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Is this the cheapest mortgage out there?
779
Posts: 57 Forumite
I have a 27% LTV, I am looking for the cheapest rate & productive/admin/etc fees, - in order to pay off as much as possible over the next two years.
Leek United are offering a tracker 1.34% over 2 years with no product fee.
It's the cheapest that I can see, - anyone know of anything cheaper?
Rgds
Leek United are offering a tracker 1.34% over 2 years with no product fee.
It's the cheapest that I can see, - anyone know of anything cheaper?
Rgds
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Comments
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Have you taken in to account any cashback products?
I always remember doing a £15k Mortgage which paid the customer £1000 cashback and had no fees. They must have lost money on that Mortgage.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 -
There is one with a higher rate and £1000 cashback. If the mortgage is low the rate will not make a lot of difference however the cashback will.0
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Thankyou. Hmmmmm no I don't really look at cashback as whenever i've looked at them before the numbers didn't add up. My mortgage is 82k0
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You'll probably find a fee-free product with a cashback offers better overall value on a mortgage that size than a low rate for a couple of years.
You usually need a bigger mortgage over a longer product period to maximise the savings on a lower rate.
Get illustrations for both and compare the overall cost, including the outstanding balance at the end of the special offer period.I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Add the fees take of the cash back, make the payment what you want to pay see which leaves your with the smallest debt after 2 years.0
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