is this a good deal?

allybee101

That seems like a good interest rate for a fixed rate. Fee is fairly high. Mortgage advisor should be able to tell you what rate it goes onto after fixed term (usually becomes variable so is likely to fluctuate, but they will include this proviso).

I'm navigating the same minefield of FTB and mortgages.
I'm buying a shared ownership so I'm limited in where I can get a mortgage, and because my mortgage will be relatively small I don't get as good a rate.
One the one I'm applying for (with Abbey) the fee is £495, rate is 4.65% for 2 yrs fixed, going onto 4.49% variable after (although it does say in huge letters that this rate can change). Overpayment is 10% of mortage value.
As my mortage is small, a higher fee of say £900 for a rate that's 0.5% less isn't going to benefit me.
My broker is a great guy, very very helpful and sincere, and honest.

Kimberley82

My husbands income is 29k, I have just rang and it will go on to variable after the 2 years.

kingstreet

Reversion rate is Abbey SVR at 4.24%.

I'm not sure such a low mortgage warrants a fee of £995, although there's a valuation fee benefit and £250 cashback which reduces the impact of the arrangement fee.

A £55k mortgage over 25 years costs £257.68 on this product.

As an alternative, HSBC's fix at 3.59% for two years would cost £278 per month, but with no valuation fee and no arrangement fee it looks the better option, if you can get through their credit score.

It also has no exit fee (Abbey's is £225) and its follow on rate is less, 3.94%.