We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

First Direct Pull Low Fixed Rate - Does This Mean Rate Rise Is Coming

2»

Comments

  • bunty109
    bunty109 Posts: 1,265 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    We're 6 months off being able to end our mortgage tomorrow and I was banking on applying for the FD 3.89%! 4.29% looks pretty good (HSBC rate is better but you can't overpay as much and I need to look into what costs I would save by staying with FD)
    MFW 2019#24 £9474.89/£11000 MFW 2018#24 £23025.41/£15000
    MFi3 v5 #53 £12531/
    MFi3 v4 #53 £59442/£39387
  • Woby_Tide
    Woby_Tide Posts: 5,344 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Bear in mind that banks just set aside tranches of money for their mortgage deals. When they allocate it all, they pull the deal. Everytime a bank pulls a decent deal we get the same thread. It's almost 2 years since we took an A&L 3.99 5 year fix. When that was pulled it was seen as the end of the cheap deals. It's been proved time and again it wasn't.
  • If interest rates could be raised, the ConDems would have done so by now. The fact that they haven't should tell you just how dire the situation really is.

    The truth is that you don't need to get the BEST rate. Securing a reasonable rate should be good enough and over the course of your mortgage life (30 or 40 years typically) things will balance out probably.

    GG
    There are 10 types of people in this world. Those who understand binary and those that don't.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    If interest rates could be raised, the ConDems would have done so by now. The fact that they haven't should tell you just how dire the situation really is.

    Five year swap rates have moved significantly. Up .8% since last October.

    The danger is beneath the water not above.
  • alanshave
    alanshave Posts: 415 Forumite
    The next best deal is a 75% LTV at 4.29%!

    Interestingly I can now only see a 5 year deal (75% LTV) at 4.69%.

    Have the rates shifted again or am I looking in the wrong place?
  • johnbhoy10
    johnbhoy10 Posts: 452 Forumite
    edited 26 January 2011 at 6:18PM
    alanshave wrote: »
    Interestingly I can now only see a 5 year deal (75% LTV) at 4.69%.

    Have the rates shifted again or am I looking in the wrong place?

    No-i think you're right. The 4.29% is a 65% LTV.

    Arghhh! Decisions decisions!

    Not sure whether to book this 4.29% for 5 years or the 3.39% for 2 years. Personal circumstances changing in next 3 months for so a big decision for us. Maybe flip a coin. :D

    Will 'only' cost a booking fee for us of £99 so whatever i choose i'll probably be on in early July saying what a waste of cash that was.


    This question of how much can you handle if rates rise is doing my nut in.
  • leni
    leni Posts: 942 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    we're always gone for a discount tracker but have decided to go fixed as we're starting our family this year and my job looks uncertain. Rang FD yesterday and they are offering no valuation fees and no legal fees in Jan if you get the paperwork back to them by 14th Feb. But the first appointment (as their so busy) was 10th Feb - I managed to get one at 1pm yesterday though and have until Tuesday to book the 4.29% deal.

    We've paid up to 6.25% on a tracker so we're happy with a 5 yr fixed at 4.29%

    DEBT FREE for the first time in 10 years and with savings!

    1st Baby due May 2011 :o it's a BOY:j
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.1K Banking & Borrowing
  • 253.6K Reduce Debt & Boost Income
  • 454.2K Spending & Discounts
  • 245.1K Work, Benefits & Business
  • 600.7K Mortgages, Homes & Bills
  • 177.5K Life & Family
  • 258.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.