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

jasonmymail

Careful with the Alliance & Leicester Premier Accounts :exclamati

There are 'Premier' and 'Premier Direct' accounts. You don't get £100 cashback with the Premier Direct account, but you do get 5% interest.

With the Premier current account you get £100, but only 0.5% interest on your money, but you do get free european travel insurance and paper statements.

It does get confusing so best use the product comparison facility on their website.

Question? My understanding is that either Premier or Premier Direct accounts are OK to qualify for their 3.99% Premier 5 feesaver mortgage.

cbrpaul

it will be interesting to look back at this thread in say 2 to 3 years time :rotfl:

sandspider2000

jasonmymail wrote: »

Question? My understanding is that either Premier or Premier Direct accounts are OK to qualify for their 3.99% Premier 5 feesaver mortgage.

You're correct Jason. I've just got this mortgage with them, and I signed up for the Premier account. When someone on here pointed out that the Premier Direct account paid much more interest, I switched over to the PD, and my mortgage application wasn't affected.

HTH.

Giles

jasonmymail

Thanks for that Giles.

Guessing that you're also required to hold a qualifying current account with them to continue to benefit from the 3.99% rate, so stuck with their CA and interest rates for 5 years which aren't so attractive after the introductory period.

Not that I'm bothered- with interest rates so low it's hardly worth the worry even if you consistently hold +£2,500 in your CA.

AntiLochus

cbrpaul wrote: »

it will be interesting to look back at this thread in say 2 to 3 years time :rotfl:

Yep, I wonder if we'll be laughing or crying!

I've sorted my 5yr 3.99% deal and hopefully will be moving in the next 6 weeks - for us the timing of these deals was great as we HAD to sort out a new mortgage this month. I do hope they come down further or more lenders start offering better deals with no fees
Roll on Friday :beer:

jasonmymail

stolt wrote: »

Just jumped from the abbey mortgage deal to the A&L deal at 3.95% and no fees. i cant see it getting much better than that, although saying that i thought the Chelsea at 4.15% was good in february!!

A few months ago I said that I would commit to a 5yr Fix if I could find one sub 4%. Here they are and I can't help but teeter on the edge :undecided

Encouraging tho that we now have several banks offering sub 4% rates for 5yr fixes.

A&L @ 3.99% still seems best deal around at the moment, even Abbey @ 3.95% only shaves £204 off the interest over 5 years (for my size of loan) which doesn't come anywhere close to covering Abbey's £995 booking fee.


Jason

Dithering_Dad

AntiLochus wrote: »

Yep, I wonder if we'll be laughing or crying!

I've sorted my 5yr 3.99% deal and hopefully will be moving in the next 6 weeks - for us the timing of these deals was great as we HAD to sort out a new mortgage this month. I do hope they come down further or more lenders start offering better deals with no fees
Roll on Friday :beer:

I think a 3.99% fix is pretty good value regardless of where rates go. Let's face it, they can't go much lower so the only way is up from here.

AntiLochus

Dithering_Dad wrote: »

I think a 3.99% fix is pretty good value regardless of where rates go. Let's face it, they can't go much lower so the only way is up from here.

Yep, they will go up as night follows day - but how long they will stay on the floor is anyones guess.

damianmkv_2

libor is now 1.71%, down from 2.16% on 4th March so its not unreasonable to expect that better deals may come....

Dithering_Dad

AntiLochus wrote: »

Yep, they will go up as night follows day - but how long they will stay on the floor is anyones guess.

Let's hope, for my sake, that they stay on the floor for a further 12 months!!