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How does this mortgage sound?

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Comments

  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    If Coventry will accept you here are their options

    http://www.coventrybuildingsociety.co.uk/mortgages/moving-home.aspx

    looks like the SVR should have a 0.5% discount for term.

    I would look at there Flexx for term loans at 1.99% only 0.45 more than your current loan(£800 fee or the 2.15% £300 fee)

    Paying the bigger fee for the lower rate or not will depend on your payment/move plans breakeven is Feb 2018.
  • amnblog
    amnblog Posts: 12,733 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    If you are unsure about the product - talk again to your broker.

    Ignore all advice on here about product and product options as forum viewers do not understand your situation sufficiently to comment with any authority.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • cbrpaul
    cbrpaul Posts: 756 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    ellie27 wrote: »
    Sorry, I really dont have a clue what you mean! Our current mortgage is our first and only ever mortgage so and it was a tracker from day 1 when we took it out almost 7 yrs ago.....


    It really saddens me to read this from borrowers !!
  • JustinR1979
    JustinR1979 Posts: 1,828 Forumite
    cbrpaul wrote: »
    It really saddens me to read this from borrowers !!

    I've only been on here a few days, but what already saddens me is I never realised how many ways the word 'mortgage' could be spelt!
  • kidmugsy
    kidmugsy Posts: 12,709 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    edited 10 August 2014 at 12:12PM
    Everyone says that rates must rise. Everyone has been saying it for years. But nobody knows when, by how much, or for how long.

    Personally I might fix, but that's not because I've got my finger on the BoE's pulse, but just because I'd like the peace of mind. Know thyself!
    Free the dunston one next time too.
  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    The op is not being recommended a fixed.
  • ellie27
    ellie27 Posts: 1,097 Forumite
    Ninth Anniversary 500 Posts Combo Breaker
    cbrpaul wrote: »
    It really saddens me to read this from borrowers !!

    We have only ever had one mortgage and due to our circumstances at the time, 7 yrs ago, we had very little choice in mortgage and took out a tracker. Turns out we struck it lucky and our rate is currently 0.95%. It is only now, looking for a new home and unable to port it, we have to shop around for a mortgage and I admit I dont really know much at all.
  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    Trackers are often the best option except for those that have to fix, most don't.

    remember there are vested interests in convincing people that they should take term limited options.

    how many have come of decent tracker rates like nationwide BMR when they should have just stayed with it.
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