Best 2/3Yr Fixed Rate Deal

00mrmark00

Hi All,

Looking to take out a 2/3Yr fixed rate deal with a 25% deposit and was looking for any suggestions as to best currently available product.

Also, should I stretch myself and reduce the pay back term as much as possible, or keep a small stash aside given the current uncertainties.

Products I'm considering are...

First Direct 2Yr Fixed rate 2.99% £898 Arrangement Fee - Up to 8 week lead time for this one.

Natwest 2Yr Fixed rate 3.19% £799 Arrangement Fee

RBS 3Yr Fixed rate 3.99% £499 Arrangement Fee - Application made online on 26th April

Natwest 5Yr Fixed rate 4.59% £299 Arrangement Fee

Many thanks...

trynsave

Really need a few more details.

How big is your mortgage, and how many years remaining?

Generally, the smaller the mortgage and the fewer years remaining you might be best considering low upcost fees.

The larger the outstanding balance, and the longer the term, the more the rate is applicable.

If you have significantly more than 2-3 yrs to pay off your mtge outstanding, the thought on here tend to favour longer fixes as it is predicted (although none are Mystic Megs), that rates may rise over the 2-3 yrs term you are talking about, and you will be left trying to fix at a more expensive rate. Also more arrangement fees etc, etc...

00mrmark00

Hi trynsave,

Thanks for the quick response. Good point on the 2nd lot of arrangement fess. It's amasing what one might over look. Hence I love these forums.

Ok. STB - 2nd Time Buyer. 75% LTV. Need a mortgage of £114k. Was looking for fixed deal. Term 15 - 20 years.

Like the look of the short deals as obviously they have the lowest APR's. Though do like the security of the longer term fixed.

Can't imagine the rates are going to rocket that quickly... But you never know.

00mrmark00

The RBS and Natwest are almost identical deals. If I'm currect they are the same banking group.

Has anyone else seen any better offers over 3Yr???

Did see a 10Yr fixed rate with the RBS... Just a little over 5%...

00mrmark00

Hi all,

Decided from reading other posts that the whole longer term and freedom of overpayments is a good idea.

Tried to call Natwest and RBS two evenings last week and been fobed off with they will call me later in the week but never do.

Need to get my finances arranged fast. Has anyone any other comments regarding the products I have found already. Any better suggestions?

Cheers.