Natwest 5 year fixed FTB 5.99 decision in principle!

ben1985

Hi there,

I've a decision in principle meeting with Natwest on Tuesday. My credit history is crystal when it was last checked around March when Lloyds TSB did a mortgage credit check and I passed it without a hitch.

What I'm thinking about is the HLC. I have read Natwest rate details and in small print in mentions HLC will be payable on loans about 90% LTV

I have 10% deposit (7k) of total property value (70k) so need £63k lending to me.

This is a 90% LTV. I have read somewhere the HLC is the difference between 75% and 90% as a percentage, anybody have an idea what it could be, can it be added to the mortgage?

Also, does anybody know of any better 5 year fixed deals WITHOUT a product fee as I have searched high and low and cannot find anything to beat natwest.

Regards

Ben

ben1985

41 views but no reply's, come on people, try and answer my questions

regards

Ben

dimbo61

Well i make 42 and I am confused about what you are asking?
Do I know any better rates without fees on a 5 year fix for a FTB ( no )
Are you having to pay a HLC to the lender ( whats the cost! )
Taking a 5 year fix is I think a good idea ( security for the next 5 years.
The rate is about 1/ 1.5% more than the best available on the market when you have a 40% deposit.
HLC is a HIGHER LENDING CHARGE and as you are putting down a 10% deposit I hope you will not have to pay it ( insurance policy for the lender NOT YOU ! )

ben1985

Hi, thanks for response. I've heard natwest charge the HLC on mortgages above 90%. I don't know how they work out the charge, I cannot find the information. Well mine will be 90%, not above, so I need someone who knows about Natwest and their HLC's. Also does anybody have any idea of solictors fee's for buying a 70k property with a FTB (ME). I've heard quotes around £400, is this right-ish?

Regards

Ben

_Andy_

Why don't you just ask them on Tuesday?

_Andy_

ben1985 wrote: »

41 views but no reply's, come on people, try and answer my questions

regards

Ben

Why the need to be so impatient? You only posted the original message two hours prior (plus it's a weekend so less traffic)

DJ1UK

Have a look at the following link from the Natwest website;

http://www.natwest.com/personal/mortgages/g4/common-questions.ashx#what_is_a_higher_lending_charge

It says you pay a HLC of 7.4% if your LTV is above 90.01%.

So if your LTV is 90% you won't pay a HLC - however confirm this with them on Tuesday.

Good Luck

DJ

DJ1UK

By the way - i'd be interested to hear how you get on.. I'm looking to apply for the same mortgage from RBS.

ben1985

Hi, thanks for the information so far. I'll let you know exactly how I get on.

Regards

Ben

chambta

There won't be any higher lending charge. As the group aren't offering mortgages above 90% LTV no one is.

ben1985

Hi Everyone. I had my AIP at Natwest and passed it!:j,

As I've got a week off work I've got 5 viewing books after narrowing down the search on the internet last night and sorting out the viewings today at the estate agents.

There was no HLC or anything like that, not even a product fee. Only fee's will be the CHAPS and valuation fee and solicitors fee's, Natwest's deal certainly is the dog's nad's!

Just a few questions, I've got a flat on my list, first floor flat, very nice looking initially and very nice area. Price is £72,500 and I'm sure the estate agent said they would go down to £68k ish, it's a very modern flat but I've been told it's a waste of time buying a flat as you can't sell them later, any advice to give me on this one experienced moneysavers:P

Also do you know anything I really need to look out for when viewing properties (besides the walls falling down!), any extra tips,

King Regards

Ben