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Mortgage offer
maljo
Posts: 26 Forumite
My Nieces fixed rate mortgage comes to an end in November which is 6.65.
The new offer is 2.99 variable or 6.09 fixed for a further 5 years.
In the present climate could someone suggest which option would be best for a young family.
The new offer is 2.99 variable or 6.09 fixed for a further 5 years.
In the present climate could someone suggest which option would be best for a young family.
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Comments
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What is the outstanding mortgage amount and term?"You were only supposed to blow the bl**dy doors off!!"0
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I would have to find that out tomorrow as they would have gone to bed now. Thanks for now0
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What is the follow on rate(no fees) and the fess for these new offers?0
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Not sure about follow on fees.
The term was over 35 years and they owe £98000.0 -
What is the property value.
Who is the lender?
Any credit history issue?I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
As long as they have the ability to cope with any potential rate rises, the 2.99% looks the best option fo the time being.I am a Mortgage adviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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Is the 2.99 the standard variable rate? If so is it pegged to anything (Bank of England, LIBOR)? Also how are they off financially, would a rise in rates really be a huge problem for them? And what is their attitude to risk?
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