Post Office Mortgage 5yr fixed

fraser

not on the website it is not

best be quick with an application people if you are in the position to apply

u02ai

RedPing1977 wrote: »

Note to everyone...

I've just got back from my local Post Office where I had a brief chat with their financial advisor whilst sending parcels.

The LTV rates have changed on the 5 year fix as of today...and it's not good news.
The 4.15/4.35 rate is now 60% LTV with some new products available ranging from 4.99 - 5.40 at 80% LTV.

Back to the drawing board for me.

Any other good 75% LTV rates out there less than 4.5%?

Oh dear.:( I was going to go for this also. I have completed the Aip and been approved. Does anyone know at what point the post office would be tied in to provide the deal?
will try to complete the rest of the online form tonight

u02ai

application submitted anda accepted last night. Was advised online during application that it must be completed in and submitted before or on the 27 April.

Also must pay the valuatioin fee within 3 working days of succesful application to secure the product

so still some time to apply for those interested

confused31_2

arenaman wrote: »

Lucky I got my application in a few days ago with the PO for the 4.35% free legal and valuation deal.

Does anyone know what the PO are like with valuations? I got an offer from Abbey 2 weeks ago which came in at 71% LTV (on a 75% deal) and they just did a drive by. I thought they would have wanted a look round with the margin being tight, I'm hoping the PO will do the same.

We had them come in our house they valued it at the155000 we had put on the form, funny thing was we had our house up for sale at 140000 and no interest at all.

confused31_2

fraser wrote: »

not on the website it is not

best be quick with an application people if you are in the position to apply

its still on there now.

ashington10

The valuation process of each lenders appears to be very different. Surely if the LTV is going to be tight then it is necessary to have a look about.

Is this something you have to push with the mortgage lender.

samnorris2

u02ai wrote: »

application submitted anda accepted last night. Was advised online during application that it must be completed in and submitted before or on the 27 April.

Also must pay the valuatioin fee within 3 working days of succesful application to secure the product

so still some time to apply for those interested

I called the PO on Friday 17th April and they sent me out the application form by email and also advised that I would need to submit by the 27th April. Some Sunday reading I guess!

RedPing1977

u02ai wrote: »

application submitted anda accepted last night. Was advised online during application that it must be completed in and submitted before or on the 27 April.

Also must pay the valuatioin fee within 3 working days of succesful application to secure the product

so still some time to apply for those interested

So we can assume the current rate is changing at midnight on the 26th??

Still time if that's the case!

u02ai

RedPing1977 wrote: »

So we can assume the current rate is changing at midnight on the 26th??

Still time if that's the case!

looks like it. Anone interested sould probably complete the online forms. You can complete all forms and get an accepted offer without paying the valuation for 3 working days. After this I think the offer is not reserved anymore.

samnorris2

Been doing some more research on this one. I've been overpaying on my mortgage for the last year. Checking out the PO deal, you can pay a lump sum once a year or on a monthly basis. However they will only readjust your interest on an annual basis - I want to have the flexibility of overpaying when I can but want the instant benefit of the interest and capital reduction by paying monthly.
I still like this deal but looking for some guidance on how much I miss out saving by only having the interest recalculated annualy.
It's a £90k mortgage over 15 years and I can overpay by ~ £500 a month. Can anyone advise how I can work out what I'd be leaving on the Post Office counter?