New Fixed Rate Dilemma

Jacka87

I could not get a mortgage a couple of Months ago when fixed rates where cheaper as I had a probation period at work. I have now been contacted about the re-mortgage and the rate is now up around 0.5% on what it was.

I was thinking of going on either a 5 or 10 yr fix and can just about afford the cost of the 10yr and I am delighted to have the security as I am a recent graduate and plan on staying put at work and also in the flat for between 5-10yrs.

I am slightly worried about the portability and also concerned about there being better deals out there?

Anybody know of the best deals other than fsa tables and anybody know if rbs are generally quite good with there portable arrangements.

PS does anybody know if the undervaluing practice from banks is still pretty likely at the moment with property prices supposedly rising 3 out of last 4 months???

Jonbvn

Jacka87 wrote: »

PS does anybody know if the undervaluing practice from banks is still pretty likely at the moment with property prices supposedly rising 3 out of last 4 months???

It is not undervaluing it is realistic valuations!

Jacka87

Ok I appreciate there are reduced valuations due to the property price crash/slump. However on many occassions I have heard & seen valuations come in well below that of similar properties that have just sold on the same street. I am not talking about 10k here or there.

An example was a post on here where the house next door sold for 285k or something or other and they valued his house 70k less! That is not realistic if the house next door had just sold is it?!

I know for example that my property was bought as a repossesion so a chunk of the loss should be covered by that. I also know that I did not pay for the arking space that I have and one of those just sold with an minimun asking price of 15k tho they where looking for 17 so that should also absorb some of the loss.

I am asking if there is still really undervaluations, since the house prices have now aparently rose 3 out of the last 4 months?