Cheapest Fixed rates with no fees

steve-o_3

Guys, I need some help.

Our current mortgage is a discount tracker, we currently pay 5.49% but interest rates keep rising and its beginning to get on me nerves!

Please please please point me in the direction of the best fixed rate mortgages with no fees, have a reasonable term (ie 5 years) and that allow a reasonable amount of overpayment (at least 10%) with no hidden charges.

I need to get on a fixed rate, but half the time they seem pointless becasue of all the fees and charges!

Cheers chaps.
Steve.

herbiesjp

do you have any penalties to leave your current lender?

What are their exit fees at the moment?

Have you asked them what fixed rates they can offer?

steve-o_3

No, currently don't have any fees to leave my current lender, everything is easy to leave on my side, but there seems little point if there are valuation fees, setup fees etc etc and other fees with overpayments and to leave the potential new lender in the future.

I feel a bit daft, but I don't even know where to start looking to find out who's best suited?

Cheers.

homer_j_3

to get a completely fee free fixed rate mortgage, you will be paying more than what you are at the moment. If you look at the difference in rates from fee free to what you are paying currently, it may be worth paying a small fee to get a cheaper 5 year fixed rate.

I cannot tell you which is the best one as I do not know your circumstances.

steve-o_3

Ok, I guess I would consider some fee's but the deal would have to be worth while, be flexible and on good terms.

What do you need to know about my cercumstances to advise?

My income is £30k, partners is £25k,
House is worth £200k, we currently owe £140k.
Term remaining is 19 years, would like similar term.
Prefer a good fixed rate deal to eliminate variations in outgoings, need overpayment of at least 10% / year, as few fees as poss, good term etc etc etc.

Ta.
Steve.

herbiesjp

YOu should be ok on fees free or schemes with limited fees

The term of the fixed rate would need to be chosen on the bais of your your plans for the future might be.

As rates have gone up today, you will no doubt see your payments going up as well shortly

A good starting point may well be a fee free whole of market mortgage adviser

They'll be able to look at all the deals on the market for you and see what is best.

Who is your current lender? Ask them what fixed rate deals they could offer you