Naive mortgage seeker

tightasafish

Please be gentle with a first time poster.
Currently blowing my mind searching for the best deal on a £50k mortgage, for a £90k property, convinced that if I search just one more site I will find that elusive best deal that only a secret club of savvy mortgagees know about!
Anyway, couple of questions:

1. Am I right in thinking that if I am too lazy to think about changing my mortgage every 5 years, and I can absorb the odd couple of interest rate rises, then 'non-fixed rate' mortgages will probably be cheaper in the long run - based on the fact that I will probably be hammered after the fixed rate period is up?

2. Assuming that the answer to question 1 is yes,(ie I would be best suited to say a tracker), then can anyone tell me why everyone in my situation does not go for ING, with an APR of 5.2%, and no fees! Although I note that the only guarantee they give is that their rate will not exceed BOE Base + 0.9% (ie 6.15%). Have I just answered my own question, ie are ING cunningly sweeping up the whole of the market with the intention of hiking up their rate once they have achieved world domination?

3. Any other suggestions for best buys?

Many thanks in anticipation,

tightasafish

Mr_helpful

Whether you go fixed or tracker is down to your view of the economy and your finances.Fixed mortgages may be good in as much as you know what you are paying but at the end you might get hammered if rates have risen a lot but then you might not. You might find rates fall and leave you paying a high rate. On the other hand a tracker may go up as rates rise. Possibly the good bit here is they go up in small chunks, but then the rates could go down making things more cheap for you.
With a nme like tightasafish why are you looking for the best deal and then saying you are too lazy to be a rate tart later on? You should not be too lazy to get the best deal at the end of a current one.

AndyWallace

tightasafish wrote: »

then can anyone tell me why everyone in my situation does not go for ING, with an APR of 5.2%, and no fees!

Many thanks in anticipation,

tightasafish

They might earn less than £12,500.
They might have some adverse credit.
If applying jointly then the amount they could borrow may be substantially less than other lenders.

there's probably many other reasons too, it all dependes on the circumstances of the applicant(s).

This is a good deal though and currently difficult to beat.

Andy.

ginger_nuts

does anyone no how the interest is calculated on an ING mortgage .
Is it daily ,monthly or annually

DoshSaver

ginger_nuts wrote: »

does anyone no how the interest is calculated on an ING mortgage .
Is it daily ,monthly or annually

When you over pay it is applied straight away
http://www.ingdirect.co.uk/mortgages/our_mortgages/remortgaging/flexible.html
Info Sheet pdf file
http://www.ingdirect.co.uk/mortgages/our_mortgages/download_info_pack.html

and look here for more info in the treads about ING
http://forums.moneysavingexpert.com/showthread.html?t=393974

I am currently remortgaging with them and have had absolutely no probs