Mortgage - no fee products?

holly876dog

Does anyone know of any decent rate mortgages ~(4-5.5%) out there that charge little or no fees? I have looked on various websites and even when putting in criteria such as 'low fees' they still bring up products that seem expensive to either set up or exit. Currently with Egg and was only £25 set up with £85 exit cost (think it the relese deeds fee or something). Have 60K on mortg so working out the numbers seems pointless to pay expensive fees when it would make more sense going for a lillte higher rate. Don't mind getting tied in for incentive period and would go with any disc/traker/fixed.
Any help appreciated

payless

I assume you mean a remortgage

In most cases your current lender will be charging an account closing fee
- call and check, plus confirm no other redemption fees aply
( have you asked them if they have any products you could swap on to )

other than that , there are numerous products from a variety of lenders that appear to meet your main stated requirement of no / low setup costs

It would be wrong to try and provide examples here , the final choice should be based on a more indepth review of your circumstances and needs

herbiesjp

As payless rightly says there are numerous products out there.

However finding the right one for you will depend on your particular circumstances.

Hobo_2

Mansfield BS, 4.88% 3yr discount no fees, might be worth a look

payless

I would suggest if doing own research look at the comparison sites mentioned in Martin's articles or http://www.fsa.gov.uk/tables

If prefer to get advice, source yourself an independent mortgage adviser

Hobo's product ( like some of his previous threads) opens up an interesting question ( a discussion over which I have had via PM with some longstanding users of these boards - who are not in the FS business) as its a "direct only " product

There are some firms that claim to source all the market ( not just those available via brokers)- would be interesting if they came up with recommendations based on these products .

I think I have the solution , but don't think it's take up would be high.

michaels

I wouldn't recommend Northen Rock but I believe they do a fee free option on each of their products at a slightly higher headline rate.

payless

michaels wrote:

I wouldn't recommend Northen Rock but .............

Sort of .. They have a range of products that don't have an arrangement fee (normally £695 on most products) But even these come with valuation fees to pay ( their scale includes a fairly hefty £250 admin charge) and legals to pay.

they do then offer assistance towards these fees - but this comes with a 42m tie!

---
Perhaps i'll stick with your first 5 words

Hobo_2

payless wrote:

I would suggest if doing own research look at the comparison sites mentioned in Martin's articles or http://www.fsa.gov.uk/tables

If prefer to get advice, source yourself an independent mortgage adviser

Hobo's product ( like some of his previous threads) opens up an interesting question ( a discussion over which I have had via PM with some longstanding users of these boards - who are not in the FS business) as its a "direct only " product

There are some firms that claim to source all the market ( not just those available via brokers)- would be interesting if they came up with recommendations based on these products .

I think I have the solution , but don't think it's take up would be high.

Come on Payless, " Hobo`s product (like some of his previous threads)" Not my product! Not selling & No affiliations
I`m a member of this forum with no connection to FS industry (like most on here) and any product i mention that might/maybe ( can decide for themselves) of interest to others has been sourced form the links provided on this site like, moneysupermarket etc.
Without this type of post from myself & the many forum users , IMHO there would`nt be much point having a forum.

payless

Hobo wrote:

Come on Payless, " Hobo`s product (like some of his previous threads)" Not my product! Not selling & No affiliations
I`m a member of this forum with no connection to FS industry (like most on here) and any product i mention that might/maybe ( can decide for themselves) of interest to others has been sourced form the links provided on this site like, moneysupermarket etc.
Without this type of post from myself & the many forum users , IMHO there would`nt be much point having a forum.

Hobo far from me trying to have a pop , I was commenting that recently you have posted some deals ( obvious no affiliaton as they were from various lenders- some were products only direct ) - so I know its not your product , my saying your product- I mean the product you mentioned, I prefer not to repeat any lenders name if possible - but sorry if it came across that way, it was not not meant to.

I was actually using your post to highlight another discussion point.

I myself won't post details of individual deals as

1. may be taken as a recommendation of a regulated product, and I wold not do this without full knowledge of an individuals cicumstances/ needs ( ie in this case is variable with a 3yr tie acceptable , limitations on overpayments, the LTV , lending criteria, and options at end of incentive period)
2. Might be seen as plying for business
3. Could lead to a tit for tat.. my product is better than yours ( yours not meaning you, but rather other advisers )situaton.

Personally I'm not sure if agree actual deals should be posted by anyone - as mortgages are complex, and their suitability is an individual nature ( not keen on "best buys" in papers either) instead prefer people either to follw their own in depth research, and/ or take professional advice. BUt as I don't run these boards, the se decesions are not mine.

Hobo_2

No sweat Payless, i can understand your position (points 1,2,3)
On the positive side, i try to post rate/deal changes if i come across the info eg for people who maybe making an application on a mtg & pay non refund fee
( fixed rates more so) then to find rate gets lowered soon after,forewarned is forearmed!

payless

FAir enough .. friends ?

By the way .. look at http://forums.moneysavingexpert.com/showthread.html?t=21569 for over 4months ago - read the first post