End of Yorkshire Building Society 5yr fixed

chris_elevate

Ahh... ok. Didn't realise the limit was being cut. Will look into that one!

Is there a way to look at lots of mortgage products in one go?

How do they work out the value of my house? It's been 220k for the last five years and we think it'll be about the same now.

Also... given the above amount we've got 113k left on the mortgage. As it's slightly over 50% LTV is it worth investing 3k to get it down?

Just trying to work out what to do.

Looks like nationwide will do 4.5% fixed for 3yrs

Or their tracker is about 3.2% atm.

Thanks for your help and advice

fraser

chris_elevate wrote: »

Is there a way to look at lots of mortgage products in one go?

here you go

http://www.moneymadeclear.org.uk/tables/

not all offsets are the same

I find the FD one the most flexible as it is treated as an interest only product so you have full flexibility, you can set the payment at a repayment level but that flexibility is there. I mention this as I looked at the YBS offset and it does not have the same flexibilities as the FD one

HTH

getmore4less

First Direct look like your starting point.


Just keep an eye on the wifes income and saving income use your ISA allowances and consider more pension contributions, they gon't have to be salary sacrifice to get the tax relief.

YBS offset look rubbish no proper low cost tracker

chris_elevate

Thanks for your advice guys.

Perhaps I don't understand offset mortgages properly... why would one of these be beneficial? What's the opinions on Fixed and Tracker these days?

A few facts highlighted...

1. It's a definite that I'll have £70k+ to put into the mortgage within the next year when the property I talked about sells and I inherit the money.

2. We're looking to overpay each month in order to get mortgage free asap.

3. We might move within the next 3-5 years to a bigger more expensive house where we'll want to have another mortgage.

4. It looks like we would manage a 50% LTV figure this time.

Thanks

dimbo61

Hi Chris!
I also have a 5 year fix with YBS but mine is offset at 4.74%
Now what happens to your mortgage after the fix ends?
Mine goes onto a tracker at 0.75% above base !!!! but with a 3% collar so 3.75% and we can overpay as much as we want.
Now the beauty about this deal is that it wont go any higher until the Bank of England base rate goes over 3% and your mortgage could be the same.
So give the mortgage centre at the YBS a call ( have your mortgage details handy)
You could ask about offset but dont give up that tracker deal if thats what your mortgage reverts to.
When the money does come to you then simply pay a lump sum off the mortgage and save the rest in ISA,s till you find your next property with a bigger deposit OR ! put the lump sum in savings and go house hunting and port your existing deal