Advice Please! Mortgage deal ends July 2010

u02ja3

i think if you're on an svr then it's portable? We had to check ours as we'll be moving in the next few years i imagine. You could always try and get the 4.19 (that's much lower than any fix we could get, lowest offered was 5.99, same as we were on before) but keep it over the 23 years, that way you can still make overpayments that make it to the equivalent of having 17 years, if that makes sense? Eg, pay 500 a month over 30 years, but in reality overpay by 500 a month, paying in 1000 a month, which is equivalent to the term being about 17 years.
If I could've gotten a fixed portable of 4.19 i'd probably have taken it. i'm just hoping it'll take at least until the end of the year before there's any significant rate rise, by which time i'll have a better ltv. know what u mean tho, i's really hard to work out what the best thing to do is!

missma

I think she suggested taking it over 17 years as then would not be tempted to spend the money on something else. Then after the 2 year fix is up the term could always be increased. I think though when house is valued we will not get the 4.19 fix deal

Was also told Accord are a sub prime lender I can not understand why we were recommended them as we have always had excellent credit rating.

missma

Anyone any ideas of other deals around???

thanks

Doshwaster

missma wrote: »

Was also told Accord are a sub prime lender I can not understand why we were recommended them as we have always had excellent credit rating.

Hmm - interesting. I'm currently in the process of getting an Accord mortgage approved. I'd never heard of them before but I wouldn't like to think that I was "sub prime". I'm putting down a 27% deposit and the mortgage is less than 3x salary.

I was recommended them by two different IFAs. They weren't the absolute cheapest but was told they are easier to deal with than some other lenders who were slightly cheaper.

VIGILANT22

Accord used to offer sub prime......they're the intermediary arm of the Yorkshire Building Society...............now lending very poor due to income multiples.....