which mortgage lender?

kerryi27

I have been speaking to 2 mortgage advisors, 1 is advising wait a few days for new offers, the other is offering Legal and General 2 yr fixed Abbey rate at 3.99 with 549 arrangement fee , free valuation and 250 cashback

I have been looking around myself tonight and have discovered better deals

1. Leek Variable 2.95 with £195.00 fee and no ERC (am I right in thinking just go for this then jump ship when (or if) rates start to go up?

2. 3 yr fixed Leek 3.90 £495.00 arrangement fee valuation £200 OR similar deal HSBC

or

3. 2 yr fixed with Britannia , Co-Op , Ing or Post Office, again all similar deals from 3.19 - 3.24 with approx £945 arrangement fees.

Would you say the Leek Variable would be the best option?
Also, does anyone know who it would be easiest to qualify with?

We have already got a mortgage in principal for a tracker with Northern Rock at 2.8 but I am worried about the payments going up.

I am borrowing 75% LTV , property is 178,500 putting 45k deposit.
Thing that concerns me is that my husband is self employed, he has 6 years accounts 22k year profit average. He also only has an overdraft ,mobile and sky tv bill, and never had any other credit. My earnings are 15k employed.

Should I take a risk and apply for one of these myself or bite the bullet and get the higher rate and stay with mortgage advisor, as I hear they have more clout with the lenders.

Sorry about the long post.

kerryi27

sorry, forgot to add, my husband is first time buyer, I am not, and I have a 3k credit card

player

Our situations are strangely similar, and I have paradoxically been drawn to the same deals by Britannia, the PO, ING and tonight I have been reading up on Leek BS offerings.

I run my own company, I have a 25% deposit, me and my partner are both FTBs. uncannily similarities.

I cannot offer any advise other than these are the same deals that I am leaning towards. I prefer the fixed rate deal (for security) but IMHO I think the variable (discounted) deal will offer better value over the course of 2 years, also taking into consideration the arrangement fees are lower.

But having never had a mortgage I am completely naive as to the sensitivity of SVR changes with regards to any change in the base rate.

kerryi27

my only concern is that if I go for the Leek discount then rates start to rise in first year, what are the fixed deals gonna be like, they will go up also and the deals are really good at the minute. But then when the fixed deal ends, the fixed deals will also be higher, if that makes sense. Lol Decisions, decisions...

I am mostly concerned though about applying and getting knocked back, as then you have made a footprint in your credit rating, which I have been advised is a big no, no

Does anyone have any info on which of these are the easiest to be accepted?

kerryi27

a bit more info, I stupidly went and got a Dorothy Perkins store card so thats another credit search.

Any mortgage advisers who can help me