Best 5 year fixed rate mortgage?

ChuiMartinez

So the best 5 year mortgage i have seen is with co-op who are doing a 4.29% deal with a 999 fee.

There is a 4 year deal at abbey which is 4.99 but with no fee and 250 cashback. So depending on the loan size, mine is only 30k, this actually works out better.

Has anybody seen anything better than the 5 years at 4.29?

Also...is it quicker to get a mortgage via a broker or direct? I understand some brokers may have relationships which expediate the process.

Thanks

ChuiMartinez

anyone got any tips?

bazza1603

Hi,

ING rates for 5 years start from 4.19 with 60 LTV and £945 fees by looks of things

Regards

Barry

ray123

Britannia are offering a 5 year fixed at 4.19% (the same rate as Co-op?)
£999 Arrangement Fee.
http://britannia.co.uk/_site/channels/mortgage/products/5yr-fixed.html

That seems to be the best rate at moment.

You could try a mortgage broker as well to see what other deals may be available. I would also be curious to know if using a broker would speed up the mortgage appliation process.

lee636

Depends on your LTV, The Post Office is doing 90% LTV @ 4.75%.

ChuiMartinez

apologies i did miss a key detail. ltv would be 75% or 70% if it needed to be. will check out post office and brittania. thanks

loobylou232

post office 5 year fix at 90% ltv is actually 5.99%.

property.advert

For 30k it is hardly worth bothering. The fees add so much to small mortgages that you are almost certainly better off on a cheap discounted or variable rate.

ChuiMartinez

the fees are hardly exclusive to fixed rate deals. there is a brittania deal at 4.79 which has no fees. probably the best one given the stepped repayment charges as opposed to the fixed 5% with the post office.

cheekeemonkey

Britannia is owned by the co-op so likely to be the same rates.

4.19 is a goo deal at the moment - we were lucky and bagged the 3.99 over 5 years with Britannia.

Thrugelmir

ChuiMartinez wrote: »

anyone got any tips?

On a small balance owing and a good LTV.

I would opt for a First Direct tracker and overpay. Little point fixing as the potential savings are minimal.