What rates are you on?

HappyBunny

nationwides BMR of 2.5%.

Don't forget penalties/arrangement fees if you plan to move.

ndbruton

Many thanks for all the comments that have been received.

Oh and lisyloo, the mortgage advisor is quite aware of my rate and I have stressed the fact that if they really don't feel this is something they can compete with then it's really not worth wasting either of our evenings. I do intend to look at payment protection, critical illness etc at the same time which is maybe why he has decided to come along after all

asandwhen

Ive just finished a 5 year fix paying 6.89%. I am now fixing for another 5 years at 4.19%.
I wish I had listened to my first mortgage advisor I would be paying 2.49% now and would have been for over 3 years

Lumox75

davenottingham wrote: »

I haven't seen anyone who has been on a worse rate than me for the past 5 years. 6.45% with ERC of approx £2700.
Probably the worst decision I made at the time.

6.69%

ERC of £3000 odd (3/5 years)

DpchMd

2 year fix @ 4.49%

Joe_Bloggs

Managed to offset the Nationwide BMR mortgage (2.5%, 2% above base) by investing in mostly Halifax fixed rate cash ISAs with a staggered maturity dates. Average rate 3.87%.
I only did this once Halifax put up their SVR.
J_B.

andy1886

My 5 year fix ends in November , 6.29% , balance of £60,000 monthly payment £605 . Daren't think of what I will be paying next year and what deal I will get , my equity is 60% so think I qualify for the best rates . Just need to spend the next 8 months getting my head around how these rates work , I obviously understand fixed rate , but no idea what offset means and tracker that reverts to .. just no idea !!! Any ideas where I can get an idiots guide ?

ejv

YorkshireBoy wrote: »

I'm 100% offset...and have been for 5 years.

So for the last 5 years, you have a saving as big as your mortgage and live in your house without paying mortgage or rent? cool...:cool:

Is there any reason why you wouldn't pay it off?

asandwhen

andy1886 wrote: »

My 5 year fix ends in November , 6.29% , balance of £60,000 monthly payment £605 . Daren't think of what I will be paying next year and what deal I will get , my equity is 60% so think I qualify for the best rates . Just need to spend the next 8 months getting my head around how these rates work , I obviously understand fixed rate , but no idea what offset means and tracker that reverts to .. just no idea !!! Any ideas where I can get an idiots guide ?

If your fix rate ends in November I would apply for a new fixed rate (If thats what you want) in around July as an offer lasts at least 4 months. I wouldnt expect fixed rates to change much between now and then so you could be looking at another 5 year fix of less than 4% saving you a fortune.

Offset means you can offset your savings against your mortgage meaning you only pay interest on what is left although you can still get at your savings.

Who is your current lender?

Gary123456790

3.49% for 2 years no fee (6 months in - have £97k oustanding and around 35% LTV)

Gary.