Spec me a mortgage

mistasparkaru

Hello All,

It seems like rocket science to find a mortgage comparison site that shows the arrangement/booking fees upfront. They all seem to say £0 booking fee then when you read the small print it says £1999 arrangement fee :mad:


Here is my details
I'm out of my lock-in period.
My house was recently valued at £250K and I have £145K left to pay over 17 years.
I dont want any signup/arrangement/booking fees, a few £100 valuer/solicitor fee is acceptable.
I currently pay £950ish a month
I would prefer fixed but dont mind variable.

Does anybody have any recommendations?

ACG

See a broker?
Go and visit the lenders websites and see whats available?

Short of that, deals change all the time so any recommendations people give could be out of date by the time you get round to looking at them.

GMS

If an arrangement fee is justifiable in terms of what can be saved then don't automatically discount it.

A broker may well be worth a chat.

Which lender are you with now? Have they not offered you a new deal?

mistasparkaru

I'm with Nationwide, I did go into the bank to ask them about re-newing but they had no advisers in the area for two weeks and then it was while i was at work.

I tried with a local estate agent and he wasnt very helpful, he basically wanted me to do the research and choose a product then he would organised it.

ACG

Try a proper mortgage advisor, not one in an estate agents.
Have a look on google or see if friends or family know of any. Most will be happy for the business, unlike estate agents advisors who have appointments pretty much handed to them on a plate.

dimbo61

What does your mortgage revert to at the end of the fix?
Its not 2.5% is it ?
how long have you been with Nationwide ?
If you have a property worth £250K and outstanding mortgage of £145K then your LTV is less than 60%
Check what your mortgage rate is now and then look what is available
If it is 2.5% then your mortgage payment will drop to about £873 a month.

mistasparkaru

Half is at 2.5% and the other half is at 3.5% due to the unique way Nationwide let me keep and old product but not add to it.

Do you know who offers 2.5% with no fees?

GMS

mistasparkaru wrote: »

Half is at 2.5% and the other half is at 3.5% due to the unique way Nationwide let me keep and old product but not add to it.

Do you know who offers 2.5% with no fees?

Nobody has a rate so low without fees

getmore4less

mistasparkaru wrote: »

Half is at 2.5% and the other half is at 3.5% due to the unique way Nationwide let me keep and old product but not add to it.

Do you know who offers 2.5% with no fees?

Even with only 1/2 on the 2.5% tracker rate you will struggle to get anything better unless you have some specific issues where you need to fix and be prepared to pay more later.

latecomer

The Co-op ere doing a 5 year fix @2.79 for 60% LTV but its got £1000 fee - still the best rate going for a 5 year fix and low rate offsets the fee. Valuation and basic legals are included.

We've applied and are waiting to hear about the valuation which should have been done last week.