Best 5 year fixed rate mortgages

Hi all

sorry for another what's the best deal thread, but i may need to find a mortgage deal fairly sharpish for a house i have offered on - (i did have a aip with one of the lower rates and just missed it)

I'd like a 5 year fixed, 60% LTV is okay, with an overpayment facility and so far I've found the following

post office at 4.45% with a £599 fee
natwest at 4.59% with a £299 fee
Britannia at 4.24% with a £999 fee
Chelsea at 4.34 with a £995 fee
Alliance and Leicester 4.49% with a £495 fee

Has anyone found anything better? I'm planning on speaking to my mortgage advisor (who is whole of market etc) but I was told during my last discussion with him that some lenders won't go through advisors as they are not prepared to give them commission???

any help/thoughts, especially about the rates, would be great thanks :D
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Replies

  • nw_mannw_man Forumite
    739 Posts
    Hi all

    sorry for another what's the best deal thread, but i may need to find a mortgage deal fairly sharpish for a house i have offered on - (i did have a aip with one of the lower rates and just missed it)

    I'd like a 5 year fixed, 60% LTV is okay, with an overpayment facility and so far I've found the following

    post office at 4.45% with a £599 fee
    natwest at 4.59% with a £299 fee
    Britannia at 4.24% with a £999 fee
    Chelsea at 4.34 with a £995 fee
    Alliance and Leicester 4.49% with a £495 fee

    Has anyone found anything better? I'm planning on speaking to my mortgage advisor (who is whole of market etc) but I was told during my last discussion with him that some lenders won't go through advisors as they are not prepared to give them commission???

    any help/thoughts, especially about the rates, would be great thanks :D

    He is correct. Some lenders only offer products direct to the consumer, however he can source them for you and charge you a fee for finding them I guess.
  • thanks nw - good to confirm this.

    anyone have any opinions on the rates please?
  • I think the Britannia one at 4.24% is 40% LTV.

    I've also noted down an Ipswich one at 4.25% (£999 arrangement and £350 survey) but not sure if its still available... i've been meaning to check.

    Otherwise these are the same as I have at the top of my spreadsheet.
  • happybrokerhappybroker Forumite
    1.3K Posts
    depends on your balance, a higher balance may make the rates with higher fees more attractive
    Happily an ex mortgage broker!
  • dimbo61dimbo61 Forumite
    13.3K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Forumite
    YBS doing 5 year fix at 4.59% or offset at 4.69% if you have savings and want to clear mortgage quickly at no limit on overpayments !!
    Fee £245 i think !
  • Crazyhorse - i think the ipswich one has gone, i can only see a 5 year fixed at 4.79% on their website, it must have been pulled recently as I'm sure I saw it too not very long ago. Nice to get some reassurance on the other rates - I keep worrying that I might have missed something :o

    happy broker, yes your right. We are more interested in monthly payments than fee's - although I'm not saying we would overlook them!

    Thanks dimbo - i've never really considered offset and will have a look at ybs. I used to have my mortgage with them and never had any trouble apart from mixed call centre messages re redemption fee's but the in-house advisors have always been clear.

    I think tomorrow will be a busy day, going through all the fine details :confused:
  • jasonmymailjasonmymail Forumite
    31 Posts
    Part of the Furniture Combo Breaker
    Forumite
    I think the Britannia one at 4.24% is 40% LTV.

    I can't find anything better than this 5yr deal at the moment. Incidentally it's 60% LTV max.


    The Principality have a 4yr fix to 31-03-13 @ 3.99%. Again 60% LTV, fees are £999 and 5% ERC for the full 5yrs.
  • CrazyHorseBCrazyHorseB Forumite
    34 Posts
    Does anyone think 5/10 year rates might go back down in the next 6 months? I can't see BoE interest rates changing for 6 months so there was no obvious reason for banks to recently up there fixed rates... apart from them being cautious about over-exposing themselves at 4%.

    Reports over the last week suggest mortgage uptake hasn't increased over the last couple of months so maybe if a couple of banks might take the gamble and start offering 4% fixed deals again then a few more will.

    My current deal comes to an end in a couple of months, so while it would be nice to have something sorted now I could risk riding the SVR for a few months if I think there is a chance of getting a decent long-term deal.
  • I'm in the same boat CrazyHorseB.. My fixed deal ends September and I'm looking for medium-long term fixed rate deals.
  • confused31_2confused31_2 Forumite
    1.3K Posts

    Reports over the last week suggest mortgage uptake hasn't increased over the last couple of months so maybe if a couple of banks might take the gamble and start offering 4% fixed deals again then a few more will.

    a few people are reporting that people are taking up mortgages, i think a lot of it has got to do with the svr rate being so low, people think why bother when they are on such a low rate anyway.

    Im surprised a few companys have put their rates up, maybe they know something we dont, like that rates are going to start to go back up.

    Heres a article on uptake in mortgages, having said that though, it says they are nowhere near what they was this time last year.

    http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/5152448/Mortgages-go-up-in-positive-sign-for-economy.html
    I am not a Mortgage Adviser
    You should note that this site doesn't check my status as not being a Mortgage Adviser, so you need to take my word for it. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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