short term mortgage

neilo

Hi looking for a mortgage for 75% LTV

100% credit rating,employed etc so no problem there. but?

There is a good chance I might need to sell in 6-12months so do not want to be tied in with ERC and also need low/no fee if possible

any ideas were to try?


Cheers

maninthestreet

You need a bridging loan.

Peelerfart

Or just rent ?

neilo

Found this from First direct best so far

any better? or anything I missed on this one?

Fee Free Life Tracker 75% LTV 2.79%+ BoE base for the term of the mortgage

Current rate payable 3.29%

Peelerfart

Are you after a remortgage, or a new mortgage ?

neilo

Peelerfart wrote: »

Are you after a remortgage, or a new mortgage ?

A New mortgage

neilo

I found this seems perfect am I missing anything

HSBC Life Time Tracker Fee Free
OverviewMaximum Loan to Valuation (LTV)80%

Qualifying CriteriaNone

Interest rate4.19%

Discount off the HSBC variable rate-

Tracks the Bank of England Base Rate Plus3.69%

HSBC Variable Rate-

The overall cost for comparison is (APR)4.3% APRAPR stands for the Annual Percentage Rate of charge used to compare loan offers.

Rate periodTerm of the loan

Booking fee-

Maximum loan size available with this product£1,000,000

PortingYes

Illustrative monthly repayment£143

RepaymentExtended tie-in periodNo

Interest calculated dailyYes.

Unlimited lump sum without chargeYes

Unlimited overpayments without chargeYes

Up to 20% overpayment of your standard monthly paymentUnlimited over payments

Fees and ChargesEarly repayment chargesNo

Exit feeNo

starlights

Hello, I may be a little late on this thread but have just come across this fee free lifetime tracker myself and wondering if it's worth a gamble for a year or so. We are looking for a £45k 10 year mortgage and had initially decided to fix for 5 years, but the gambling side of me comes out occasionally and I wondered after reading about this if it is worth taking out as there are no exit or early rpayment charges so should be able to switch easily if I start to panic or have second thoughts. Any comments or advice would be greatly appreciated. Thank you.

Thrugelmir

Owing £45k. Even if bank base rose 3%, your mortgage repayments would only rise a £100 per month. Why fix at a higher rate than you need to?

Use the low rates to clear your debt. This diminishes the risk straight away.