MSE News: Act now. Fixed mortgages near rock-bottom

Remortgaging just means switching your deal to a better one. Now's a great time, as rates are near all-time lows...
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Act now. Fixed mortgages near rock-bottom

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  • PincherPincher
    6.6K Posts
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    Still on my Mortgage Express BOE+1.75%= 2.25%, interest only.
    £3,375 a year, £281.25 a month if it was £150k.

    Go on, offer me a 20% discount on the mortgage, and I'll move away.

    On the other hand, 20% on a £200k mortgage is £40k, it's cheaper to hire a professional to bump me off for £2,000. They know where I live, it's on the mortgage application, :eek: .
  • VT82VT82 Forumite
    1.1K Posts
    Tenth Anniversary 1,000 Posts Combo Breaker
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    I think they'll be perfectly happy with you on 2.25%.


    It sounds like an old mortgage, so well-seasoned, so probably low LTV, so low risk/low capital weighting.


    2.25% isn't a bad return for them, given how low the cost of funds has got in recent years. It's not 2010 any more, lenders aren't tearing their hair out at back book mortgages paying BBR + 1.5%+ any more.


    Interest only and on a term tracker means the balance won't reduce, and is unlikely to redeem, so less need to churn you as a customer (as opposed to people getting rates around 2%, and churning every couple of years, and having to be replaced with new lending at thin margins).


    I wouldn't be expecting a discount to leave any time soon.
  • ThrugelmirThrugelmir Forumite
    89.5K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
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    Pincher wrote: »
    Still on my Mortgage Express BOE+1.75%= 2.25%, interest only.
    £3,375 a year, £281.25 a month if it was £150k.

    Go on, offer me a 20% discount on the mortgage, and I'll move away.

    On the other hand, 20% on a £200k mortgage is £40k, it's cheaper to hire a professional to bump me off for £2,000. They know where I live, it's on the mortgage application, :eek: .

    Perhaps they'll sell you on. Cheaper than bumping you off.
  • PincherPincher
    6.6K Posts
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    Thrugelmir wrote: »
    Perhaps they'll sell you on. Cheaper than bumping you off.

    Usually you sell off deadbeat debts at a huge discount, like if I owed £1,000, they sell it to a guy with a Rottweiller for £100. The guy then adds a collection fee and breaks my leg if I don't pay £2,000. That's a 90% discount to the lender.

    20% is a better deal, Shirley? :D
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