barclays base rate tracker ANY GOOD ?

Joe_Bloggs

I got through to a mortgage adviser within 5 minutes and had a good chat about their Barclays Bank Base rate in comparison to the Bank of England base rate. They are the same at the moment. Who is to say when they will different and what conditions will prompt them to change their rate. Variable rates are a gamble. You could win or lose if they go up or down relative to fixed rates. Similarly house prices could yoyo. Perhaps the key is to build up buffers of savings that can protect your lifestyle from the trauma of interest rate and house price fluctuations.
J_B.

pipee

I guess as they are using the Barclays Bank Base Rate this would put me off as they have control over it, they could raise it whenever they liked. At least with the BOE base rate you know where you stand.

Photome - have you seen the Britannia deal which is BOE + 0.05 for 2 years with only £99 fee?

zag2me

Sounds like a great deal to me, I'm on the egg tracker mortgage and that is .99% above the base rate.

James_H

The Barclays base rate has been exactly the same as the BOE base rate for at least the last fifteen years and is unlikely, though not impossible, to diverge in up to the next 25 years that a new mortgage would last for.

The Barclays standard variable rate that is often referred to does NOT track the Barclays base rate exactly and although Barclays/Woolwich have done recently, before the merger the movements have not always been in line.

isayoldchap

photome wrote:

My fixed rate is about to come to an end and my current lender is not coming up with anything very good.

I have had a look around and I am leaning towards the Barclays/woolwich base rate tracker.

It is 0.19% above barclays base rate for the term of the mortgage so it is currently 4.69%.

No set up charges and no early repayment charges, what are other peoples views on this please

Have you looked at the A&L rates.Fixed for 5 years 5.14%.No tie ins after that.As a new borrower they will charge £499 but if you open a premier account it appears they give you £250 back.
This is just another option as I am looking for a better deal.
Another thing -shop around for your life cover as there can be big savings to be made.

photome

isayoldchap wrote:

Have you looked at the A&L rates.Fixed for 5 years 5.14%.No tie ins after that.As a new borrower they will charge £499 but if you open a premier account it appears they give you £250 back.
This is just another option as I am looking for a better deal.
Another thing -shop around for your life cover as there can be big savings to be made.

That A&L fixed rate was 4.84 until 2 days ago, that is who i am with at the moment

isayoldchap

photome wrote:

That A&L fixed rate was 4.84 until 2 days ago, that is who i am with at the moment

My deal runs out 30/6/06.I spoke to them and they said that if they made me an offer it would need to be a 5.14% as the rates had just increased.

Oh and the offer has arrived.Seems well simple to do.This is if you are not asking for more money.Just sign the deed of variation and return within 28 days.Mine then starts 01/07.No tie in after 5 yrs.There is a £499 booking fee to pay.It also let's you repay a small amount every year.

I used the telephone number on https://www.saynoto0870.com going under the 'A'
letter.Don't ring them on the 0870 number use 0113 2541566.
You will then be put through.

They have already given me a cracking 2 yr fixed with no charges to join in 2004.Now 5 years at around £446+ per month(65k approx 19yrs approx repayment)On top of that the mortgage life for both of us is only around £9 per month'which I arranged seperately through a website(2004) myself.What am I going to do with all the money I am saving?