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Advice please would a varibale rate best for us
pinkparrott
Posts: 340 Forumite
Hi I need some advice, we currently have a virgin one account and think we really need to switch it as were not really paying that much off, and have come to the conclusion we would be better with normal mortgage with overpayment facilities.
Today I have been to the skipton b/s and have had an illustration about their tracker which is base rate + 0.49%.
I think it looks ok but not sure,
We need £50K on a house worth £285K over 15 years. As the loan is relativly small , i though this mortgage would be ok as there are no fees involved.
Someone said i may be better with a fixed rate, but a lot that i have looked at have quite large arrangement fees etc that would mean it would take along time to recoup these.
Any advice, we want to be able to make small ish regulary overpayments too.
Today I have been to the skipton b/s and have had an illustration about their tracker which is base rate + 0.49%.
I think it looks ok but not sure,
We need £50K on a house worth £285K over 15 years. As the loan is relativly small , i though this mortgage would be ok as there are no fees involved.
Someone said i may be better with a fixed rate, but a lot that i have looked at have quite large arrangement fees etc that would mean it would take along time to recoup these.
Any advice, we want to be able to make small ish regulary overpayments too.
Grocery Challenge Feb 14 £500 / Spent £572.10!
March 14 £500 / spent £488.45 :j
March 14 £500 / spent £488.45 :j
0
Comments
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Being new to this site, I don't know where I stand in terms of giving details of particular deals, but, whilst not saying that it is the best, I know Woolwich have a cheaper lifetime tracker than this, with free remortgage facility, and you can pay off as much as you like without penalty. Possibly worth looking into.I am an Independent Financial Adviser.
Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.0 -
Hi thanks for this , sorry forgot to say i've jusr seen the woolwich one, but a bit concerned re the poor service some people have said they have had from the woolwich.
Has anyone had any experience of the skipton b/s.
We want somewhere with a localish branch and good service as because we have the virgin one account we have missed the local branch and contact aspect.
But do also want to know if we can find a cheaper deal of any type but with low fees.Grocery Challenge Feb 14 £500 / Spent £572.10!
March 14 £500 / spent £488.45 :j0
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