New Thread on Mortgage Advisors are etc.

bbruce

:)Which is the current lowest APR for an Offset/Current Account Mortgage?
Virgin One appealed to me in the past but their rate was higher than others such as First Direct etc.
Now hey've dropped their Virgin tag they see more competitive. It gets confusing as some offer Loyalty discounts and by chance, due to failed carpetbagging in the past, I'm a member of the Brittannia, Nationwide, Chelsea, Portman & the Yorkshire among others. I managed to score on Bradford & Bingley so closed my account but kept the shares.
I only need 10% of the value of my house, but would like the facility to have 50% in case I needed it to help the kids with deposits or to buy something overseas outright.
Surely by comparing APRs it would be an easy exercise, or do they all complicate it with free valuations, conveyancing, loyalty discounts, etc?

payless

And then you also have to consider the deals with an initial discounted period, and whether you require offsetting against saving account or all deposits ( inc current account) , or a full CAM option, or just a deal that allows drawdowns?

payless

APR is a way of calculating loan costs, but with mortgages its not often not considered perfect.

bbruce

I would expect the APR quoted to take into account any initial discounts, offers or charges.
I'd like to offset it against savings & current accounts but a plain drawdown facility would be fine if it was cheaper.
Unlike some people, a large negative account balance like the One account has does not faze me.

payless

I think in some cases the charges shown in a APR calculation are "typical" rather than actual .

By the nature of discounts / fee rebates not being a % of the loan, they will vary on the size of loan taken, and again could be different when different amounts are drawn down, and the term of the loan

bbruce

So who has the lowest variable APR for a 50% Flexible/Current account?

dunstonh

am i missing something but what has the topic got to do with the content?