We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

is this a good mortgage rate/deal?

cece_3
cece_3 Posts: 68 Forumite
Part of the Furniture 10 Posts Name Dropper Combo Breaker
in Mortgages & endowments
hI GUYS DO YOU THINK i SHOULD GO FOR A 5 YEAR fixed deal at 5.44% with an application fee of £499 which can be added to the loan, with a monthly overpayment limit of £500. With free legal work and free valuation?

Comments

  • Mr_helpful
    Mr_helpful Posts: 3,233 Forumite
    Its not what we think that counts. We are not going to be paying it. The question is do you think its a good deal. Are you happy with it? If so go for it.
    I like to give people as many choices as possible to do what I want them to. (Milton H Erickson I think)
  • System
    System Posts: 178,426 Community Admin
    10,000 Posts Photogenic Name Dropper
    cece wrote: »
    hI GUYS DO YOU THINK i SHOULD GO FOR A 5 YEAR fixed deal at 5.44% with an application fee of £499 which can be added to the loan, with a monthly overpayment limit of £500. With free legal work and free valuation?

    Being a FTB myself it looks good to me !! where is it from ?
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • toonfish
    toonfish Posts: 1,260 Forumite
    hullmackem wrote: »
    Being a FTB myself it looks good to me !! where is it from ?

    nationwide - existing members I think
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it.
    This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.



  • johnydeath
    johnydeath Posts: 163 Forumite
    Part of the Furniture Combo Breaker
    toonfish wrote: »
    nationwide - existing members I think

    Not 'Brand new customers only' then??


    If you can avoid it I would not add the £499 to the mortgage - 5.44% of £499 over the 5 years plus whatever is left over the whole term must be a lot more than the fee.

    The free legal & valuation is a nice bonus.

    Edit - Looks like brand new customers only are stung for the arrangement fee, it is waived if you have been with them 3 years.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 354.2K Banking & Borrowing
  • 254.3K Reduce Debt & Boost Income
  • 455.3K Spending & Discounts
  • 247.2K Work, Benefits & Business
  • 603.8K Mortgages, Homes & Bills
  • 178.4K Life & Family
  • 261.3K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture