first mortgage

geordie28

Hi folks

im now in the position to apply for a mortgage and have a quick question on advertised rates. im aware that a lot of factors can contribute to the rate i will get - credit history etc. i have seen RBS can do me a 5 year fixed with 4.4%. My credit score is excellent, no debts etc and 10% deposit. do these companys advertise good rates to get attention and then knock a percentage point or two when come to applying?

im worried that i apply and they offer me a more expensive/less competitive deal and i end up shopping around. i dont want lots of unneccessary searches on my credit file. if i have ticked all the boxes from my end

thanks

ACG

No they dont, that would be miss advertising.

geordie28

ok thanks ACG

bigadaj

Even if you have an excellent credit record you won't get the best deals on only a 10% deposit, increasing this will lower your best rates.

geordie28

i realise i would get a better deal if i had a better deposit. i have applied for a mortgage in principle at 4.5% on a five year fixed and got accepted. i appreciate it is not binding at this moment in time. Am i right to expect to get the same deal unless their standard rates increase by the time i put in an offer?
as mentioned i have done everything at my end and I cant see a reason why they would turn round and offer me a higher rate.