3.99% fix no fees ,

Part of the criteria was you had to open a A+L bank account , part of having a A+L bank account is to have a minimum of £500 go into it every month ,

I forgot to do this and called them today , they said , failure to meet the criteria will result in a £5 charge per month !!!!

However as im new they will give more time for me to setup a direct debit !!

Im now transfering my mortgage payment funds to the A&L bank account and then the mortgage comes out the same day from that account

Just a warning to you all

mista3

I'm on an HSBC tracker at +0.48% (I hopped onto that after my first mortgage which was 2-year fixed, a lucky play, phew)...

Keeping an eye on the market but not sure when/if to make the jump to fixed... currently just overpaying as much as possible... any tips for me? (I'm 28 and in a steady and fairly well paid job)

Also wonder if Santander will roll out any tasty offers later in the year or start of next?

PS. My LTV is 75%. Hmm.

sabretoothtigger

May 29 (Bloomberg) -- Kyle McGee went to his mortgage broker’s office yesterday hoping to refinance and save about $200 a month. He walked away empty-handed.
McGee was expecting a rate of 4.7 percent; the broker offered him 5.375 percent. The average 30-year fixed-mortgage rose to 5.27 percent as of yesterday, according to Bankrate.com.
“We feel like we might have missed the boat,” said McGee, 37, an adjunct professor of social work at Hunter College School of Social Work in Manhattan.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aueKM2uFWFEA&refer=home


http://www.google.co.uk/search?hl=en&safe=off&client=firefox-a&rls=org.mozilla%3Aen-GB%3Aofficial&hs=K6S&q=It%60s+different+this+time+market&btnG=Search&meta=

cbrpaul

First Direct

3 year fix , 4.09% with just a £99 fee

not bad for anyone looking for a decent fix !!

sabretoothtigger

3 year fix might not be worth it, what is the alternative normal rate

Trying_to_be_good

Does anyone, please, have a copy of the A+L 3.99% five year fix deal? I need to prove to my current lender that the deal existed, and didn't save a screen shot or anything at the time - does anyone have a pdf (no personal details, obviously!) showing the deal and arrangement fee etc, please?

fluffig

Well it's been a while (we completed on the 3.99% deal on 30 April), but we have today received a cheque for £200 cashback for using our own lawyers for the re-mortgage :j

It was on their web page detailing the offer (which we didn't print off - sorry previous poster can't help you there), we checked it with them and they confirmed it to be the case on the 'phone, and it was in our key facts and mortgage offer, but then they said they wouldn't pay it to us as it didn't mean that on the mortgage offer !!! :mad:

At least their formal complaint procedure seems to work