Lender with the best 2/3 year discounted rate with no fees or penalties???

Attracted_to_BOGOFs

Hi, Can anyone help.

Im going round and round in circles, too much info, not enough understanding!

I presently have a discounted mortgage with the Haifax which is ready for ending now the 2 year discounted period is up.Ive been in to talk to them but unless I want a very very big mortgage they cannot offer me anything worthwhile.

Looking round the money supermarkets I think the Alliance and Liecester seem a good bet with a couple of 2 or 3 year discounted, fee free, no penalty mortgages on offer.
I will be looking for £32,000 for 11 years.

Has anyone seen any better deals? or should I be considering, a tracker, fixed or ????
I really dont have that much understanding of what is a good deal or a dead loss.

Any advise would be very much appreciated. I am soooooo confused

herbiesjp

What deals have Halifax offered? Don't forget you will have to pay exit fees to move away (different to penalty fees) - how much will they be?

What deals have you seen with A&L?

The choice between fixed or tracker (or other variable rates) depends really on your attitude to interest rates and your current and future affordability.

If you run a tight budget, and you need to keep track of all outgoings with certainty, then a fixed rate would be best. If however, you are happy to see if you can get a better tracker deal (which has the potential to move up and down with interest rates) and affordability for you is fine, then you could look at variable rates.

Just be careful, as at the moment it looks like rates could still increase. When and how much nobody knows.

HTH

peterg1965

Why get a discounted rate now? I would have thought going with a very competitive fix rate over 2/3 years would be a good idea with interest rates on the rise.

Mr_helpful

I think you have to ask a broker willing to advise without charging a fee. By todays standards this is a small mortgage so fees either broker or arrangement will habve a large impact. Whether you fix or stay discounted is down to what you are happiest with