Confused FTB - Multiple Mortgage Application Help

leosheree

Hi everyone,

Need your assistance. We are FTB with a 10% deposit. We are in the process of applying through a mortgage broker for the Abbey tracker for 2 years at 4.49 above BOE base rate. Abbey has already done a credit check and approved our application.

However, recently we have seen a better deal at Natwest - same 2 year tracker but 4.19 above base rate and Natwest offers the option of switching to a fixed rate deal 3 months after completion while Abbey would have an ERC.

Do you think its worth withdrawing the Abbey application and going for the Natwest deal? Will the credit search by Abbey severely affect our chances of getting the Natwest mortgage?

Many thanks

FTB

Thrugelmir

What are the product fees?

What are the APR's of the 2 products?

leosheree

Abbey's deal has £995 product fee, APR of 4.6%, free basic valuation and £250 cashback on completion.

Natwest has £0 product fee and APR of 4.3%.