good deal on my mortgage?

pc_wizard

hi, i have just been offered a mortgage 2YR FIXED AT 5.79% ,this allows me to borrow up to 80% of the value of the property-does this sound a good deal ?
i am a first time buyer and have a good deposit only borrowing 65% of the value of the property.

shellnapier

im looking at the same - im having 5 yr fixed borrwing 90k, of a 135k house i think is 65% and im fixing for 5 yr at 5.65, for 2 yr i would be 4.99 so maybe not and i get 6months council tax paid for me

the-mortgagebroker.co.uk

Hi All,

I am an ex broker that no longer gives advice but I do promote the use of mortgage brokers and financial advisors.

The 2 tips I would give everyone are :

1 Dont get caught up with the interest rate, always look at the APR figure
2 Always get advice - the number of clients visiting our site (same as user name) in the last 3 months that have sorted out thier own mortgage and now regret not getting advice is about 65%.

Hope this helps

Weresmydosh

post office link words below as I am not permitted to post links being new.
money
facts
co
uk

_Andy_

To the OP - you don't state what the fees are.
Are you sure you only want to fix for two years?

PS ignore the spam from the desperate broker in post #3.

ror100uk

pc_wizard wrote: »

hi, i have just been offered a mortgage 2YR FIXED AT 5.79% ,this allows me to borrow up to 80% of the value of the property-does this sound a good deal ?
i am a first time buyer and have a good deposit only borrowing 65% of the value of the property.

I wouldnt necessarily say it's a good deal.

We've just fixed for 5 years with the Post Office at 5.2%, give them a try. It's been a fast, hassle free process taking 10 days from application to formal written approval.

We've borrowed £138k on a house of £175 so approximately 78% LTV. £599 arrangement fee, £470 for Homebuyers Report.

Roger