First time buyer cheapest fixed rate ?!?!

bondy2007

Hi
I am a first time buyer and looking to buy asap via a joint application with my girlfriend as we are expecting our first baby in 5 monthes.

We are looking to buy a property for £190000. We have £19000 deposit so are looking for 90% mortgage so therefore £171000.

We want a fixed rate mortgage for either 3 or 5 years but would definalty consider 10 years all depending on the interest rate.

So basically i want everyones advice on the cheapest interest rate everyone has came accorss.

The cheapest i have found so far include

Nationwide 5.34 % for 5 years
Derbyshire 5.10 % for 5 years
Brittannia 5.24 for 5 years

and a few other various lenders.

Also seen 2 lenders offering a very low rate fo around 2 percent which seems very low!

So any advice on cheap interest rate lenders and info on exit fees after fixed rate period is up would be great!

Thanks

kingkano

2% and the like rates will have absolutely huge arrangement fees, so check those. They do get their money somehow or other remember!! When comparing deals, remember to check EVERYTHING not just the interest rate. early redemption charges, arrangement fees, etc all change the effect of the deal. NOT just the headline interest rate.

Also remember you might not be able to get the market leading deals. These are generally aimed at people with 15-20% deposit and within the usual 3x income multiple. Does this describe you? Although FTB can get some good deals too.

Im sure a helpful advisor will be around soon to add