Help is this a good rate?

Samx41

I have been given a personalised illustration from a mortgage consultant. 95 ltv mortgage at a fixed rate of 4.99 until 2018 after term it reverts to standard variable 5.69%. I'd this any good?

I will be seeing another advisor ASAP to check what else is out there.

nakiwala123

OMG I was offered the same today!

I already have a DIP with a 95% ltv with another so im comparing which one is better

Samx41

I know I've just had a look on your thread. It is exactly the same from looking at your fee break down. I am totally clueless though. This is my first house. I will be looking at your thread with great interest. My mortgage consultant said it won't last long and that we need to find a house ASAP if we want this product( like two weeks). Have you heard the same? My OH is not convinced and thinks its a pressure tactic

But sadly he is just as clueless as me...

nakiwala123

Same kind of pressure I was put under. they said that it is only available for a short time as the bank offering it only has limited funds for this product so once they are gone they are gone. They also said that the deal is only available to their panel of advisors.

nakiwala123

Our 1st house too

Thrugelmir

nakiwala123 wrote: »

Same kind of pressure I was put under. they said that it is only available for a short time as the bank offering it only has limited funds for this product so once they are gone they are gone. They also said that the deal is only available to their panel of advisors.

Funds are normally released in tranches by lenders. So not untrue.

However house purchase along with mortgage finance shouldn't be rushed. As any mistake could be costly.

kingstreet

Both using estate agency advisers, by any chance?

TBH there's so little 95% money around, you haven't got many options to start with...

nakiwala123

kingstreet wrote: »

Both using estate agency advisers, by any chance?

TBH there's so little 95% money around, you haven't got many options to start with...

Yes estate agents advisors! I can't stand them. Rather aggressive in their marketing.

It looked like my offer would not get passed on without first speaking to their advisor 'to validate my offer- to ensure I was in a proceedable position.' I can almost understand this bit but I also knew it was a ploy to try and sell their products. I have thanked them for the offer but declined it and that I will stick to my original one but I'm happy with my current deal

You are right not many options at such a high ltv.

kingstreet

If you've expressed an interest in one of their advertised properties, they'll try to use the mortgage scarcity, as a lever to get you to agree the purchase quicker than you might wish.

This will also be used to sell you their conveyancing and insurance, as everything is so "urgent."

See the Reeds Rains thread on HBR&S if you haven't already.

nakiwala123

kingstreet wrote: »

If you've expressed an interest in one of their advertised properties, they'll try to use the mortgage scarcity, as a lever to get you to agree the purchase quicker than you might wish.

This will also be used to sell you their conveyancing and insurance, as everything is so "urgent."

See the Reeds Rains thread on HBR&S if you haven't already.

I will check out htis thread in my lunch break.

We are getting free convenyancing (minus searches) so we will have decline that one too.


All 3 properties that were our top 3 are being marketed by them hence we are declining there offers as nicely as posssible because we are very likely to encounter them again if this sale falls through for some reason or another.

Like you said it a process that should not be rushed so I will (I hope) not succumb to their pressure.