Whats the Best Mortgage, ING Direct?

tomreid10

Hi

Thought I'd check with the forum before I make a final decision

We have chosen a house we like and have a 40% deposit. So we are borrowing around 114 400 on a 200K property.

A London and Country have found me a 3 year fixed repayment over 20 years with nationwide at 4.09% with a 99 pound arrangement fee.

I've also found a sightly better deal with ING direct at 4.05% with no arrangement fee.

I've had a loo at moneybackmorgages but am not sure I am money savy enough to do all my transacting there.

I've looked at the other lenders that the main article in the moneysavingexpert website says the whole of market brokers miss.

So after doing all that the ING Direct deal seems marginally the best one.

Anyone got any more ideas?

Or anyone got any experiences of ING Direct they want to share with me good or bad?

cheers

pauljoecoe

Have you checked out First Direct?

I found a good deal there on an offset mortgage, which is a good route if you have some savings aswell. They have great customer service too.

neverdespairgirl

First Direct have a 3 year fix @ 3.99% (£199 fee) and a 5 year fix at 4.59 %, (£199 fee)

tomreid10

Yes had a look, from memory their interest rates are slightly higher and they didn't advertise a 3 year fix. Hadn't thought about an offset option, but the purchase will probably cut into our savings a lot.

cheers

Tigerite

There's also YBS who have a 3.99% fix for 3 years with a £95 fee (or 3.59% but the fee is much higher then at £1,995) and only require 25% deposit. I have been impressed with their service, they only took 16 days from receiving my application to approving their mortgage offer and that was with about a 7 day delay for their underwriters to decide that they couldn't use my dividend statement as proof of income! They also have a 5 year fix at 4.19% (£1,495) or 4.49% (£95).

ruggedtoast

I have found ING to be very good so far. Minimum of hassle, very efficient, and a handy web tracking thing.

tomreid10

Hi

On the face of it the Yorkshire is the best deal, but I see two different fees:

Mortgage Fee: £90 (payable on redemption of your mortgage)

and

Product Fee: A £95 fee is payable on application and is non refundable

Not really sure what the £90 one means?

cheers

Tigerite

tomreid10 wrote: »

Hi

On the face of it the Yorkshire is the best deal, but I see two different fees:

Mortgage Fee: £90 (payable on redemption of your mortgage)

and

Product Fee: A £95 fee is payable on application and is non refundable

Not really sure what the £90 one means?

cheers

The £90 is payable when you repay the mortgage in full, or switch to another provider. They're pretty standard and are explained here.

glitzy

have just tried to remortgage with ybs, but they could not offer me enough. Husbands wages £23,485, mine £16,000 - they offered between £71,000 to £86,000. My house is £220,000 wanting to borrow £76,000 repayment & £30,000 interest only as I have a separate endowment for the £30,000. our problem is we have 2 cards at 0% total £3840 & 1 card at 2.9% for life of £4,700, which they then calculate at 36% - apparantly ybs is very strict in their calculations - will we have this problem with everyone, was going to try nationwide next.

Biffins

Get a BOE + 1.5% = 2% tracker and you'll pay less over the 3 years for 95% of the case. The caveat? it's 95% not 100%.

glitzy

thinking we might have to stay with existing mortgage lender woolwich/barclays - there is a bbbr + 2.70% capped at 5.99% til 2016, i think bbbr is .5% - ybs might of done me a favour, cos i wanted to go for a lower rate but was worried how high they will go in the 5yrs, but if it will be capped at 5.99% - does that mean total rate or bbbr + 5.99% - bbbr is barclays bank base rate.