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where do i find a list of lenders/rates etc?

size of loan 58K
lenth to run 21 years
value of property 200k

6.64% (base rate) with skipton (at least it was 6.6% in febuary.

This is a self build mortguage, but the building was finished last year.

we have contacted skipton for a better (fixed?) rate.

we were offred a 2 year fixed that would save us £25 per month but there is a setup fee of £600

Im sure there is better to be had, and now i belive interest rates are going up again so need to dive in asap to avoid higher rates)

any advice welcome
ty

originally we were at a fixed rate, but for the last year weve been on this base rate.
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Comments

  • gehngus_2
    gehngus_2 Posts: 67 Forumite
    we have a mortguage but i think were paying over the odds?

    amount currently being borrowed 58K
    length to run 21 years
    value of property today 200k+

    we are on a 6.64% (base rate) with skipton (at least it was 6.6% in febuary.

    This is a self build mortguage, but the building was finished last year.

    we have contacted skipton for a better (fixed?) rate and were offred a 2 year fixed that would save us £25 per month but there is a setup fee of £600

    Im sure there is better to be had, and now i belive interest rates are going up again so need to dive in asap to avoid higher rates)

    any advice welcome
    ty

    originally we were at a fixed rate, but for the last year weve been on this base rate.
  • wardlaw
    wardlaw Posts: 124 Forumite
    The rates, will I think increase by 0.25% in May

    There are still a few good fixed rates around from lenders who will offer you both a free valuation, together with free lerals which is worth a considerable amount

    Most will charge an administration fee, which is usually a fixed amount ,as opposed to a % of the loan

    There are still a few 2 year fixed rates for around the 4.99% mark

    Your best mode of action is to contact an Independent mortgage broker, who has access to the whole of the UK market place and does not charge any fees:T:j :T :j :T :j :T :j :T :j :T :j
    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
  • MarkyMarkD
    MarkyMarkD Posts: 9,912 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    I don't believe that there are a few 2 year fixes for 4.99% without fees and with remortgaging incentives. In fact, I don't believe that there are any. Who is offering such a mortgage?

    Someone with a small mortgage like £58k wants one without fees.

    There's a full list of mortgages available on the https://www.fsa.gov.uk website (Comparative Tables) and sites like https://www.charcolonline.co.uk will also do a comparison for you - but both of these sites are poor because they don't give you a comparison of total cost over the 2 year period.
  • wardlaw
    wardlaw Posts: 124 Forumite

    There is indeed a number of lenders offering such a deal together with the incentives I wrote

    If there were not, I would not have posted it on the forum.

    I am currently processing no fewer than 5 such loans for my clients, with one for 4.89% No big deal It's what I do

    None have redemption penalties beyond the scheme closure

    Yes there are administration fees but I Mentioned this


    Don't contradict, me, I am an expert in my field with the whole of the UK market place I have just proved this, as you say there are no such lenders offering these mortgages (WRONG) suggest you research the market

    I charge no fees
    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
  • MarkyMarkD
    MarkyMarkD Posts: 9,912 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    If you want to quote someone, you should quote them correctly. I said
    I don't believe that there are any without fees.

    Most of the sub-5% fixed rates on the market have been withdrawn in the last week.

    Somebody borrowing £58k should NOT be buying a product below 5% only because it has fees. It is simply not good advice for them to do so.

    If I was wrong, you would have named a product which was below 5% and wasn't poor advice for a £58k loan.
  • MortgageMamma
    MortgageMamma Posts: 6,686 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    wardlaw wrote: »
    There is indeed a number of lenders offering such a deal together with the incentives I wrote

    If there were not, I would not have posted it on the forum.

    I am currently processing no fewer than 5 such loans for my clients, with one for 4.89% No big deal It's what I do

    None have redemption penalties beyond the scheme closure

    Yes there are administration fees but I Mentioned this

    Don't contradict, me, I am an expert in my field with the whole of the UK market place I have just proved this, as you say there are no such lenders offering these mortgages (WRONG) suggest you research the market

    I charge no fees

    Are you talking about the Alliance and Leicester products for the premier account holders?
    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.
  • HelpWhereIcan
    HelpWhereIcan Posts: 1,343 Forumite
    For God's sake people, the correct answer to the OP's question (look at the thread title) is

    have a look at https://www.moneyfacts.co.uk and http://www.fsa.gov.uk/tables

    followed by

    If you are not confident in making the choice yourself, need further advice or want someone to take the hassle away from you get some advice from a whole of market broker.

    Ideally use personal reccomendations to pick one or even something like the Yellow pages etc. No harm in speaking to more than one and always make sure to ask the questions Martin suggests in http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1101649966,86816#step2.

    Be careful of anyone who approaches you unsolicited and use the services of a face to face adviser unless you are confident enough to deal with someone via post & email.

    Hope this helps

    Good Luck
    I am an IFA (and boss o' t'swings idst)
    You should note that this site doesn't check my status as an IFA, 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.
  • toonfish
    toonfish Posts: 1,260 Forumite
    HWIC hits the nail on the head
    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.



  • MarkyMarkD
    MarkyMarkD Posts: 9,912 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    For God's sake people, the correct answer to the OP's question (look at the thread title) is

    have a look at https://www.moneyfacts.co.uk and http://www.fsa.gov.uk/tables

    followed by

    If you are not confident in making the choice yourself, need further advice or want someone to take the hassle away from you get some advice from a whole of market broker.

    Ideally use personal reccomendations to pick one or even something like the Yellow pages etc. No harm in speaking to more than one and always make sure to ask the questions Martin suggests in http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1101649966,86816#step2.

    Be careful of anyone who approaches you unsolicited and use the services of a face to face adviser unless you are confident enough to deal with someone via post & email.

    Hope this helps

    Good Luck

    I've already referred to the FSA's tables. IMHO the Moneyfacts ones are not very good.

    But thanks anyway for your very clear post.
  • MarkyMarkD
    MarkyMarkD Posts: 9,912 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Are you talking about the Alliance and Leicester products for the premier account holders?
    If wardlaw was referring to them, that would be pretty stupid as all A&L's fixed rates were withdrawn last week as was reported in all the newspapers to the public, let alone to expert mortgage advisers like him.

    Good suggestion, though, MM. :)
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