My mortgage rate

typeractive

Hi all!


Loan to value is 75%
I decided to go on a 3 year fixed rate as I’m a FTB and want a bit of stability.

The rate I have is 4.98% over 25years.
Fees are £517.50 of which £250 is up front.

Do people think this is a good rate given the terms? Or are there better 3 year fixes out there at 75% LTV? I have the agreement in principle.


Many thanks :beer:

trynsave

Just a quick use of tesco compare gives these.
http://www.tescocompare.com/mortgages.shtml
Stick your details into a good website and find your results. With a good amt ofresearch you will be sure that the deal you sign up to is the best for your personal circumstances.

Scheme details Initial rate4.49%4.74%4.59%4.69% Mortgage scheme type/termFixed for 3 yearsFixed until 30/09/12Fixed until 30/09/12Fixed until 30/09/12 Subsequent rate (variable)3.69%3.94%4.99%4.99% Overall cost for comparison 4.0%4.2%5.1%5.1%Early repayment charges Early repayment charges3% reducing to 2% for 3 years2% reducing to 1% until 30/09/123% until 30/09/123% until 30/09/12Basic underwriting information Purchase or remortgageBothBothBoth Both Max LTV75.00%75.00%75.00%75.00% Higher lending charge threshold-90%90%90% Minimum loan size£30,000£10,000£25,001£25,001 Maximum loan size£400,000£-£-£-Features & benenfits Flexible featuresOverpayments, Underpayments, Payment holidays. Offset20% overpayment p/m10% overpayment p/a10% overpayment p/a Help with costs Cashback---- Other details Interest charge intervalDailyDailyDailyDailyFees Arrangement fee£99£0£295£295 Fee can be added to the loanNoNoNoNo Valuation fee£140£135£230£230 Legal feePayablePayablePayablePayable HLC Fee£0£0£0£0 Insurance fee£0£0£0£0 Telegraphic transfer fee£0£30£30£30 Exit fee£149£0£0£0 Other fees£0£0£0£0Total cost Monthly payment£416.04£426.73£420.30£424.58 Scheme Length36 months36 months36 months36 months Total cost over scheme£15,365£15,527 #£15,686 #£15,840 # Average cost per year over scheme length£5,121.67£5,175.67£5,228.67£5,280.00

siliconbits

typeractive wrote: »

Hi all!


Loan to value is 75%
I decided to go on a 3 year fixed rate as I’m a FTB and want a bit of stability.

The rate I have is 4.98% over 25years.
Fees are £517.50 of which £250 is up front.

Do people think this is a good rate given the terms? Or are there better 3 year fixes out there at 75% LTV? I have the agreement in principle.


Many thanks :beer:

The rate you have is 4.98 percent for 3 years then it should revert to a variable/tracker, which means that it can shoot to anything over or below that. Correct me if I am wrong. Otherwise, if you REALLY have a 25 year fix at 4.98... I am in l-)

typeractive

siliconbits wrote: »

The rate you have is 4.98 percent for 3 years then it should revert to a variable/tracker, which means that it can shoot to anything over or below that. Correct me if I am wrong. Otherwise, if you REALLY have a 25 year fix at 4.98... I am in l-)

heheh, you are indeed correct. I just stated the mortgage term just for further info. I'm going to look at the tesco compare site as it's difficult to understand that first reply.

I guess not having people jump on here saying how bad it is - maybe that's a good sign?