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Mortgage renewal decision
bikeman17
Posts: 234 Forumite
Current with natwest, 2 year tracker due to end july 31st. Two years ago I paid 995 product fee, this year I cannot do that.
Residential mortgage with consent to let.
49% ltv
29yrs left
Currently on 1.79%, logging online they are offering me
2yr tracker 2.44%
5yr fxd 3.10%
2yr fxd 2.54
Are these the best deal for me or would I be able to get a discount if I call or go to a branch.
Residential mortgage with consent to let.
49% ltv
29yrs left
Currently on 1.79%, logging online they are offering me
2yr tracker 2.44%
5yr fxd 3.10%
2yr fxd 2.54
Are these the best deal for me or would I be able to get a discount if I call or go to a branch.
0
Comments
-
You are fortunate to be offered such attractive options on consent to let.
Going into Branch will not get you a discount, but it might get you a headache.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.0 -
Norwich and Peterborough
FEE FREE
Based on a 65% LTV
New cusomers
Fixed:
2yr 1.89%
3yr 2.24%
5yr 2.54%
SVR at 4.99%, is not competitive I grant you, but looking at what you can then transfer for a one off £70 fee (nothing really against the savings compared with others):
Existing customers,
Fixed
2 yr 1.94%
3 yr 2.39%
5 yr 2.70%
Which are also all very good.
They also allow you book it in for up to 6 months ahead, and the term starts from the day of the mortgage, which means a 2 year term is a full term, which some other lenders don't offer.
*Just dont sit on the SVR, at the end of the term.0 -
Our poster is not even living in the Property so will not get a residential deal from another Lender.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.0 -
Missed that crucial nugget (apologies)0
-
As above, the "issue" is not the rates you think are available but the matter of the consent to let. Most lenders issue these on a very limited timescale - and some charge a fee every time/renewal.
Generally speaking, there are bigger concerns than rate in this type of scenario - you should be also be factoring in your "mortgage shape" and tax position, especially in light of the changes occurring there over the next 3 years.0
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