Britannia Mortgage 5 year Fixed - no fee

confused_kid

JimmyTheWig wrote: »

Slightly off topic, but the best way to improve your LTV is to overpay your mortgage.
Even a small amount extra each month will make a big difference.
£100 a month extra, for example, will have knocked nearly £7000 off your loan in 5 years.

Afternoon Jimmy, yes probably should've added a little more to that statement I made. I shall be overpaying (direct debit to be setup to stop me missing a month)...and then I can take stock near to the end of month 60 (5 years) and see what my LTV is at the time. Those overpayment calculators help send the message home

JimmyTheWig

That's cool, confused_kid. Didn't know I was preaching to the converted...

Harry_Boyle

Just filled in the online application for this mortgage. Hopefully it'll go through before the deal is pulled.

michaels

In my case you had to return paperwork within 4 weeks after which booking fee became payable and then had to complete wihtin 4 months of original application

NeoVR2k6

Lifes_Grand_Plan wrote: »

To avoid "missing the boat", surely the best option is to apply for this mortgage and then when you have an offer, hold off completing and see what else comes along?

How long would an offer on such a mortgage remain valid for?

Britannia and Co-Op mortgage offers have a validity of four months after initial application. (i know this as ive only got 2 weeks to complete before mine expires )

Gambler

NeoVR2k6 wrote: »

Britannia and Co-Op mortgage offers have a validity of four months after initial application. (i know this as ive only got 2 weeks to complete before mine expires )

I've never remortgaged to another provider before. I have either stayed with the same provider or have changed as part of a house move.

Can I apply today and then wait up to 4 months before confirming? So therefore I have nothing to lose by applying?

What about the valuation and conveyancing does this only start once you confirm?

Thanks

papi34

There is some speculation that the loss of the UK's AAA rating will now mean borrowing for personal users (i.e. you and I) will now be more expensive. Do you agree? I'm on a Nationwide BMR of 2.5% with £75k on £200k value property so am seriously considering jumping on this offer.

Did anyone work out if it is portable or not?

geewhiz

papi34 wrote: »

There is some speculation that the loss of the UK's AAA rating will now mean borrowing for personal users (i.e. you and I) will now be more expensive. Do you agree? I'm on a Nationwide BMR of 2.5% with £75k on £200k value property so am seriously considering jumping on this offer.

Did anyone work out if it is portable or not?

I applied online yesterday and one of the documents I was made to read said it was portable so if you start an online application and read the documents you should find it in there.

shymanuk

yep think ill jump ship from halifax svr 3.99 onto this if all goes ok, was in the process of closing isa to pay a £35000 lump sum off our £81000 and reduce term when taking this out and try and clear as much as poss to finish just after the 5 yrs fixed period ends ...... time will tell lol

shymanuk

anyone know if there are any charges on this after the fixed 5 years if we wanted to move/ payoff the lot ? wanted a 6 yr term they say we cant afford it and can only have a 23 yrs term ????? i know this is based on just my partners s/employed wage ..... but so was original mortgage ...... and halifax havew no issues in giving new deal/amending old one ...... we only owe 47,000 after just paying a lump of 35 ,000 off.we have 6yrs 10 months left with halifax .i know we could pay 10% off each yr with britania but the payment are so low it would reduce overpayments amount .so was thinking what is best .......any ideas