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Fixed rate- good deal?
LellyMc
Posts: 21 Forumite
Our existing fixed rate mortgage has now expired and we have been offered a continuation until 2014 at 4.7%. In the current market is this a decent rate or not?
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Comments
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What is your Loan to Value?I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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Sounds reasonable enough for what is around a 3 year deal. Plus will you have the added bonus of no set up fees and not incurring exit fees?
I'm sure there may be better deals around but as GMS states it really depends on your LTV ratio.0 -
shortchanged wrote: »Sounds reasonable enough for what is around a 3 year deal. Plus will you have the added bonus of no set up fees and not incurring exit fees?
I'm sure there may be better deals around but as GMS states it really depends on your LTV ratio.
Looks like its a 4 year deal according to the expiry date, so even better still, I'd go for it.
Everybody's Normal Till You Get to Know Them.:D0 -
southantrim3 wrote: »Looks like its a 4 year deal according to the expiry date, so even better still, I'd go for it.
It depends really if the deal is until Jan 2014.
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Just to clarify- the offer is until December 2014
fixed rate of 4.19% with an overall cost comparison of 4.7% APR and no application or completion fees0 -
Slightly better rates available but you are paying no fees.
If you are happy with current lender and happy with the new payments then why change?I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Just to clarify- the offer is until December 2014
fixed rate of 4.19% with an overall cost comparison of 4.7% APR and no application or completion fees
Sounds like a good deal actually.0 -
Thanks everyone-your replies are much appreciated0
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Yorkshire 3.89%, fixed, 5 years0
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