Any good 5yr fixes?

WoldView83

Hi

About to be a first time buyer, ideally looking for 75% LTV deals or under, (though there is a possibility of a bigger house with 80% LTV) for sum depending on house of between £75k up to £90k.

Because I'm a first time buyer who's a little nervouse because of all the reading I've done on the (flat lining?) economy, I'd rather fix than not fix, despite the much cheaper outgoings this would lead to in the short term.

Has anyone spotted any good or recommended 5 yr fixes?
The best I've seen so far is Yorkshire BS at 4.99% for 75% LTV or Leed BS at 4.89% for 80% LTV albeit with a lot of fees.

Many thanks!

HarrowArrow

WoldView83 wrote: »

Hi

About to be a first time buyer, ideally looking for 75% LTV deals or under, (though there is a possibility of a bigger house with 80% LTV) for sum depending on house of between £75k up to £90k.

Because I'm a first time buyer who's a little nervouse because of all the reading I've done on the (flat lining?) economy, I'd rather fix than not fix, despite the much cheaper outgoings this would lead to in the short term.

Has anyone spotted any good or recommended 5 yr fixes?
The best I've seen so far is Yorkshire BS at 4.99% for 75% LTV or Leed BS at 4.89% for 80% LTV albeit with a lot of fees.

Many thanks!

What you quoted look pretty good to me for 5-year fixes - just compared with my provider nationwide who only come up with 5.98% for 80%. To have better confidence, just hop on to www.moneysupermarket.co.uk and do a mortgage search - dead easy.:D

WoldView83

Thanks for the advice - yes, I think that's one of the website I'd got the info from!

HarrowArrow

WoldView83 wrote: »

Thanks for the advice - yes, I think that's one of the website I'd got the info from!

Sure, you should also check if overpayments are allowed, cos 5 years is a long time and you may find yourself earning more money in a few years and wanting to pay your mortgage off quicker.

Alisonb1975

Principality BS have a good 4 year deal. 4.69 with no fees at all. 75% LTV. Cant overpay at the moment so not that flexible but they have told me that they are looking at changing this soon.

I coundnt find a 5 year deal without any arrangement/legal/valuation fees so have gone with the 4 instead as everything included.

dimbo61

Have you considered the 5 year offset fixed with YBS at 5.09%
Then if you do have extra money you just pay it into the offset account or overpay the mortgage.
I am 4 years into a 5 year fix with YBS ( its offset ) and very happy with my decision! GOOD LUCK

dimbo61

On a £75K mortgage it would make a difference of £4 a month between the 4.99% deal and the 5.09% deal over the next 5 years ( not taking into account any offsetting )

WoldView83

Some great ideas here thank you (especially glad your maths is better than mine, I wouldn't have been able to work out the £4 a month difference!)

Meeting with independent whole of market broker at the weekend, so at least now I can go armed with some info!

Cheers