Help on deciding a mortgage

goodylee

Hi,
Can someone please provide me with some advice?
I’m looking to buy a property with a mortgage taken out of £105k over either 25/30years.
I’ve generally been looking at mortgages with £0 product fees and fixed.

Firstly is fixed the way forward?
My previous mortgage I got it at a good time and is now paid off, that was .5 above base rate.
The best products I can see seem to be with HSBC.
What would everyone suggest?


25 YEARS
2years 1.49% Initial Rate//ARPC 3.67%//£371.50
3years 1.64% Initial Rate//ARPC 3.53%//£378.09
5years 1.89% Initial Rate//ARPC 3.32%//£389.22
10years 2.49% Initial Rate//ARPC 3.05%//£416.75

30YEARS
2years 1.49% Initial Rate//ARPC 3.71%//£320.52
3years 1.64% Initial Rate//ARPC 3.60%//£327.25
5years 1.94% Initial Rate//ARPC 3.43%//£340.96

getmore4less

check the fee based products as well they can be cheaper over the fixed term.

foxy-stoat

Fix it for 2 or 5 years and once the brex!!!!! is over and died down fix for longer.

Neutrinno

Rates will only be going one way in future, would you prefer to have the stability going forward?

Don't disregard fee products when they can work out cheaper over the fixed term and leave you with a lower remaining mortgage balance.

kingstreet

... and on a small mortgage, fee-free and with a cashback on completion might just end up better value than everything else!

The moral of the story is look at all options and weigh up the rate, the fees/cashback and the outstanding balance at the end of the fix.