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FTB - 5yr Fixed Rate
wilksy007
Posts: 43 Forumite
Hi Everybody,
I am a first time buyer and have just (Yesterday) had an offer accepted on a house.
I'm looking for a 5yr fixed rate, the best rate I can find at the moment is 4.69%...
http://www.ybs.co.uk/mortgages/current_products/products/5yr_fix_01.html
Am I missing anything when looking at this Mortgage? The SVR seems quite high after the initial 5yrs, but I would imagine I'll just swap to a fixed rate with another lender.
House Price: £157,500
Deposit: £45,500
LTV: 72%
Does anybody know of a better deal?
Many Thanks,
Mark
I am a first time buyer and have just (Yesterday) had an offer accepted on a house.
I'm looking for a 5yr fixed rate, the best rate I can find at the moment is 4.69%...
http://www.ybs.co.uk/mortgages/current_products/products/5yr_fix_01.html
Am I missing anything when looking at this Mortgage? The SVR seems quite high after the initial 5yrs, but I would imagine I'll just swap to a fixed rate with another lender.
House Price: £157,500
Deposit: £45,500
LTV: 72%
Does anybody know of a better deal?
Many Thanks,
Mark
0
Comments
-
There's not much point paying attention to the SVR, particularly on a 5-year fix because interest rates will not be the same in 5 years time, and if they are then...0
-
Well the good news is you are ? a FTB you have no stamp duty to pay so that saves you £1575.
I am with YBS on an offset mortgage
Your £112K mortgage would cost you £634.67 a month ( over 25 years?)
and after 5 years you will have paid off about £13,300 ( whatsthecost)0
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