Can anyone beat this 100% mortgage offer?

TheGaz1982

Hi,I have been offered a mortgage through a 'local' building society, and feel that it is a good offer, even though the interest rate is slightly higher than others. I have the follwing information on it:-Loan ammount- 99,950.00 (100%- no deposit)Loan term- 30 YearsRate- 6.84% for 5 years.Monthly payment- 654.00 pcm (when fixed).There is also no arrangement fee, and I will get 500.00 back, towards legal costs and valuations.I was going to use Cheltenham and Glouster- but arrangement fee's put me off. What are they?Any advise would be appreciated.Thanks.

lynnexxxo

Add up the amount you will pay with the lower interest rate mortgage. What is the difference each month. Times this difference by 60 (5yrs payments).

Is this difference greater than the arrangement fees for the C&G mortgage?

Often it is worth paying an arrangment fee for a lower rate.

where2start

Sounds good !! but depends who the lender are ?? they might offer you the best deal and have the worst reputation ever as i have found out ............