Mortgage help appreciated 5 years fixed

guitaruser

Hi,

I'm new so Hello

I am looking for the best 5 year fixed rate mortgage.

The best I have found so far is the Alliance and Leicester @ 4.99

I am currently with nationwide but there fixed is @ 5.29 (I think)

Is there any better deals out there to be had?

Info. Just about to buy a new house..........150k morgage required for 180k house. (No tie ins at all with nationwide as fixed rate just finished). Ideally 23 year repayment.

Thanks in advance steve

herbiesjp

There are several lenders offering similar rates - it just depends on the fees you want to pay, and eligibility for the schemes.

payless

and make sure you compare like with like

( in particular on a repayment mortgage- check the actual repayments schedules - as will be affected by how the lender calculates interest - annualy/ daily)

Joe_Bloggs

It's 5.19% for two, three and five years fixed with the Nationwide. Have you tried http://www.fsa.gov.uk/tables ?
They were offline over the weekend but are up and running now. You should be able to find your A&L offer on there and find others. There are powerful filters to remove the dross.
J_B.

simonjfisher

Don't rely too heavily on the FSA tables. There was an article in the trade press this week highlighting many inaccuracies. They're a good starting point though...

somemortgageanswers

Guitaruser - thats a pretty good scheme you have found. I agree with all the comments on this board and Herbie is right - there a quite a few you could qualify for.

You could look at the FSA tables - but my advice would be to talk to an independent broker such as London & County who will point you in the right place, do all the paperwork and wont charge you a fee - let a professional sort it for you.

payless

sorry but as far as I know L&C can not be classed as independent (under FSA rules) , as they do not offer a fee only option ( with rebate of all the commission) - only commission based advice

guitaruser

Thanks for all the advice!

Joe_Bloggs

@SimonFisher and all
I have not really noticed the alleged errors in the FSE tables website. The FSE information provided is vast and I have no access to the trade press.They do seem to pidgeon hole everything however for comparison. Is there a mechanism where financial savvy folk can review the output of the FSE tables and provide feedback to the FSA?
J_B.

Hobo_2

Cheshire 4.98 5yr Fixed

http://www.thecheshire.co.uk/mortgageproduct/fax.asp

whatif_2

SimonFisher is correct about the errors on the FSA website - I'm the one who reported it to the FSA and the industry mag "Mortgage Introducer".

The annoying thing is that the FSA have done nothing about it!!!