Best 75% LTV 5 yr fix on the market?

suisidevw

It is time to remortgage, and our Natwest Mortgage is going to drop to the SVR of 4%.

At present, after looking at the 'usual suspects' and the MS search tools, the best rate I can see for a 5yr fix is the 3.99% with £995 fees with YBS.

Some info below:

Mortgage balance. £165k
House value: £240k
Joint income: £51k

Does anyone know of anything else out there at the moment that 'beats' this for the rate?

We are keen to enter into this long rate, as we are looking to have children in the near future and are keen to know exactly what we pay for an extended period. We have cash available to pay for the fees.

Any help/advice appreciated.

Thanks,

handytips

YBS have the cheapest rate, but that doesnt mean alot really, it also has a valuation fee ?
There are better 5 year fixed rates out there with little or no fees that would be more cost effective to you over that 5 year period.

suisidevw

Thanks HandyTips. I worked out the mortgage over the full 5 years and included the £995 fee and it still appeared cheaper.

Could you advise on mortgages that would be more cost effective, as I've clearly missed them.

Many thanks,

kingstreet

Based on the size of the mortgage and the duration of five years, the impact of fees is lessened. Hence, the Yorkshire deal still costs less overall.

However, if you were going for a mortgage of under £100k, and taking a two year product, chances are you'd be better off with a fee-free deal, as there's less interest and less time to recover the fee payments.

suisidevw

Thanks Kingstreet. I guess the payment of the fees immediately as opposed to adding onto mortgage is the correct course of action if the money is available too........

kingstreet

suisidevw wrote: »

Thanks Kingstreet. I guess the payment of the fees immediately as opposed to adding onto mortgage is the correct course of action if the money is available too........

Absolutely. If you have to add fees, pay them off as quickly as possible as interest is being charge all the time they're added.

handytips

Hi susie
Glad to be of help, good luck with your application with YBS, let us know how you got on, it may take a while for you to answer that question.!!

suisidevw

Because it's an indemand mortgage, or just because it's YBS?!?

dimbo61

I like YBS been a customer for last 6/7 years and I also like there offset mortgages now they do a 5 year offset fix fee £995 for 4.09% and this might suit you if you can build up savings/overpay for the next few years before hopefully the family arrive.
The 0.1% increase maybe worth the cost for you!
They do "family and friends" which might also be good for you.
Just something to think about as much more flexable re overpayments and offset pot( emergency savings)

suisidevw

Thanks Dimbo, very helpful. TBH, it wasn't something I'd considered but will look into it now.

Thanks,

getmore4less

suisidevw wrote: »

Thanks Kingstreet. I guess the payment of the fees immediately as opposed to adding onto mortgage is the correct course of action if the money is available too........

Why is there money to pay fees?

You only looked at saving interest on the fees on the new mortgage by not adding fees.

If this money is avaiable to pay fees it is available to pay a bit off the mortgage now and save even more interest.