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mortgage rate question
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spaceboy
Posts: 1,932 Forumite
With NatWest just now on standard variable rate at 3.99%, online they offer 3.03% to me for a 5 year fixed. Is that not a bit high? the mortgage debt is about £85k and loan to value about 70%
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Comments
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Natwest will rarely be the cheapest option out there. They offer flexibility and some leniency.
If you are not happy with it, go elsewhere.
It does not matter what you or I think about their rates, they are what they are.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, 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 -
Ah ok, so where is cheaper and what potential rate could I get? Just wondering if it's worth looking around or just fixing now.0
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Thats for you or your broker to look in to. I am not allowed to name lenders on here as it will not take account of your specific circumstances.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, 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
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It is not competitive when you consider the Lender is offering close to 1% less at 5 year fixed for new borrowers.
There are a number of Lenders offering 5 year fix products with no fees at under 2.25%
Whether you want to go through the process of reassessment by a new lender is a matter for you.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 -
Is it worth phoning Natwest and asking for a better rate?0
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No. Try elsewhere.0
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