northern rock together rates

kingkano

we are looking at the northern rock together loan but I have read they are phasing out some of the product and pushing the rates up on the rest?

Does anyone have any inkling what they'll be pushing the fixed rates too (6.29 currently)? I thought everyone else was pushing their fixed rates DOWN so it sounds a bit suspicious really!

cheers

leannie_2

Bump...
As I am looking into a Northern Rock Together mortgage.

dwight-van-man

120% band was withdrawn and the 125% band was reproced at 120% level, meaning a rate drop, depending on the fee you pay. There are now four fee options - £1995, £995, £495 and fee save, some with and some without Help With Costs. The combination of fee and HWC determines the rate you pay. I'm not going to post all the rate combinations - they're all on the NR website, but bear in mind that if you are looking at a thrre year fix, the stepped fix is often a better bet IF you make use of the flexibility, ie overpay year one to the level of years twos payments, then underpay in year three to the value of your overpayments.

I woulds always advise speaking to a broker about Together...

kingkano

Luckily for us we managed to qualify the amount we wanted without together (we only needed less than 90% it was the income multiple that was tricky). The together rate only seemed to go up .1 but it was already quite high. The other rate we qualified on doesnt seem to have changed.

Everything else dwigh-van-man says is correct. And I definitely recommend a broker, which is how we did ours and probably played a part in the fact we got it on a straight regular rather than together Albeit we have to take 5yr+ fixed rate at not the best rate around. its a trade off...

/offtopic : I notice alot of banks you can 'slip thru' to the intermediaries pages hehe. slightly strange!