Fixed Rate Going Down?

littlesos

stolt wrote: »

thanks for heads up on the derbyshire rate, seen this what i thought was a good rate... compared to others, slightly steeper application fee, and doesnt mention the survey fee, but thought that was a good rate.

'5 year' Fixed Rate- £999 fee

Application fee
£999
Minimum deposit
20%

Initial rate fixed until 31.03.2012

5.10%
Then, for the remainder of the mortgage term, changing to our Standard Variable Rate, currently
7.25%
The overall cost for comparison is
6.7% APR

valuation fee is £350, and there is no tie in at the end of the 5 years. We're just in the process of applying for their 10 year fixed rate (4.95%), there is a fee of about £1000, but I don't think that's bad for a 10 year rate.

stolt

littlesos wrote: »

valuation fee is £350, and there is no tie in at the end of the 5 years. We're just in the process of applying for their 10 year fixed rate (4.95%), there is a fee of about £1000, but I don't think that's bad for a 10 year rate.

yeah i agree when i saw that i thought that was good especially when i've looked around and havent seen anything close. trouble is i doubt they will lend me the 185k that i need!!!!

kingkano

Thats the only problem.... remember the headline rates actually fit a small category of customers (those with a low LTV, solid income etc). If this is you go nuts

littlesos

stolt wrote: »

yeah i agree when i saw that i thought that was good especially when i've looked around and havent seen anything close. trouble is i doubt they will lend me the 185k that i need!!!!

Yeah, we're in the lucky position of already having paid off one mortgage so we have a huge deposit (55%) to put down, and we're only borrowing less than 3x joint salaries. I know to get the 4.95& rate you have to have at least 20% deposit and I think their salary multipliers are quite tight.