remortgages

shytalk2500

Hi
I've just been offered a ten year fixed interest repayment remortgage at 5.39%. Is that a good deal and should I accept it? :cool:

_Andy_

Absolutely no idea as we have no idea of your situation or the figures involved.

littlemrtinkle

need to let people know what your ltv is.

amount you intend to borrow
amount your deposit is
purchase price of property etc for someone to be able to help you

shytalk2500

Thanks for replies so far. I'm already living in the property and am just coming off a three year fixed and was looking for another deal until completion of the mortgage purchase term. Loan is for £90,000 house is valued at £200,000 and payments would be £640 a month at 5.39% Any good?

opinions4u

I'd have thought you could get slightly cheaper.

Is there a fee with that deal?

Have a look at www.moneyfacts.co.uk or www.moneysupermarket.com/mortgages to see what else is out there.

HSBC at 4.39% leaps out at me, but that has a £999 fee. Should be cheaper for you though.

_Andy_

Assuming you've got no adverse credit and income is OK you will have the pick of the market with such a low LTV.

shytalk2500

Thanks for your advice so far. Just to clarify further there is no set up fee and free legals and survey. I think its a good deal. Any comments please? :beer: Cheers.

dimbo61

The HSBC deal at 4.39% is for 5 years and fees £999 plus other costs ( unless included !!)
Use "whatsthecost" and put in figures for both deals
then go to details and go down 60 months and see how much you will owe after 5 years with both deals!
Dont forget to add the £999 fee onto amount borrowed.
Its what you owe at the end of 5 years that matters.
The 10 year deal does give you very long term security( can you overpay & what limits IE 10% a year)
GOOD LUCK

shytalk2500

Thanks for your advice. Having taken some from other people I have decided to take up the offer. I'm able to overpay 10% per year and have been advised that if I'm going to do this then the best time is in November/December prior to the banks recalculating in January.
Cheers :beer:

jstallan

Don't Abbey do a 4.99% for 10 years ?

Also noted Skipton do a 4.79% for 7 years, £895 setup fee, plus 10% overpayments on the original amount borrowed.

dimbo61

As you have decided to take the deal after lots of people telling you about cheaper deals all I can say is good luck and if you can OVERPAY by the 10% allowed each year.
Your mortgage could be so small in 10 years that you wont need to remortgage again.
Mortgage Free in 10 years !!