ReMortgaging Advice

EMcG

Hello all,

I'm currently with HSBC on a Hometrack mortgage (5.75%). My 3 years interest only period ends in Feb. so I've started to look around for a better deal.

The first one that interests me is the Hinckley & Rugby flexible mortgage at 5.3%. There are better rates around but this one offers flexibility and no up front costs. Ideally, I'd like the option of overpaying by £200 a month. Thus knocking appox.10 yrs of the term and saving + 20K.

The other that interests me is the First Active 2 year discount mortgage. Currently 4.54% (0.21% below base) for years 1&2 and then 5.44% (0.69% above base rate). Arrangement fee of £399. These seem good rates but no overpayments are allowed.

Does anybody have an opinion about either product?

Are there any mortgages out there than combine both the flexibility of the Hinckley & Rugby and the low rates of First Active?

Many thanks

wackyraces

Hi

I managed to pick up a really good deal through a non fee broker called St James's Partnership.

It's a tracker mortgage, so BOE-0.11% for 2 years. You can overpay by 10% but the interest is calculated annually. There are no fees except for the valuation fee, that is refunded on completion. If you want to overpay, then save it all up until the end of the year and then make a large payment.

Hope this helps.

lisyloo

There is a similar deal via alliance & leicester.
It is 4.44% (which is 0.2% cheaper than the previous deal) but higher fees.

Worth checking whether this works out chepaer for you.

Is that deal with alliance & leicester by any chance?

Robert_Sterling_3

Hi
If you want to overpay, then save it all up until the end of the year and then make a large payment.

Excellent advice.
Make sure that you know when the end of the year is for this purpose. Don't get caught out by delays in the post etc. Pay the money in some time before the year ends and give time for it to clear. Better to pay weeks early than one day late in the circumstances.

Troggy_2

Hi

I managed to pick up a really good deal through a non fee broker called St James's Partnership.

Did a search on google for "St James's Partnership"

Please can you confirm if the link below is where I can get the mortgage you quoted.

http://www.on-linemortgages.co.uk/

Thanks in advance.

Regds

Mortgageman

It looks like they refer the leads to St James place, whether they are the same company or not is hard to assertain.

I had a very quick look, and couldn't answer these questions - so make sure you ask them if you chose to use St James's

1) Do you charge a fee?
2) Do you look at the whol market, or just a panel?
3) What level of service will you give me under the mortgage code.