natwest 5yr fixed

motor_bike

just looking at a natwest 5yr fixed at 3.09% then onto 4% and no fees.

this is to re mortgage and i need £35k, i have 100% equity

is there any better 5yr deals out there before i get signed up ?.

cheers motor bike.

John1993_2

What will your LTV value be after you take the 35k? I've seen deals at about 2.49%, I think, for those with 40% equity.

motor_bike

John1993 wrote: »

What will your LTV value be after you take the 35k? I've seen deals at about 2.49%, I think, for those with 40% equity.

dont know, house value is £100k

John1993_2

motor_bike wrote: »

dont know, house value is £100k

If you have 100% equiity now, house is worth £100k, and you take out 35k, then assuming no fees at all (remember you'll possibly pay £1,000 or so for conveyancing), you'll have 35% loan to value. This opens up pretty much any mortgage you want (such a small debt relative to house value), so Yorkshire's 2.44% fixed for 5 years looks peretty good, except, unfortunately, it has £1,345 in fees.

GIven the small siize of loan, this adds a lot to the effective APR, so I don't immediately see anything better than your proposed deal, sorry.

motor_bike

John1993 wrote: »

If you have 100% equiity now, house is worth £100k, and you take out 35k, then assuming no fees at all (remember you'll possibly pay £1,000 or so for conveyancing), you'll have 35% loan to value. This opens up pretty much any mortgage you want (such a small debt relative to house value), so Yorkshire's 2.44% fixed for 5 years looks peretty good, except, unfortunately, it has £1,345 in fees.

GIven the small siize of loan, this adds a lot to the effective APR, so I don't immediately see anything better than your proposed deal, sorry.

i was thinking the same. some lenders have better rates but the minimum loan amount is £40k then there are the ones with fees . i have double checked and there are no fees with the natwest apart from a £30 telegraphic transfer fee . i look at the total amout to be repaid and this one also seems to be about the cheapset when you factor in the svr after the fixed term. cheers again motor bike