Low LTV mortgage

grevillelodge

I am looking to renew my mortgage (after a tracker rate has expired) and cannot find a good deal for a very low LTV mortgage ?

£62,000 mortgage on property value £450,000

Any tips to negotiate a deal or any good % rates for Low LTV mortgages about ? - It has to be a win win for the right lender based on the figures above ....

Thanks

Thrugelmir

HSBC offer good deals on low LTV.

GMS

Need much more info to give any indication.

Income, credit profile etc.

Speak to a 'Whole of Market' broker. Assuming income is sufficient and credit history is good you should pretty much have the pick of the market

kingstreet

Find deals that are as fee-free as you can get. If you get a bit of a cashback, that can help too. Then look for the best rate among them.

No point paying £1,000 arrangement fee to save £20 a month for two years.

Ideas;-

Britannia tracker at 2.49% with no fees and free legals.

Woolwich tracker at 3.09% with no fees, free legals and £300 cashback.

RBS fixed at 3.35% for two years with no fees and free legals.

Current account and other stuff required in some cases.

getmore4less

grevillelodge wrote: »

I am looking to renew my mortgage (after a tracker rate has expired) and cannot find a good deal for a very low LTV mortgage ?

£62,000 mortgage on property value £450,000

Any tips to negotiate a deal or any good % rates for Low LTV mortgages about ? - It has to be a win win for the right lender based on the figures above ....

Thanks

Whats the best you have found?

Saves people suggesting deals that are not as good.

What rate is your current deal on now?

grevillelodge

Currently on a Nationwide base + .5% tracker (lowest of the low) - So no chance of matching that anymore !!

getmore4less

Unless you want something different like a fix or more money you won't find anything close.

grevillelodge

Realistically I know the old days of tracker + .5% are gone but was hoping that on a low LTV someone would have a good offer - Surely this is the safest deal any lender could find ??

Have a good weekend !!

kingstreet

HSBC has a discounted product at 1.99% for two years. First Direct is offering a similar deal as a tracker. The arrangement fee is £999, valuation fee £281.

I can't find any reference to legal fees, so I imagine you get to pay them too.

You won't get that close to your current deal and the deals that are cheapest have large upfront costs you should avoid, as I mentioned.

Thrugelmir

grevillelodge wrote: »

Realistically I know the old days of tracker + .5% are gone but was hoping that on a low LTV someone would have a good offer - Surely this is the safest deal any lender could find ??

Lenders are in business to make profits there are not charities. So mortgage rates aren't negotiated. Once a LTV falls beneath a threshold such as 65%. Then the risk to the lender is neglible and changes little even as the LTV imprves further.

silvercar

grevillelodge wrote: »

Currently on a Nationwide base + .5% tracker (lowest of the low) - So no chance of matching that anymore !!

I'd stick with what you've got. Why move? Overpay if its allowed or save elsewhere if its not.