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northern bank and offset mortgages
ollski
Posts: 943 Forumite
I've been searching around tonight and found a couple of deals that sound almost too good to be true so I'm looking for the details of what I must have missed. Both mortgages are provided by northern bank, the first one is a 90% current account mortgage with a permanenet interest rate of 2.99%. The other is a standard variable at 4.35% for term but with a 100% ltv.
I'm particularly intrigued by the current account mortgage can anybody simplify it for me and point out the pros and cons, thanks.
I'm particularly intrigued by the current account mortgage can anybody simplify it for me and point out the pros and cons, thanks.
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Comments
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Just had a look on the Northern bank website and the 2.99% tracker !!!! deal is for LTV below 75%.
So its 2,49% plus the Northern Base rate which is 0.5% AT THE MOMENT.
Now you also need to bank with them Current account
Fee is £799 plus legals etc.
The cost of a 90%LTV is 3.89%
Now they also do fixed rate deals of 2/3/5 years but you need at least 25% deposit
The variable rate mortgage over 95% is 4.49% and this trackes the BOE + 3.99%0 -
sorry these deals were not on the site they were both available for first time buyers only through money.co.uk0
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Do you live in Northern Ireland? I can only see a 4.98% fixed rate which does indeed give a 100% LTV for FTB, however it says it only applies to NI customers.0
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No but I'm looking at this one 'Standard Variable LTV 90% Direct' which I know is 90% but it says 100% LTV available for first time buyers. 4.35% term0
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Can't get that link to work but if it is this
http://www.money.co.uk/mortgages/mortgage-details/Northern-Bank/Standard-Variable-LTV-90-Direct.htm
then if you look at application criteria it says the following0 -
Can't get that link to work but if it is this
http://www.money.co.uk/mortgages/mortgage-details/Northern-Bank/Standard-Variable-LTV-90-Direct.htm
then if you look at application criteria it says the following
You do appear to have discovered the flaw
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