does at 85% LTV secure a better rate than 90% LTV

terrencetrentderby

lender will be Barclays?

bob2

Why don't you just look on their website?

The answer is yes - 85% LTV will get you a better rate than 90% LTV. 80% even better and will make more products available.

Not sure why you would choose the lender before knowing the rates. What if someone else can offer a better deal? Or are you an existing customer looking to remortgage?

terrencetrentderby

b!!! wrote: »

Or are you an existing customer looking to remortgage?

Iiiiiiiin one! Well in two I guess, as you assumed the worst first :beer:

thelem

Like b!!! says, I don't know why you don't just check their website http://www.barclays.co.uk/Mortgages/

They have quite a good mortgage calculator which shows lots of information about the mortgages they can offer and lets you increase/decrease the deposit so you can see what that does both to the rate and the repayments.

When I put in my details I was offered a 4 year fixed at 5.1% APR at 90% LTV, or a 5 year fixed at 4.7% APR at 85% LTV. You may prefer the 4 year fixed even with the higher APR though, and there may be other differences between the products.

Why does it have to be Barclays? I put the same figures in to Nationwide who offered a 5 year fixed at 4.4% APR at 85% LTV with a lower product fee. That took me two minutes and would save £23/month on a £100k loan. I'm sure there are even better deal if you look further.

terrencetrentderby

thelem wrote: »

Like b!!! says, I don't know why you don't just check their website http://www.barclays.co.uk/Mortgages/

They have quite a good mortgage calculator which shows lots of information about the mortgages they can offer and lets you increase/decrease the deposit so you can see what that does both to the rate and the repayments.

When I put in my details I was offered a 4 year fixed at 5.1% APR at 90% LTV, or a 5 year fixed at 4.7% APR at 85% LTV. You may prefer the 4 year fixed even with the higher APR though, and there may be other differences between the products.

Why does it have to be Barclays? I put the same figures in to Nationwide who offered a 5 year fixed at 4.4% APR at 85% LTV with a lower product fee. That took me two minutes and would save £23/month on a £100k loan. I'm sure there are even better deal if you look further.

has to be barclays as stated above because we are with them now and will be stung for a hefty ERC if we leave, point taken about their site I have found it thanks to your prompt & confirmation it is actually on there, my initial look didnt bring me to a rates page but am there now :beer:

thelem

terrencetrentderby wrote: »

has to be barclays as stated above because we are with them now and will be stung for a hefty ERC if we leave

Yeah, our posts crossed. Is your ERC only during the fixed term? If so, how much of that is left, and how bad is the rate? It might be worth waiting a few months on your current mortgage and then remortgaging once you've got the choice of the whole market. Rates might change in that time of course which is a risk you'd need to consider.

bob2

terrencetrentderby wrote: »

has to be barclays as stated above because we are with them now and will be stung for a hefty ERC if we leave, point taken about their site I have found it thanks to your prompt & confirmation it is actually on there, my initial look didnt bring me to a rates page but am there now :beer:

If you are currently on a fixed rate you may have to pay an ERC when switching to a new deal with your existing provider.

terrencetrentderby

b!!! wrote: »

If you are currently on a fixed rate you may have to pay an ERC when switching to a new deal with your existing provider.

already checked this out and happily we dont :beer:

kingstreet

Which means you'll be porting the rate you already have to the first part of your new mortgage. The new rate will only apply to any increase in your borrowing, but will be based on the overall LTV of the mortgage.

See if you can find a product which has a term which matches the residual term of your existing product, so that you can get a new deal for the whole mortgage when they end, rather than having two products constantly out of step with each other.