best fixed rate available

danlightbulb

Hi,

I'm going to be remortgaging very soon. I was planning to move but have recently changed my mind on the basis that I think we are starting to see the first signs of a house price crash in my area.

I need £85k over 25 years, for a house worth £120k.

I want either a 3 year or 5 year fix for security (I think rates will continue to rise for a good couple of years).

I don't want to pay high fees. Very reluctant to pay more than £900 in total fees. Fees would be added to the mortgage. I am not interested in cashback or any gimmicks but want the facility to overpay and to transfer mortgage to new house.

I am going to give L&C a call but would like to know what the brokers on here can find.


Regards

KTF

The brokers here are not allowed to suggest any specific product so your best bet would be to seek professional advice through a broker.

Everyones 'best' is different due to the circumstances involved hence a broker is your best bet.

If L&C want to charge you a fee for their service (which I think they do) then go someplace else as there are plenty of whole of market fee free advisors available - look in yellow pages or ask friends, etc.

danlightbulb

I appreciate the forum rules but perhaps a little indication of the likely rates I should get? Is 5% now out of reach?

KTF

Look on https://www.moneyfacts.co.uk, https://www.moneyextra.co.uk, etc. for an idea of what you can get. Most of the high street lenders have pulled the sub 5% rates now in anticipation of a rate rise next week.

There are still some around though. For example:

http://www.rbs.co.uk/Personal_Finances/Mortgages/Latest_Deals/2_Year_Fixed_Rate/default.asp

RBS has 4.99% with a £699 fee if you have banked with them for 1 month or more.

Remember that the lowest rate isnt always the cheapest when you take the fees into account.

JoeK_3

KTF wrote: »

Look on https://www.moneyfacts.co.uk, https://www.moneyextra.co.uk, etc. for an idea of what you can get. Most of the high street lenders have pulled the sub 5% rates now in anticipation of a rate rise next week.

There are still some around though. For example:

http://www.rbs.co.uk/Personal_Finances/Mortgages/Latest_Deals/2_Year_Fixed_Rate/default.asp

RBS has 4.99% with a £699 fee if you have banked with them for 1 month or more.

Remember that the lowest rate isnt always the cheapest when you take the fees into account.

KTF, the rbs fixed rate does not fit their circumstances at all!

JoeK

MortgageMamma

RBS only do purchases, you need to go to first active (part of the same co) for remortgages - see this is the problem when people start messing with these silly search engine things

KTF

JoeK wrote: »

KTF, the rbs fixed rate does not fit their circumstances at all!

JoeK

I wasnt recommending it. Was just using it as an example of an under 5% fix that was still available.

Sloganjerry

Hi

I've been in touch with L & C and been recommended a five year fixed with Cheltenham & Gloucester at 5.78%. Anyone know if this is good? And as far as I was aware L & C are a no fees, whole of market broker so don't charge a fee?

Of course you have to act quick with the fixed 's as a lot of them are being pulled from the market place in anticipation of the interest rise very soon!

Also C & G are charging no set up fees so very cheap to set up this mortgage. Should I go for it?

Thanks!

shays_mum

Abbey is doing 5.74 fixed for 2 yrs, totally fee free, its finishing today & is avaliable direct thru them. My IFA said its off all their systems, so i called direct & i got it.
HTH, goodluck

camstop

Try HSBC too if your looking to fix for 5 years.

They are doing 5.84 and are fee free till the 7th of May.

MortgageMamma

Brittania also have an excellent 5 year fixed at present, 5.79 fee's free I think (going off memory here so don't take my head off if I'm a fraction out!)