We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Interest only, offset tracker mortgage
Options
Comments
-
getmore4less wrote: »Offset are rarely the cheapest way to reduce interest once you decide cash flow is not a consideration.
Well, if we can beat the base +179 bps (1.79%) that Barclays offer for lifetime tracker offset interest only, then great.
I kind of started this thread to get pointers for where we can beat this!I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
What you can you get for your purpose is the starting point.
Good broker to narrow the choices, just because they are on lenders site does not mean they are available to you.0 -
getmore4less wrote: »just because they are on lenders site does not mean they are available to you.
Why wouldn't they be for us? I ran through the criteria with FD and Barclays, and they seemed sensible and not prohibitive.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
How do you plan descibing what the lending is for?0
-
I hadn't given it a moment's thought!
Anyway, will book a meeting today with Barclays as a backstop. It's two weeks for an appointment in branch and even longer for someone in a call centre,
I guess I'll also speak to some Mortgage Advisers, which I guess is one of those new occupations that have sprung up over recent decades.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
Coventry BS have a rate of 1.99 for their flexx offset.
FD have a tracker at base + 1.29%
there will be more.0 -
gadgetmind wrote: »I guess I'll also speak to some Mortgage Advisers, which I guess is one of those new occupations that have sprung up over recent decades.
:rotfl:
Good luck!I am a mortgage adviser.You should note that this site doesn't check my status as a Mortgage Adviser, 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.0 -
gadgetmind wrote: »I hadn't given it a moment's thought!
Anyway, will book a meeting today with Barclays as a backstop. It's two weeks for an appointment in branch and even longer for someone in a call centre,
I guess I'll also speak to some Mortgage Advisers, which I guess is one of those new occupations that have sprung up over recent decades.
Are you serious? this will be a critical part of the application.
Someone recently let slip during the process that they will be inheriting some money quite soon, mortgage interview stopped, not going to lend.
From what you have said you will be borrowing money to lend to someone else.
I have no idea how that will go down with lenders these days, good brokers will.
Money lending intermedieries have been around since the begining of money and before that(just not with money).0 -
It's a no-brainer IMO. I have an offset and only wish that I'd had one from the start.
All savings offset against the mortgage are netted tax free, thus if the interest rate is 4% you are effectively getting 4% after tax on your offset savings/salary etc.
With the house prices rising inevitably as they do over time due to extra demand thanks to immigration, BTL demand etc, a repayment mortgage is not necessary IMO as the mortgage can be cleared by making overpayments as salary increases, lump sums from pensions, ISAs etc. Also, if you move a few times, repayment mortgages become a more expensive waste of time.
The flexibility of offset mortgages cannot be overstated. :T0 -
getmore4less wrote: »FD have a tracker at base + 1.29%
Hmmm, I'll have to give them a call as I didn't spot that on their web site.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.2K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.2K Work, Benefits & Business
- 599.3K Mortgages, Homes & Bills
- 177.1K Life & Family
- 257.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards