Looking for 10 year fixed rate mortgage with lowest exit fees- any suggestions?

mrstingy2022

hi All
I need to switch from the tracker to fixed rate and i would like 10 year fixed rate mortgage.
I need to borrow 60k(property 310k).
Can anybody suggest the deal with the least exit or overpayment fees?
Are there any tricks or gotchas that i should be aware off?
If i am in fixed deal and theoretically would like to pay everything off on the next month of mortgage - will i pay a fixed percentage of the payed amount?
Best Regards

amnblog

Why would you want the commitment of a 10 year rate and then be focused on low exit fees?

Newbie_John

FirstDirect ha sno overpayment limits.

Now exit fees, wouldn't be better to take 5x 2 years fixed deals? When you product transfer every 2 years it's all hassle free and takes few seconds - no need for remortgagiong every 2 yeras and get the freedom of leaving whenever you wish.

mrstingy2022

amnblog said:

Why would you want the commitment of a 10 year rate and then be focused on low exit fees?

i am pesimistic about economic outlook so if there is major colapse i might not get a remortgage after 2 years. Id rather play it safer

mrstingy2022

Newbie_John said:

FirstDirect ha sno overpayment limits.

Now exit fees, wouldn't be better to take 5x 2 years fixed deals? When you product transfer every 2 years it's all hassle free and takes few seconds - no need for remortgagiong every 2 yeras and get the freedom of leaving whenever you wish.

wow if firstdirect has no overpayment limits i will definately check them!
the reason i prefer longer fixed deal is my pesimistic outlook in the economic future eg in 2 years i might be in worse financial shape and not get a remortgag - this sort of thinking

Newbie_John

mrstingy2022 said:

amnblog said:

Why would you want the commitment of a 10 year rate and then be focused on low exit fees?

i am pesimistic about economic outlook so if there is major colapse i might not get a remortgage after 2 years. Id rather play it safer

But why would you like to remortgage again after 2 years?
If your fixed deal ends, you don't change banks - then you grab next best available fixed deal from them without any paper work, salary prooves, literally can be 30 seconds online.

mrstingy2022

Newbie_John said:

mrstingy2022 said:

amnblog said:

Why would you want the commitment of a 10 year rate and then be focused on low exit fees?

i am pesimistic about economic outlook so if there is major colapse i might not get a remortgage after 2 years. Id rather play it safer

But why would you like to remortgage again after 2 years?
If your fixed deal ends, you don't change banks - then you grab next best available fixed deal from them without any paper work, salary prooves, literally can be 30 seconds online.

i do not want 2 year deal as i prefer fixed rates for 10

RelievedSheff

mrstingy2022 said:

Newbie_John said:

mrstingy2022 said:

amnblog said:

Why would you want the commitment of a 10 year rate and then be focused on low exit fees?

i am pesimistic about economic outlook so if there is major colapse i might not get a remortgage after 2 years. Id rather play it safer

But why would you like to remortgage again after 2 years?
If your fixed deal ends, you don't change banks - then you grab next best available fixed deal from them without any paper work, salary prooves, literally can be 30 seconds online.

i do not want 2 year deal as i prefer fixed rates for 10

mrstingy2022 said:

Newbie_John said:

mrstingy2022 said:

amnblog said:

Why would you want the commitment of a 10 year rate and then be focused on low exit fees?

i am pesimistic about economic outlook so if there is major colapse i might not get a remortgage after 2 years. Id rather play it safer

But why would you like to remortgage again after 2 years?
If your fixed deal ends, you don't change banks - then you grab next best available fixed deal from them without any paper work, salary prooves, literally can be 30 seconds online.

i do not want 2 year deal as i prefer fixed rates for 10

You won't get the best rates for a 10 year deal. 

Would 2 five year deals not be a better compromise. 

Hoenir

mrstingy2022 said:

amnblog said:

Why would you want the commitment of a 10 year rate and then be focused on low exit fees?

i am pesimistic about economic outlook so if there is major colapse i might not get a remortgage after 2 years. Id rather play it safer

Collapse of what? UK banks extremely unlikely. Highly regulated these days, Times have moved on since the GFC. 

[Deleted User]

Wiser going for 5 years.

10 years is such a long time.

I have recently opted for 2 years. 

mrstingy2022

mrstingy2022 said:

Newbie_John said:

FirstDirect ha sno overpayment limits.

Now exit fees, wouldn't be better to take 5x 2 years fixed deals? When you product transfer every 2 years it's all hassle free and takes few seconds - no need for remortgagiong every 2 yeras and get the freedom of leaving whenever you wish.

wow if firstdirect has no overpayment limits i will definately check them!
the reason i prefer longer fixed deal is my pesimistic outlook in the economic future eg in 2 years i might be in worse financial shape and not get a remortgag - this sort of thinking

i rang them yesterday and looks like exactly what i wanted. There are some details which i did not fully comprehend so might ring them to clarify ie. its possible to overpay but not fully close the mortgage. I need to understand what will happen if i would like to sell