Fixed rate mortgages with unlimited overpayments.

patchwork_cat

Been in touch with them. I explained to the chap that I knew nothing about offset - he wasn't very good at explaining, but looked into it a bit and they seem too good to be true, WHERE IS THE CATCH???? I am showing my age not knowing anything about offsetting, aren't I !

patchwork_cat

The 2.99% at First Direct does look good, but was thinking that a longer fix might be a good thing with the current climate what does everyone think about the 4.69% 5 yr offset fix at YBS? The broker has recommended Northern Rock at the same rate, but thinking about it I like the flexibility of interest only, if I need, of an offset. The broker couldn't find any of the 4 offset fixed or the one with Ipswich that you have all given me, admittedly 3 of the companies/products don't use intermediaries, but all the same thank god for MSE!

supersunshine

I must admit I think 2 years isn't long enough in the current climate, the deals are good at the moment so I was thinking for 5 years in the hope i can use that time to pay off most my mortgage. I was also looking at the trackers but looking at the rates the BoE base would only need to go up 3% to make you worse off than if you had gone for Yorkshires fixed offset - I am sure rates will go up over 3% within a couple of years but may be wrong - if only we had a crystal ball :-(

Have you got the drift of offset now as I am sure someone on here or I could explain it to you. Basically as long as you have a nice lump in savings which you aren't thinking of using much of in the next few years it is well worth going for in my opinion.

patchwork_cat

Also YBS one is low fees, so using for my level of mortgage better value than Northern Rock. Need to research a spot more to be sure it is the right thing as it really does seem perfect, even if you didn't have a decent lump sum it looks like the way forward. I will have to have disciplint though and not spend the capital - can I do it, I ask myself?