MSE News: Mortgage rates hit new record low, but watch out for the fees

Former_MSE_Guy

This is the discussion thread for the following MSE News Story:

"Mortgage rates have been falling for months but borrowers have been warned to consider the soaring fees charged ..."

Read the full story:
Mortgage rates hit new record low, but watch out for the fees

ACynic

... as this can make a big difference if your circumstances change and you can't remortgage!!

A low fixed rate for two years isn't great if you then have 23 years of base + 4% (especially when base rates eventually return to their long-term average of 5%).

callmechar

ACynic wrote: »

... as this can make a big difference if your circumstances change and you can't remortgage!!

A low fixed rate for two years isn't great if you then have 23 years of base + 4% (especially when base rates eventually return to their long-term average of 5%).

your point is what put me off skipton's 95% mortgage....4.5% plus base rate is SCARY!!!

kawaton

Ive been on 4.13 + base for nearly 2 years. I wasnt scared. still not

poppy10_2

kawaton wrote: »

Ive been on 4.13 + base for nearly 2 years. I wasnt scared. still not

Base rate has been at historic lows for the last two years. Wait till they start rising again - I'm sure the fear factor will kick in eventually

kawaton

poppy10 wrote: »

Base rate has been at historic lows for the last two years. Wait till they start rising again - I'm sure the fear factor will kick in eventually

not at all. my tracker ends in 3 months. i don't think i have much to be scared off regarding rises in the next 3 months, do you?
As ive been able to overpay, i can now get some great deals.

As i said, was never scared, and still not.