5 year mortgage deals and any opinions on CO-OP mortgages

englandcrew

Hi, We are looking at a five year mortgage and have found the co-op fixed until 31/08/2017 with an inital rate of 4.09 then a rate of 4.74%, LTV 85%(170,000 house price), this comes with fee of £999.

Are there any better deals? House price as above is £170,000 deposit is £25,500. Joint application with total income of £43,000. Due to rise to £45,000 in a months time. No credit history issues.

We will be going this alone without a broker unless we can find one of similar quality.

Are the Co-Op any good, anybody have any recent experiences using them?

Thanks

kawaton

What about Britannia.
4.29% for 63 months, then 4.6%.....same LTV..no fees

englandcrew

Must have missed that, I will have a look now. Thanks

kawaton

No worries. I'm tempted by it

englandcrew

Just found that deal. They are part of the Co-Op group.

I cant work out that deal, the one i quoted above is cheaper rate because you pay a fee, yet if you go with the one you mentioned the extra money you pay is less than the fee. stange.

Im just carrying out some research into Co-op mortgages and probably going to go it alone!

liubeliu

I have had a mortgage with Britannia since 2005 and product switched earlier this year. I have always found Britannia a pleasure to deal with both in Branch or over the phone.

However I have also had similar experience with the Halifax but that was pre 2005.

Hellybob

I second that. I've been with Britannia since 2005 too and they are great to deal with. I've just remortgaged for 5 years fixed with them.

englandcrew

Really appreciate the comments regarding Britannia, thanks for sharing your experiences.

Im hoping they dont have a very strict lending criteria

liubeliu

englandcrew wrote: »

Really appreciate the comments regarding Britannia, thanks for sharing your experiences.

Im hoping they dont have a very strict lending criteria

When moving home (twice), I have met with their Branch based advisors and both we very helpful with one actually saying that I should also seek advice from a inde Mortgage Advisor before making my final decision to see what else was on the market that might suit me better. My remortgages/product switches were both done over the phone.

latecomer

We have a Britannia mortgage which was a last minute change of mind due to a drop in rates of their product. Cut a long story short - we almost missed our exchange date as there was a problem with the paperwork (insufficient pay slips) but we were not notified about this and is was only because my OH phoned to check that the problem came to light. Much running around and panicing managed to get it resolved that day (last working day before Christmas!) but only just.

Apart from that (and the fact it was a 5 year fixed taken just before interest rates collapsed ) they have been fine.

robatwork

First Direct do a five year fix that, while a bit more expensive monthly than Britannia, comes with no fee and the usual FD flexibility. Unfortunately they put their rates up in the last month or two, they were market leading very recently.

HSBC are looking competitive too, but are constantly slated on here for customer service....