Which member has the best mortgage rate?

Jonbvn

notanewuser wrote: »

I'm technically on 0%!!!

Disagree. You are on a rate equivalent to opportunity cost of the amount of money you have offset.

payingitoff

Very jealous of you all!

We fixed for 5 years aoput a week before the crash haha!

5.59% fixed until November 2013 - by then I bet all the good rates will have gone back up :rotfl:

notanewuser

Jonbvn wrote: »

Disagree. You are on a rate equivalent to opportunity cost of the amount of money you have offset.

As there are no savings accounts offering the 9.2% interest needed to match 5.5% there are no better opportunities!!

notanewuser

Mortgageman reported for :spam:

webmasterpolo

Well 0.5% seems to be the best so far ignoring the fully offset option which is great too. I was offsetting some of mine then when the rates fell so far I earn more in my savings account than I save on the mortgage - never thought that would happen!

I was wondering if we would have anyone who had a base rate minus X mortgage who was paying 0% if they got away without a collar.

Interesting to see how the world has changed I thought, some excellent advise to switch away from fixed rates for the first time in my life has certainly paid off for me, started at 5.99 now 1.09.

Thanks for replying and keep them coming.

-Web

j9faulk

We took out a mortgage in 2008 with Cheltenham and Gloucester which was a discounted at 0.49% below the BoE rate for two years, little did they know then that the base rate was going to fall so far. We were paying 1p for an £80k mortgage :j My husband said they should have been paying us LOL. Looking to remortgage again now (honeymoon period has ended) and considering different options. Not sure if an Offset would be so good for us as we do not have any savings to talk about and have found a good fixed at 1.99% for two years which would allows us to make £250/mth overpayments, can anyone tell me if this would probably be my best option? Thanks

Looksguywalker

0%, I've owed Santander 50p on my mortgage for 10 years. Because I still owe they store my title deeds safely free of charge!

kingstreet

j9faulk wrote: »

We took out a mortgage in 2008 with Cheltenham and Gloucester which was a discounted at 0.49% below the BoE rate for two years, little did they know then that the base rate was going to fall so far. We were paying 1p for an £80k mortgage :j My husband said they should have been paying us LOL. Looking to remortgage again now (honeymoon period has ended) and considering different options. Not sure if an Offset would be so good for us as we do not have any savings to talk about and have found a good fixed at 1.99% for two years which would allows us to make £250/mth overpayments, can anyone tell me if this would probably be my best option? Thanks

Aren't you now paying 2.5% on SVR?

getmore4less

Our rate is base + 0.95% but we have the money in savings at 2.6% so the cost of our borrowing is -1.15%

notanewuser

getmore4less wrote: »

Our rate is base + 0.95% but we have the money in savings at 2.6% so the cost of our borrowing is -1.15%

But with inflation at 3% you're losing money!