New mortgage offer

kingstreet

No. There are loads of fee-free deals. You had a tracker and a fix in your opening post, so I picked a tracker and a fix to compare them with.

Woolwich, Newbury, Co-Op, Monmouthshire and RBS all have decent tracker deals with no fees.

Gavsterchef

No I stated that i was offered a fixed 2 year deal in my first post. Anyway saw one from first direct called the life tracker. No min term 2.39 above base rate but there is a 200 arrangement fee

mij544

Even further to the above, PMS have sent this email out in respect of the above Abbey deal and its replacements.


Dear Michael

Tomorrow, Friday 17 June 2011, will see the launch of four new fantastic Key Account semi-exclusive products from Abbey for Intermediaries! These will carry on with the '7 Day' trend - so act fast!

Your new '7 Day' products are:

2.89% 2 Year Fixed - 60% LTV - £995 Fee - Purchase - Product Code: N507H
2.89% 2 Year Fixed - 60% LTV - £995 Fee - Remortgage Only - Product Code: N507R
4.99% 5 Year Fixed - 85% LTV - No Fee - Purchase - Product code: K522H
4.99% 5 Year Fixed - 85% LTV - No Fee - Remortgage Only - Product Code: K522R

Click on the relevant product code above to download PDFs detailing more product information.

Product code N492H - 5.99% 2 Year Fixed - 90% LTV - will remain available.

Please note: Benefit packages still apply to the above products. Maximum loan size has been increased to £1,000,000 on 60% LTV products.

Remember - these products are only available for 7 days - don't delay, get your app in today!

As you will already be aware, at midnight tonight, Abbey for Intermediaries will withdraw their current 7 Day Key Account semi-exclusive products:

1.99% 2 Year Tracker - 70% LTV - Purchase & Remortgage - Product Code: V597H
1.99% 2 Year Tracker - 70% LTV - Remortgage Only - Product Code: U033R
2.89% 2 Year Fixed - 75% LTV - Purchase Only - Product Code: N498H
2.89% 2 Year Fixed - 75% LTV - Remortgage Only - Product Code: N498R
2.99% 2 Year Fixed - 60% LTV - Purchase & Remortgage - Product Code: N476C

For more information on the exclusive products available to you, please visit https://www.trustpms.com.

Kind regards


pms®

Gavsterchef

Thanks for the info above. My head hurts already I think I'm going to look at tracker mortgages with no fee and look to overpay if possible, one question running through my head is I have 22 years left is it best to remortgage for 22 years or go back to 25 (as the payments would be lower) and overpay?

mij544

All depends on you really!.

Assuming you are talking repayment only, if you go for a mortgage where you can make penalty free overpayments (most mainstream allow up to 10% per annum but if in doubt check the KFI) then there is no reason the term has to be 22, 15, 25 or 30 years (subject to age limitations).

A good broker will go through affordability with you, so you can see what you can comfortably afford and work backwards from that to find the correct term.

As long as you remember that the longer you drag it out, the more it will cost in the end.

you can always change it again next time you remortgage at the end of the rate expiry anyway.

hope this helps,

Mike

Gavsterchef

You've been more than helpful thanks