Mortgage Rates Crystal Ball..

RelievedSheff

daveaspy said:

I was looking at my NW mortgage rate last month which is due for renewal in a few months, the 5 yr fix offered was 1.24% and that has now dropped to 1.19% so somewhat surprisingly (to me ) rates have actually dropped over the last month - possibly to get in that top lenders table as somebody else suggested. I've not jumped yet but am tempted

I would be snapping that rate up!!

daveaspy

RelievedSheff said:

I would be snapping that rate up!!

Ha, funnily enough I have snapped it up now - and it doesn't take effect until September so thats pretty good.

I *think* I could cancel the switch before it kicks in if rates were to stay/drop and push it back another 3 months - not completely sure though? Not really too bothered if I can't as wouldn't be losing much over the 3 month early switch

getmore4less

Seen 1.00% for 70% LTV 2y fix broker only and hearty fee(£1249)  need a big mortgage to work
(Santander)

IAMIAM

Still dropping....75% LTV with HSBC has gone from 1.34 to 1.29 to now 1.19 to maintain top spot of the big lenders...I think its Barclays that lenders are hating at the minute....

Orchid96

Platform (from cooperative) is offering at 1.07% for 75% LTV for 2 years.

IAMIAM

Orchid96 said:

Platform (from cooperative) is offering at 1.07% for 75% LTV for 2 years.

It’s the fees that’s the problem with these low low rates. 999 as the max is worth it IMO 

2nd_time_buyer

This might be interesting to some. The bank of England track mortgages rates over time. The index for different products can be found here:

https://www.bankofengland.co.uk/boeapps/database/FromShowColumns.asp?Travel=NIxAZxSUx&searchText=mortgage+interest+rate

For instance  the 5 year fixed rate with 60% LTV can be found at:
https://www.bankofengland.co.uk/boeapps/database/fromshowcolumns.asp?Travel=NIxAZxSUx&FromSeries=1&ToSeries=50&DAT=RNG&FD=1&FM=Jan&FY=2010&TD=11&TM=May&TY=2025&FNY=Y&CSVF=TT&html.x=66&html.y=26&SeriesCodes=IUMZO27&UsingCodes=Y&Filter=N&title=IUMZO27&VPD=Y

There is a useful summary here:
https://www.statista.com/statistics/386301/uk-average-mortgage-interest-rates/ 

SuzTheRebel

RealBobbyDazzler said:

 Just interested in how others are playing it!  

Hi, we are also just renewing with NW and have settled for a 2yr fixed (with help/encouragement from IFA) and it is 1.20% with a £995 fee.  The 5 year fixed offered was 1.34% also same fee.  We have 60% LTV.

We don't believe interest will go up in the next 2 years, so with a chance for it to remain the same or go down we were happy with 2 years, then we will review again.

daveaspy

daveaspy said:

RelievedSheff said:

I would be snapping that rate up!!

Ha, funnily enough I have snapped it up now - and it doesn't take effect until September so thats pretty good.

I *think* I could cancel the switch before it kicks in if rates were to stay/drop and push it back another 3 months - not completely sure though? Not really too bothered if I can't as wouldn't be losing much over the 3 month early switch

damn, that 1.19 rate has now dropped to 1.14 

cornish42

daveaspy said:

daveaspy said:

RelievedSheff said:

I would be snapping that rate up!!

Ha, funnily enough I have snapped it up now - and it doesn't take effect until September so thats pretty good.

I *think* I could cancel the switch before it kicks in if rates were to stay/drop and push it back another 3 months - not completely sure though? Not really too bothered if I can't as wouldn't be losing much over the 3 month early switch

damn, that 1.19 rate has now dropped to 1.14 

@daveaspy
Wow! That's good!
I am also currently with NatWest and my term ends at the end of Sept. I'm free to fix a new deal with them now but the best they are offering me is 1.39% 5 year fixed. I'm well under 60% LTV.

Or actually, is NW Nationwide?